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Annuity Valuation -" Reporting & Analysis Actuary

Company: MassMutual
Location: Springfield
Posted on: September 15, 2019

Job Description:

SUMMARY



At MassMutual, we--------re passionate about helping millions of people find financial freedom and this passion has driven our approach to developing highly interactive digital experiences for our customers. The Valuation & Modeling (V&M)--------s value proposition is as follows: Protect long-term interests of policy owners by enabling MMFG to meet its future obligations through providing accurate financial information and analysis that is actionable and forward-thinking. This will inspire confidence and trust from our stakeholders



To help us achieve our mission, we are hiring a Reporting & Analysis Actuary-Annuity Valuation to join our team.



What great looks like in this role.



Our ideal candidate has demonstrated both strong technical knowledge and communication skills. You--------ll use your skills to help ensure MassMutual--------s financial strength. You--------re also in a position to be a primary contact for valuation reporting and analysis for Annuity products, influence and implement emerging regulation, and help develop and encourage other team members to do the same. The ideal candidate will naturally partner outside of V&M to offer timely and valued advice with key business insights to help the company better understand and manage the business.



Objectives and responsibilities of this role



Lead the reporting & analysis function for Annuity products, which cover individual and group, deferred and payout, fixed and variable annuities



PEOPLE & CULTURE



* Help build and develop teams, perform individual check-in process, set and implement individual development plan, provide candid feedback



STANDARD WORK



* Manage monthly/quarterly/annual production, reporting, analysis and explanation of reserves (direct and ceded, and including PBR) and DAC. Communicate results to appropriate parties

* Manage annual reserve adequacy testing (CFT, DAC, LRT) -----" production / reporting / analysis of results, preparation of various memos and certifications

* Manage usage of valuation governance framework, including assumption-setting, model development and management, data governance, standard work processes

* Apply continuous improvement philosophy to improve our standard work processes



CUSTOMER SUPPORT



* Preparation of projection information for various customers (e.g. Financial Planning & Analysis (FP&A), Investment Management)

* Provide forecasting advice to FP&A

* Provide valuation advice to product pricing/repricing and reinsurance / capital transactions

* Where applicable, provide experience reporting information



VALUATION ISSUES



* Perform analysis of valuation issues, providing recommendations for action, financial impact

* Monitor/influence/implement relevant emerging valuation regulation



INFRASTRUCTURE



* Provide support to building/enhancement/maintenance of actuarial infrastructure (data/models) by providing specifications and user acceptance testing to modelers



SKILLS AND QUALIFICATIONS



* Bachelor--------s Degree required

* Fellow or Associate of the Society of Actuaries and Member of the American Academy of Actuaries, and -----Compliant----- with regards to SOA CPD Attestation Status

* Strong working knowledge of valuation techniques

* Strong working knowledge of US insurance products and pricing

* Must be eligible to work in the United States without sponsorship now or in the future



PREFERRED QUALIFICATIONS



* Strong communication skills, both written and verbal

* Continuous improvement mindset

* Strong project management skills

* Ability to build and maintain strong working relationships across cross-functional groups

* Competencies -----" accountability, agility, business acumen, communication, courage, development, inclusion, leading others, resilience and self-awareness

Keywords: MassMutual, Springfield , Annuity Valuation -" Reporting & Analysis Actuary, Accounting, Auditing , Springfield, Massachusetts

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