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Head of Pension Valuation

Company: MassMutual
Location: Springfield
Posted on: August 13, 2019

Job Description:

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 in turn will inspire confidence and trust from our stakeholders.To help us achieve our mission, we are hiring a Head of Pension Valuation to join our team.What great looks like in this roleOur ideal candidate is a leader in both people development and technical knowledge. You--------ll use your skills to help ensure MassMutual--------s financial strength. You--------re also in a position to influence and implement emerging regulations, oversee the continuing transformation of the pension valuation function and work with various business partners who can leverage your financial knowledge.OBJECTIVES OF THIS ROLE* Lead, manage and develop the pension valuation team which covers defined benefit and contribution plans (but not the enrolled actuarial work)* Drive the transformation of pension valuation and reporting functions in order to improve the accuracy and efficiency of these functionsDAILY AND MONTHLY RESPONSIBILITIES:PEOPLE & CULTURE* Set clear expectations and stretch goals in alignment with MassMutual--------s strategy. Hold team accountable for individual and team performance across organizational boundaries. Attract, assess, retain, and develop talent to build an inclusive environment and diverse pipeline to help people secure their futures and protect the ones they love. Provide ongoing candid feedback and coaching to help ensure individuals are driving innovation, continuously improving, and meeting goals. Be a change leader, helping employees navigate change to maximize engagement, empower team members, and increase productivity.STANDARD WORK* Oversee monthly production / reporting / analysis / explanation of reserves (direct and ceded, and including principle-based reserves)/DAC/experience reporting for all annuity products* Oversee annual reserve adequacy testing process for pension products -----" production / reporting / analysis of results* Usage of the valuation governance framework, including assumption-setting, model development and management, data governanceCUSTOMER SUPPORT

* Oversee preparation of projection information for various customers (e.g. Financial Planning & Analysis, Investment Management)* Provide valuation advice to product pricing and reinsurance/capital transactionsVALUATION ISSUES

* Manage analysis and communication of valuation issues* Oversee monitoring/influencing/implementation of emerging valuation regulation -----" specifically variable annuity guarantee regulation and GAAP long-duration targeted improvementsINFRASTRUCTURE

* Oversee building/enhancement/maintenance of actuarial models thru conversions, new products/product changes, transactions, regulatory changes, etc. -----" specifically completing conversion of projection capabilities to FIS-------- Prophet system* Oversee building of data strategy, both for valuation and overall CFO -----" specifically working within other data transformation efforts throughout the company to improve the data accuracy in valuation and reporting functionsSKILLS AND QUALIFICATIONS

* 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* Proven leadership and talent development experience* Adept at engaging and inspiring others* Continuous improvement mindset* Strong working knowledge of valuation techniques* Strong working knowledge of US insurance products and pricing* Strong communication skills, both written and verbal* 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* Self-awareness

Keywords: MassMutual, Springfield , Head of Pension Valuation, Other , Springfield, Massachusetts

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