Actuary, Consolidated Reporting & Capabilities at MassMutual

Actuary, Consolidated Reporting & Capabilities

Consolidated Reporting & Capabilities Team

Full-Time

Boston, MA or Springfield, MA or New York, NY

The Opportunity

The Actuary will be responsible for supporting MassMutual’s actuarial valuation consolidated reporting and providing data and modeling expertise to ensure effective capabilities across the department. This role will also support the Head of Consolidated Reporting & Capabilities in managing the annual cash flow testing process and performing results analysis. The successful candidate will collaborate with various internal/external stakeholders and work closely with production valuation teams to improve model processes and streamline workflows.

The ideal candidate will exhibit strong technical expertise in insurance products, financial reporting, and valuation modeling. They will be proactive in identifying and implementing process improvements to enhance valuation reporting processes and capabilities by unlocking untapped potential in data management and process flows. This individual will be a trusted partner, contributing to the continuous improvement of our valuation tools and processes, while ensuring alignment with end-user requirements.

The Team

The Consolidated Reporting & Capabilities Team is focused on reporting for all of MassMutual’s line of business and utilizing financial data to drive important changes to our valuation processes, models, controls, financial statements and disclosures. The team needs to build strong relationships with its key stakeholders within CFO organization and is in a prime position to ensure we have effective capabilities across all valuation teams. We are seeking an individual that will help modernize and transform the delivery of accurate financial information and analysis through the use of various data and modeling tools.

The Impact

Reporting and Analysis:

• Prepare and deliver reporting of monthly/quarterly consolidated valuation results, including year-end reporting exhibits.
• Support the annual asset adequacy testing process, including aggregation of results, analysis, and communication.
• Ensure use of the valuation governance framework for reporting, model development, testing, and management.
• Provide technical expertise and support to production valuation teams to continuously improve model processes and streamline workflows.

Trusted Business Partner:

• Prepare and effectively communicate financial information to various internal and external stakeholders, understanding the impact of regulation, valuation assumption/data changes on results.
• Collaborate with Valuation leads, Forecasting, Corporate Finance, Technology, and Risk teams to ensure that consolidated reporting results and processes, data, and modeling updates meet reporting requirements and control standards.
• Drive valuation data and modeling projects with various stakeholders including production valuation teams, reinsurance, controllership, and other relevant departments.  

Valuation Data & Modeling Support and Process Improvements:

• Support projects related to valuation data and modeling by collaborating across teams to ensure effective delivery.
• Conduct research on best practices related to data and modeling, including emerging regulatory requirements, and recommend approaches to implement new capabilities.
• Identify and implement process improvements and new capabilities to enhance valuation and reporting processes

The Minimum Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Economics, Finance, Statistics, or a related field
• ASA or FSA with 5+ years of actuarial experience
• 2+ years experience with SQL, Python and/or R   
• 1+ years experience in data management and actuarial modeling, and experience working with valuation systems, data lake and related reporting tools

The Ideal Qualifications

• FSA highly desired.Experience with Moody’s AXIS and/or Prophet Modeling Platforms
• 7+ years actuarial experience in modeling, valuation, and reporting, or in pricing, assumptions development, or risk management.
• Continuous improvement and strong controls mindset
• Strong communication skills, both written and verbal
• Ability to build and maintain strong working relationships across cross-functional groups
• Demonstrated financial statement knowledge of US Statutory and GAAP reporting, including Principles Based Reserves (PBR) and GAAP Long Duration Targeted Improvements (LDTI)
• Strong modeling, technical and leadership skills with ability to effectively execute on valuation processes and communicate results.
• Deep knowledge of life insurance and annuity products, valuation techniques, regulations and methodologies.
• Experience with cash flow testing and/or actuarial projections.

What to Expect as Part of MassMutual and the Team

• Regular meetings with the Actuarial Valuation Team 
• Focused one-on-one meetings with your manager
• Access to mentorship opportunities 
• Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran and disability-focused Business Resource Groups
• Access to learning content on Degreed and other informational platforms
• Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits

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MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.

If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.