MassMutual Financial Group Actuary - Life Product Management and Pricing in Springfield, Massachusetts

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This is a senior actuarial position within the Life Product Management and Pricing team. This team is responsible for new product / product enhancement pricing initiatives and ensuring viable and sustainable life product offerings for MMUS. For pricing initiatives to be successful they must meet the needs of three key stakeholders – our end customers, our distribution partners and our company. Individuals interested in meaningful work in a product line critical to our company’s success and being involved at the intersection of sales and financial stewardship will find this position in Life Product Management and Pricing a rewarding opportunity.


  • Partner with the Innovation teamin product developmentideation

  • Lead the development ofpricing assumptions

  • Using actuarial principles andpricingmodels(APL, GGY, Excel),lead thedesignandpricing ofnew life insurance products and/orenhancements to existing life products

  • Develop and/or enhance pricing models to support product pricing analysis and design

  • Securerequiredpricing approvals from key stakeholdersby balancing competitive benchmarks and acceptable levels of expected profit and risk

  • Oversee creationand maintenance ofpricing assumption andfinalpricing documentation

  • Research state/federal regulations that govern life insurance anddevelopactuarial demonstrations to support state and federal filings of life products

  • Assist with NAIC Illustration testing as needed toobtainnecessary approvals

  • Provide internal (home office) and external (agent) actuarial support as needed

  • Work withjunior staff andimplementationteamstodefine rate file specifications

  • Oversee development ofrate filesthat contains all rates necessary to issue and service a new productor product enhancement, and ensure that rate file structure is consistent with agreed upon format and has been thoroughly tested to assure accuracy

  • Provide thought leadership and lead analysis on a range of topics such as reinsurance strategy, algorithmic underwriting and capital use

  • Educate senior leadership/other areas of the organizationon keylife product issuesand championrelated solutions

  • Mentor and train junior teammembers

  • Manage work efforts of team members assigned to projects


  • Fellow, Society of Actuaries(near FSAs will be considered)

  • Member of the American Academy of Actuaries

  • 5+years of experiencewith 2+ years of product development / product management experience

  • Strong knowledge of actuarial concepts as they relate to product pricingand product management

  • Actuarialmodeling proficiency, e.g.working knowledge of APLand/or GGY

  • Knowledge of life insurance andstate/federal regulations that govern life insurance (e.g.reserve, nonforfeiture,andillustration regulations)

  • Ability to drive initiatives and influence the organization, inquisitiveness, ownership, and ability to makesounddecisions

  • Authorized to work in the US without sponsorship


  • Advancedknowledge of Excelrequired (VBA a plus)


Focus on the Customer : Know your customers well; add value with a sense of urgency.

Act with Integrity : Be trustworthy, adhere to high ethical standards and adhere to the letter and spirit of applicable laws, rules, regulations and company policies.

Value People : Lead people to success; appreciate diverse backgrounds, ideas and experiences.

Work Collaboratively: Partner with others to achieve results that leverage the right resources.

Achieve Results : Focus on winning; consistently exceed expectations, beat the competition.

MassMutual Financial Group is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation