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Dividend Strategy and Systems Actuary

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

Job Description:

POSITION SUMMARY

As a mutual company, policyowner dividends are central to MassMutual--------s vision and goals. The Dividend Strategy and Systems (DSS) team strives to be dividend experts who deliver the dividend analysis and solutions that influence key strategic actions, ensuring equitable distribution of dividends. To accomplish this, the target candidate will be expected to leverage their technical expertise and thought leadership to provide insightful, compelling dividend analysis for MassMutual--------s senior leaders and Board of Directors. The role requires working closely with key actuaries and other leaders across CFO and MM, including those in financial, investment, experience studies, life product development teams, legal, compliance, marketing, internal communications and customer service.

KEY RESPONSIBILITIES

The Actuary--------s responsibilities will focus on the annual dividend schedule (DS) development and recommendation for the Chief Actuary, CFO, Executive Leadership Team (ELT) and MassMutual Board of Directors, annual illustration regulation testing and other key dividend analyses related to other business earnings and management actions.

Dividend Schedule Development & Recommendation

* Support preparation of three to four annual DS Board and ELT presentations and board dividend education manual, analysis, notes and back-up for Chief Actuary and CFO
* Contribute to the recommendations, development, repricing and analysis of the annual DS in alignment with strategic & financial goals, including the data and analysis for all dividend alternatives and their impact on financials, sales, and capital, etc. under baseline and stress scenarios
* Key contact for technical reviews of all dividend-related communications and educational materials (including those for the annual dividend schedule)

Dividend & Product Expertise

* Oversee reviews and approval of dividend methodology and unit dividend formulas for all participating lines of business, including new and inforce participating life products, Worksite, Disability Income, Long Term Care and Annuities
* Serve as Dividend Management representative in various experience study working groups across the organization Involved with development, analysis and recommended enhancements for all DS and illustrations regulation testing (IRT) assumptions needed and execution of hand-offs to DSS developers
* Participate in the analysis and review of testing results for the annual IRT testing. At times, this will require a thorough review of a product--------s IRT results, testing and pricing models, pricing and IRT testing assumptions and practices to research methods to pass IRT testing.

Dividend Analysis & Other Business Support

* Steward the evaluation and communication of the dividend impacts stemming from key strategic projects, management actions and changes to distributable other business earnings
* Perform DS analysis related to dividend sustainability, risk appetite and stress scenarios, investment & expense experience, and other topics as needed
* Proactively seek out and foster relationships with other key partners and stakeholders across MassMutual, including Financial Forecast Consolidation and Analysis, Capital Analytics, Corporate Development, MMUS Finance, and ERM
* Support continuous improvement efforts within team to achieve CFO 2020 goals

QUALIFICATIONS

* Bachelor's Degree required
* Fellow or Associate of the Society of Actuaries
* 4+ years actuarial experience with life insurance products
* Strong analytical and problem solving skills to effectively identify, communicate and develop solutions
* Strong quantitative and technical skills
* Strong oral and written communication skills, including ability to present complex issues such that others can readily understand them
* Distill complex topics and use appropriate judgment to effectively communicate issues, information, and recommendations to peers and management
* Ability to respond to changes in direction, tight deadlines and high pressure situations.
* Ability to work individually and collaboratively with others at all levels and areas of MassMutual
* Proficiency with MS Office products (Excel, VBA, Word, Access) required
* Commitment to MassMutual--------s Winning Ways: Act With Integrity, Focus on the Customer, Value People, Work Collaboratively, and Achieve Results
* Must be authorized to work in the United States without requiring via sponsorship now or in the future

PREFERRED QUALIFICATIONS

* Experience with programming languages (e.g. R, Python, SQL, C++, APL) a plus

Keywords: MassMutual, Springfield , Dividend Strategy and Systems Actuary, Accounting, Auditing , Springfield, Massachusetts

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