What are the responsibilities and job description for the AXIS Modeling Actuary position at MassMutual?
Location: New York, NY, Springfield, MA or Boston, MA
The Opportunity
At MassMutual, we’re dedicated to helping people secure their future and protect the ones they love. The Corporate Actuarial organization supports this mission with actuarial and business analytics, while providing our employees with meaningful career experience. To support the expanding role and influence of our valuation models, we are hiring an Actuary for the Life Valuation Modeling team.
The Team
The Valuation Modeling Team helps to protect the long-term interests of policyholders by ensuring MassMutual is positioned to meet its future obligations. Responsible for over $100 billion in direct statutory reserves, the team performs statutory, GAAP/LDTI and tax valuation on Par Whole Life, Term, UL and VUL products. Our work affects regulatory compliance, strategic decision-making and inforce management. For those interested in modeling, interpreting, and communicating financial results in a collaborative team environment, this is an exciting role.
The Impact:
- Apply deep modeling expertise to all phases of input, processing, and output of valuation projections in Axis
- Utilize modeling acumen to execute complex projects such as Cash Flow Testing, new product implementations, assumption change, and structural model updates
- Deliver and explain Stat, Tax and GAAP financial results.
- Develop and improve existing control and versioning methodology in valuation models
- Improve efficiency by leveraging communication skills with internal and external technology partners
- Apply knowledge of life insurance products and regulations to navigate complexity, ambiguity, and limitations in valuation software
- Work directly with various audit stakeholders to demonstrate compliance with regulatory and model governance standards
- Demonstrate agility in responding to stakeholder questions and unexpected results, often at times of peak activity and tight deadlines
The Minimum Qualifications
- Bachelor's degree in actuarial science, mathematics, statistics, data science, computer science, engineering, or a related quantitative or technical field.
- ASA designation
- 4 years of actuarial experience within insurance, financial services, or a related quantitative field.
- 1 years of experience with Axis
The Ideal Qualifications
- FSA designation
- 4 years of experience with Axis, including model leadership or stewardship roles
- Demonstrated accountability and ownership of long-term independent projects
- Proficient with Axis features such as DataLink, investment cells, scenario files, and embedded block processing
- Understanding of modeling infrastructure such as ELink, GridLink, and output databases
- Expertise with identifying multiple solutions to a problem, and developing collaborative solutions to software limitations
- Ability to estimate resource requirements and set expectations with key stakeholders for highly visible projects
- Experience with Principle-Based Reserves, valuation regulations, product design, modeling assumptions, and inforce policy data
- Proficient with model-supported software such as MS Excel and SQL.
- Strong math, analytical and collaboration skills
- Strong communication skills, both written and verbal
- Continuous improvement mindset
- Ability to build and maintain strong working relationships across cross-functional groups
What to Expect as Part of MassMutual and the Team
- Regular meetings with the Life 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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