MassMutual

Actuary - Inforce Analytics & Regulatory Oversight

Reposted 4 Hours Ago

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Springfield MA USA

Hybrid

145K-190K Annually

Senior level

Big Data • Fintech • Information Technology • Insurance • Financial Services

We help people secure their future and protect the ones they love.

The Role

The Actuary will provide analysis and leadership on inforce management and regulatory deliverables oversee compliance and collaborate across teams to enhance profitability and reporting for insurance products.

Summary Generated by Built In

Actuary - Inforce Analytics & Regulatory Oversight
Full-Time Springfield or Boston
The Opportunity
The Dividend Inforce Management and Experience Studies organization within Corporate Actuarial is looking for an energetic actuary with strong analytical skills to join the Inforce Analytics & Regulatory Oversight team. Reporting to the Head of Inforce Analytics & Regulatory Oversight you will have an opportunity to use your business and actuarial analytic skills to provide expert-level analysis and thought leadership regarding inforce management and other inforce-related regulatory deliverables.
The Team
The Inforce Analytics & Regulatory Oversight Team is motivated to be a trusted partner and go-to provider of thought leadership subject matter expertise and insights into inforce management. This small high performing team is comprised of seasoned actuaries and financial professionals who are responsible for the analytics and modeling systems used for profitability and surplus analysis for life and annuity products as well as overseeing the execution of key regulatory deliverables (e.g. NGE compliance and filings Illustration Actuary Certifications 4228 monitoring and filings etc.). The team manages complex regulatory certifications and supporting analysis monitors non-guaranteed elements and partners across Actuarial Finance Product Distribution and Law to deliver actionable insights to inform inforce decision making and ensure compliance with evolving regulatory requirements.
The Impact
The team is actively looking for an Actuary to advance and serve as a subject matter expert on inforce analytics and various regulatory deliverables with key responsibilities including:

Supporting the production and documentation of Illustrations Regulation Testing for inforce non-traditional life and term plans UltraCare and executive benefit plans as well as supporting Illustration Actuary oversight for traditional whole life participating products and associated riders
Managing New York Non-Guaranteed Elements (NY NGE) compliance including coordinating with other stakeholders involved in monitoring towards ensuring compliance
Supporting other ongoing regulatory related deliverables including NY Section 4228
Develop analyze document and communicate profitability studies for non-traditional life executive benefit term product and certain annuity products
Monitor and propose changes to non-guaranteed elements including crediting rate setting and repricing to achieve profitability objectives and reflect current experience
Manage and support the ongoing maintenance of applicable actuarial models that support profitability illustration regulation testing and other inforce analytics
Collaborate with cross-functional teams to support ad hoc and other strategic initiatives including the modeling and reporting build out for Value of Inforce or other Inforce Profit Metric (i.e. Embedded Value) as well as development of product inventories and associated dashboards for real time monitoring of inforce portfolio
Identify and implement continuous improvement opportunities and regularly adapt current tools models processes and reporting to meet business needs

The Minimum Qualifications

Bachelor's degree in Mathematics Actuarial Science Finance or Computer/Data Science or related field
5+ years of actuarial experience working in insurance risk or financial services
Associate of the Society of Actuaries (ASA)

The Ideal Qualifications

Fellow of the Society of Actuaries (FSA) or near-FSA
Member American Academy of Actuaries a plus
Experience with insurance products insurance accounting and finance and field compensation
Experience with NY NGE compliance and NY Section 4228 a plus
Advanced proficiency in actuarial modeling tools (e.g. APL Prophet AXIS MG ALFA) and modern data analytics platforms (e.g. Excel SQL Alteryx Python); experience leveraging generative AI tools to increase improve workflows and efficiency a plus
Strategic thinker who can work independently and distill findings into key conclusions and recommendations
Self-motivated and driven self-starter
Role models behaviors (e.g. strong interpersonal skills intellectual curiosity high level of professionalism inclusive behaviors initiative and sense of urgency orientation toward team and enterprise success)
Effectively manage and deliver on multiple concurrent deliverables
Analyze and comprehend complex information as well as convey complex materials to non-technical audiences
Authorized to work in the US with or without sponsorship now or in the future

#LI-ST1
MassMutual is an equal employment opportunity employer. We welcome all persons to apply.
If you need an accommodation to complete the application process please contact us and share the specifics of the assistance you need.
California residents: For detailed information about your rights under the California Consumer Privacy Act (CCPA) please visit our California Consumer Privacy Act Disclosures page.
Salary Range: $144800-$190000

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The Company

HQ: Springfield MA

6000 Employees

Year Founded: 1851

What We Do

Since 1851 MassMutual’s commitment has always been to help people protect their families support their communities and help one another. This is why we want to inspire people to Live Mutual. We’re people helping people. Together we’re stronger.

Why Work With Us

MassMutual has the financial security and stability of a 170+ year old company with the culture and energy of a startup. We work every day with the customer front of mind to build the best digital experience in the industry.

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Employees engage in a combination of remote and on-site work.

We believe in capitalizing on the best of being together in our offices as well as personal flexibility. Our workplace philosophy puts office collaboration first combined with flexibility to work remotely.

Typical time on-site: 3 days a week