Role Summary
MassMutual is seeking an enthusiastic, well-rounded and motivated actuary to lead the Actuarial & Investments Audit Team as a key member of the Corporate Audit Leadership Team. Corporate Audit consists of approximately 50 professionals across MassMutual businesses at several locations worldwide and reports directly to the Audit Committee of the MassMutual Board of Directors. Our leaders are driving exciting and challenging initiatives supporting MassMutual's strategic focus on growing the business, enhancing profitability, and focusing on the customer, while also enhancing effectiveness and efficiency.
MassMutual has a very active and vibrant actuarial community. In this leadership role, this individual will be accountable for assessing risks, governance and controls in the various actuarial and investments areas across all of MassMutual’s insurance and investment products, while collaborating on innovative and effective control and governance enhancements. Key stakeholders include the product, pricing, valuation, investment management and risk management areas within the first line business functions, as well as the second line Enterprise Risk Management, Compliance and related control functions.
The Actuarial And Investments Audit Team
- Audits actuarial calculations, methods, and assumptions;
- Evaluates actuarial and investment processes, controls and governance;
- Evaluates actuarial functions such as valuation, product management, and management of established and emerging risks;
- Evaluates consistency with applicable Actuarial Standards of Practice; and
- Partners with other Corporate Audit teams on cross-functional audits.
As Head of Actuarial & Investments Audit, this individual is expected to:
- Design, lead, and deliver risk-based actuarial and investment audits in complex and sensitive areas such as valuation, pricing, investment management and risk management.
- Collaborate with other Corporate Audit Department leaders to make our leadership team more inclusive and effective, and drive strategy and coordination for control functions.
- Influence MassMutual actuaries using expertise in actuarial methods, workflows, and risks.
- Identify and prioritize audits aligned to MassMutual's strategy and top enterprise risks, reflecting input from senior actuaries and governance functions, observations from prior audits, and external perspectives on strategy, actuarial practice, and regulatory developments.
- Evaluate actuarial methods, assumptions, processes, and controls for reasonableness, compliance with corporate standards, and Actuarial Standards of Practice.
- Attract talent, develop the team, and coach the team to deliver valuable audit work covering all actuarial functions and meeting professional audit standards.
- Influence and persuade business partners to improve controls and implement mitigations.
- Champion continuous improvement efforts by driving decisions and execution.
- Serve as a subject matter experts and partner with other audit managers to execute joint audits.
Reports to: General Auditor
Peers: Head of MassMutual US Audit, Head of Information Technology Audit, Head of Audit Data Analytics
Subordinates: Manage team of 4 auditors
This is an opportunity to join a thriving insurance organization. Growth, innovation and a consistent focus on policyholders and customers sets MassMutual apart and gives them a competitive edge in the market. We consistently challenge the organization to deliver stronger and better methods to achieve results and as a result are generating substantial recurring annual growth.
Candidate Qualifications
- Either Fellow of Society of Actuaries (FSA) or Associate of Society of Actuaries (ASA). We will consider equivalent professional credential from recognized professional actuarial association
- 10 years of work experience with a minimum of 7 years of insurance, annuity and investment experience, preferably in the U.S. market, in areas such as product, pricing, valuation, reinsurance, and investment management
- Strong knowledge of actuarial concepts and practices; experience with quantifying, analyzing and managing a range of product risks
- Sufficient knowledge and credibility to be considered a trusted advisor for actuarial and investment functions and
- Demonstrates professional courage and willingness to appropriately challenge and defend findings and enhancement opportunities
- Innovative, 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 planning, project management, time management and organization skills
- Strong interpersonal, communication and influencing skills: ability to convey complex issues, explain methodologies and influence resolutions in writing and orally
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.
