Actuary
LTC Actuary
Full-Time
Boston, MA or Springfield, MA or New York, NY
The Opportunity
We are hiring a mastery level actuarial position for our long term care product line. Responsibilities include inforce product management for both stand-alone and hybrid long term care insurance products. This position involves collaborating across a wide variety of functions including legal, compliance, underwriting, claims, operations, enterprise risk management and IT.
The Impact
- Support annual rate certifications, dividend analysis, illustration regulation testing, and inforce rate increases.
- Extract relevant insights from data and/or models and present complex analysis in simple and straightforward manner to key stakeholders
- Apply actuarial pricing and management models, building or enhancing them as necessary, to support product pricing analysis and design
- Identify risks inherent in new and current product design and develop strategies and processes to manage and mitigate such risks
- Analyze experience studies and develop assumptions for new and inforce products
- Perform sensitivity testing on key assumptions to help quantify risks and mitigations
- Work with implementation teams on all product initiatives
- Form opinions, make recommendations, and drive decisions and execution
- Comply with Actuarial Standards of Practice, Code of Professional Conduct and company standards
- Support continuous improvement through:
- Keeping innovation in the forefront
- Improving processes and practices
- Providing fresh perspectives, breakthrough ideas, and new paradigms to create value
- Advocating for change, improvement, and optimal value added across the organization
- Asking questions and challenging the status quo
- Taking ownership and personal responsibility
- Support other team initiatives as needed
Minimum Qualifications
- Bachelor’s degree in actuarial science, math, statistics, or related discipline
- Associate of the Society of Actuaries
- 5+ years experience in actuarial roles
- 1+ year of experience with actuarial software and modeling, demonstrating the ability to build, validate, enhance, and maintain actuarial models
- 1+ years of experience with one of the following; long term care, disability income, chronic illness, accident or hybrid products.
Ideal Qualifications
- FSA and MAAA designations
- Experience with state product filing, rate filings, and objection responses
- Experience with AXIS, R, or Python
- Qualified to sign statements of actuarial opinion for long term care
- Strong interpersonal and communication skills, both written and verbal
- Demonstrated ability to interact with technical and non-technical audiences
- Demonstrated ability to deal with complexity and ambiguity, with ability to explore multiple solutions and champion the best alternative
What to Expect as Part of MassMutual and the Team
- Regular meetings with the LTC Inforce Management 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
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.
