Head of Annuity Liability ALM

Head of Annuity Liability ALM

Corporate Actuarial

Full-Time, Boston, MA or Springfield, MA

The Opportunity

MassMutual is seeking an enthusiastic, well-rounded and motivated individual to lead the Annuity Liability ALM team within the Corporate Actuarial organization, reporting to the Head of Liability ALM Strategy.  In this role, this leader will be accountable for ALM strategies of annuity and annuity-like products (collectively “annuity” or “annuities”) in close collaboration with Investment Management and Enterprise Risk Management.  This leader will also partner across Corporate Actuarial, CFO, and the pricing teams of the various businesses in driving ALM related priorities. Annuity products include: MYGA, FIA, VA, Funding Agreements (FABN, FHLB, TradGIC, MuniGIC), PRT, SPIA, DIA, Structured Settlements, and others as assigned. 

The Team

The Impact

• Evaluate, in collaboration with Investment Management and Enterprise Risk Management, the on-going fit and adequacy of existing Annuity ALM and VA/FIA hedging strategies as market environment changes and make strategy, budget and other related recommendations, as applicable, while taking into account costs, risks and benefits of alternatives 

• Evaluate existing Annuity ALM and VA/FIA liability modeling and applicable metrics & measures to improve existing processes and/or make suggested changes 

• Partner with Investment Management and Enterprise Risk Management to drive IOC and CFO agenda and deliver on priorities 

• Critically and logically build financial and/or non-financial analytical models that drive fact-based decision-making to support ALM decision made by the leadership team 

• Provide thought leadership, technical expertise, and value-added support & guidance related to Annuity ALM and VA/FIA hedging 

• Support enforcement of corporate guidelines, governance processes and any other regulatory requirements 

• Closely collaborate with Product/Pricing and Product Pricing Oversight and to ensure adequacy and appropriateness of asset assumptions and ALM strategies recommended as part of the pricing exercise 

• Represent Corporate Actuarial on ALM topics at various company committees and working groups as required (VARC, VAOC, FARC, ALWG, IOC, PAC, etc.) 

• Stay abreast of emerging regulations as they impact applicable aspects of Liability ALM, hedging, economic assumptions and related actuarial work 

• Participation on select US, International and Corporate projects and initiatives as applicable 

• Champion a continuous improvement mindset 

• Team leadership, clear communication and solid partnership with the business and other departments 

The Minimum Qualifications

• Fellow of Society of Actuaries (FSA), Chartered Financial Analyst (CFA) or equivalent professional credential from recognized professional actuarial association 

• 7+ years of insurance and annuity experience, preferably in the U.S. market, in areas such as ALM, hedging, pricing, valuation, reinsurance and/or capital management 

• Strong knowledge of actuarial and risk management concepts and practices; experience with quantifying, analyzing and managing a range of product risks 

• Self-motivated and independent with strong analytical, critical thinking, and problem-solving skills; comfortable dealing with both complexity and ambiguity, and able to explore multiple solutions to problems and challenges 

• Effective time management, planning and organization skills 

• Strong interpersonal, communication and influencing skills: ability to convey complex issues, explain methodologies and influence resolutions in writing and orally 

• Ability to rapidly respond to changes in direction, tight deadlines and high-pressure situations 

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