Actuary - Pension Risk Transfer (PRT) Pricing



Accounting & Finance
Boston, MA, USA
Posted on Wednesday, August 23, 2023

Actuary – Pension Risk Transfer (PRT) Pricing

Boston, Massachusetts Actuarial Job ID R14095

Actuary – Pension Risk Transfer (PRT) Pricing

Pension Risk Transfer Team


Boston, MA or Springfield, MA

The Opportunity

MassMutual is seeking an accomplished Actuary to join the company’s Pension Risk Transfer team.  In addition to supporting pricing, analysis, and underwriting of PRT opportunities, this role will assist with RFP responses, product development, and contract reviews.  Effective collaboration and communication are needed to support relationships with external business partners and internal operations and corporate business functions.

The Team

The Pension Risk Transfer business represents a key component of the company’s Institutional Solutions business. This position will support continued growth in the Pension Risk Transfer business with an opportunity for you to apply your knowledge of pricing and longevity products to help achieve MassMutual’s strategy in this business.

The Impact:

  • Pricing of pension risk transfer opportunities
  • Underwriting and analyzing new risks
  • Preparation of proposals for new business
  • PRT Product development and modifications
  • Review of group annuity contracts and certificates
  • Collaborate with Pricing, Product, Legal, Investments, and Corporate on assumption development and approval, pricing processes, exceptions, and document drafting
  • Develop and maintain relationship with consultants and advisors
  • Actuarial projects in support of the Pension Risk Transfer business

The Minimum Qualifications

  • Bachelor’s degree or higher
  • Associate of Society of Actuaries (ASA)
  • 4+ years of actuarial experience

The Ideal Qualifications

  • FSA, EA designation or Defined Benefit experience
  • Pricing and/or Product Development experience
  • Knowledgeable in aspects of pension plan design or pension risk transfer
  • Experience in actuarial modeling software (ProVal, Prophet, AXIS, other)
  • Demonstrated initiative and has a sense of urgency; takes ownership and is results-orientated in a fast-paced work environment
  • Ability to effectively time manage and deliver on concurrent projects
  • Disciplined approach to strategic initiatives, business projects and day-to-day activities
  • Ability to analyze and comprehend complex information, as well as convey technical material to non-technical audiences
  • Comfortable dealing with both complexity and ambiguity, with ability to explore multiple solutions to a problem
  • Detail oriented with strong analytical, critical thinking and problem solving skills
  • Excellent interpersonal and communication skills (written, verbal, presentation)
  • Demonstrated high potential to take on greater responsibilities within a relatively short timeframe

What to Expect as Part of MassMutual and the PRT Team

  • Regular meetings with the Pension Risk Transfer 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
Salary Range: $131,100.00-$172,000.00 Apply

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.