Actuary, Consolidated Reporting & Capabilities
Company: MassMutual
Location: Malden
Posted on: October 8, 2024
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Job Description:
Actuary, Consolidated Reporting & Capabilities
Consolidated Reporting & Capabilities Team
Full-Time
Boston, MA or Springfield, MA or New York, NY
The Opportunity
The Actuary will be responsible for supporting MassMutual's
actuarial valuation consolidated reporting and providing data and
modeling expertise to ensure effective capabilities across the
department. This role will also support the Head of Consolidated
Reporting & Capabilities in managing the annual cash flow testing
process and performing results analysis. The successful candidate
will collaborate with various internal/external stakeholders and
work closely with production valuation teams to improve model
processes and streamline workflows.
The ideal candidate will exhibit strong technical expertise in
insurance products, financial reporting, and valuation modeling.
They will be proactive in identifying and implementing process
improvements to enhance valuation reporting processes and
capabilities by unlocking untapped potential in data management and
process flows. This individual will be a trusted partner,
contributing to the continuous improvement of our valuation tools
and processes, while ensuring alignment with end-user
requirements.
The Team
The Consolidated Reporting & Capabilities Team is focused on
reporting for all of MassMutual's line of business and utilizing
financial data to drive important changes to our valuation
processes, models, controls, financial statements and disclosures.
The team needs to build strong relationships with its key
stakeholders within CFO organization and is in a prime position to
ensure we have effective capabilities across all valuation teams.
We are seeking an individual that will help modernize and transform
the delivery of accurate financial information and analysis through
the use of various data and modeling tools.
The Impact
Reporting and Analysis:
Prepare and deliver reporting of monthly/quarterly consolidated
valuation results, including year-end reporting exhibits.
Support the annual asset adequacy testing process, including
aggregation of results, analysis, and communication.
Ensure use of the valuation governance framework for reporting,
model development, testing, and management.
Provide technical expertise and support to production valuation
teams to continuously improve model processes and streamline
workflows.
Trusted Business Partner:
Prepare and effectively communicate financial information to
various internal and external stakeholders, understanding the
impact of regulation, valuation assumption/data changes on
results.
Collaborate with Valuation leads, Forecasting, Corporate Finance,
Technology, and Risk teams to ensure that consolidated reporting
results and processes, data, and modeling updates meet reporting
requirements and control standards.
Drive valuation data and modeling projects with various
stakeholders including production valuation teams, reinsurance,
controllership, and other relevant departments.
Valuation Data & Modeling Support and Process Improvements:
Support projects related to valuation data and modeling by
collaborating across teams to ensure effective delivery.
Conduct research on best practices related to data and modeling,
including emerging regulatory requirements, and recommend
approaches to implement new capabilities.
Identify and implement process improvements and new capabilities to
enhance valuation and reporting processes
The Minimum Qualifications
Bachelor's degree in Actuarial Science, Mathematics, Economics,
Finance, Statistics, or a related field
ASA or FSA with 5+ years of actuarial experience
2+ years experience with SQL, Python and/or R
1+ years experience in data management and actuarial modeling, and
experience working with valuation systems, data lake and related
reporting tools
The Ideal Qualifications
FSA highly desired.Experience with Moody's AXIS and/or Prophet
Modeling Platforms
7+ years actuarial experience in modeling, valuation, and
reporting, or in pricing, assumptions development, or risk
management.
Continuous improvement and strong controls mindset
Strong communication skills, both written and verbal
Ability to build and maintain strong working relationships across
cross-functional groups
Demonstrated financial statement knowledge of US Statutory and GAAP
reporting, including Principles Based Reserves (PBR) and GAAP Long
Duration Targeted Improvements (LDTI)
Strong modeling, technical and leadership skills with ability to
effectively execute on valuation processes and communicate
results.
Deep knowledge of life insurance and annuity products, valuation
techniques, regulations and methodologies.
Experience with cash flow testing and/or actuarial projections.
What to Expect as Part of MassMutual and the Team
Regular meetings with the Actuarial 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
#LI-ST1
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.
Keywords: MassMutual, Lawrence , Actuary, Consolidated Reporting & Capabilities, Accounting, Auditing , Malden, Massachusetts
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