Actuary - New Product Pricing

Description

As a leading provider of annuities, MassMutual Ascend is committed to taking financial futures above and beyond. This means offering innovative products that fit our customers’ unique needs – whether it’s protecting their hard-earned savings, receiving guaranteed income, or providing for loved ones. MassMutual Ascend is proud to offer customers a level of strength and stability they can count on for years to come.

The Opportunity

The New Product Pricing Actuary will analyze, price and assess the risk of new designs and improvements to existing products. As a New Product Pricing Actuary, you will oversee the work of an actuarial analyst and collaborate across all areas of the company.

Job Responsibilities

• Price and assist in the development of new annuity products (Fixed, Fixed Indexed and Registered Index-Linked) and riders (Income and Death Benefit)
• Translate complex pricing concepts/analysis into a simplified, easy to understand results
• Assess risks associated with annuity products/riders and analyze mitigants for those risks
• Review new strategies and their potential impacts on pricing returns and renewal rates
• Build detailed, comprehensive pricing models based on product design
• Balance pricing granularity vs. efficiency; balance detail with realistic best practice
• Demonstrate results are in line with corporate standards
• Anticipate internal / external business challenges and / or regulatory issues
• Manage and/or oversee work of one actuarial analyst
• Collaborate with the New Product Pricing Lead
• Collaborate across MassMutual Ascend Product and Pricing, Enterprise Risk Management, Financial Actuarial, Finance, Sales, Marketing, Legal and IT; MassMutual Corporate Actuarial and Business Analytics, Enterprise Risk Management and Investment Management; and third-party relationships such as reinsurers

Minimum Qualifications

• Must have obtained ASA
• At least 7 years of experience
• Working knowledge of annuity pricing, including STAT accounting
• Experience with actuarial projections and analysis of Fixed Indexed Annuities and Registered Index-Linked Annuities
• Experience with actuarial projection software
• Strong analytic skills
• Solid communication and interpersonal skills
• Attention to detail and ownership of results

Ideal Qualifications

• Must have obtained FSA
• Experience with Prophet modeling software
• Extensive knowledge or pricing experience with Registered Index-Linked Annuities, Fixed Indexed Annuities, and Fixed Deferred Annuities
• Supervisory experience

What To Expect

• Focused one-on-one meetings with your manager
• Focused one-on-one meetings with your direct report
• Ongoing opportunities for development and learning
• Working in a fast-paced environment with available flexible work schedules
• A place to grow your career in a culture that inspires, rewards and develops employees
• Small company feel with a focus on meeting customer’s needs today and also well into the future

Why Join Us.

At MassMutual Ascend, our collaborative culture is key to our success. It’s the reason we’re a leading provider of annuities today, and it’s the reason we’ll continue rising to the top tomorrow. A career at MassMutual Ascend means you’ll contribute to our mission of taking financial futures above and beyond – and you’ll be inspired to reach your own goals, too. As a wholly owned subsidiary of MassMutual, MassMutual Ascend continues to be an employer of choice in the Cincinnati, Ohio community.

MassMutual Ascend Life Insurance Company is an Equal Employment Opportunity employer. We welcome all persons to apply.

At MassMutual Ascend we focus on ensuring fair, equitable pay by providing competitive salaries, along with incentive and bonus opportunities for all employees.  Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.  For more information about our extensive benefits offerings please check out our Total Rewards at a Glance..