Actuary, Internal Audit



Accounting & Finance
Multiple locations
Posted on Wednesday, April 24, 2024

Actuary, Internal Audit

Actuarial and Investments Audit Team


Springfield, MA or Boston, MA

The Opportunity

As an Actuary, Internal Audit, you will provide crucial assistance during internal audit activities, helping to complete specific tasks within the overall scope of the audit project. You will have the opportunity to function as an operational risk and control expert, providing advice/mentoring to audit associates and business area management while advocating compliance with standards for audit, actuarial, risk, financial and investments standards and best practices.

The Team

Corporate Audit consists of approximately 50 professionals across MassMutual businesses at several locations worldwide. Our work directly contributes to supporting MassMutual’s strategic focus on growing the business, enhancing profitability, and focusing on the customer. Internal Auditors evaluate business processes, risks, and controls, providing guidance towards more effective, efficient, and reliable internal controls.

The Impact

As a member of the Actuarial & Investments (A&I) Audit team you will report directly to the Head of Actuarial & Investments Audit, and you will work collaboratively across the team. As an A&I auditor you will have sufficient knowledge and credibility to be considered a trusted advisor and demonstrate professional courage. Our stakeholders expect audits of controversial topics and areas where MassMutual may not be performing well. The impact you will have on the organization at large will come from evaluating company practices, processes, controls, governance, and risk management.

Responsibilities for the Actuary, Internal Auditor will include, but are not limited to the following:

  • Audit valuation, pricing, product development, financial planning & analysis, investments, asset-liability management, hedging, and risk management
  • Validate actuarial, investment, risk, and financial areas for consistency with internal and external standards and best practices
  • Partner with other Corporate Audit teams on cross-functional audits
  • Inspire others by articulating how our work aligns with MassMutual’s purpose and strategy
  • Advocate continuous improvement efforts by driving decisions and execution
  • Evaluate methods, assumptions, processes, and controls for reasonableness, compliance, and consistency with internal and external standards, including 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 collaborate with business partners to improve controls and governance
  • Recommend and negotiate appropriate business solutions to manage identified and emerging risks
  • Involved in activities such as preparation of detailed programs for actuarial and investment audits, review of complex calculations and processes, and assessment of procedures to determine efficiency, effectiveness, and compliance with policies and standards
  • Serve as the subject matter expert, provide advice, coach, and facilitate training of new auditors

The Minimum Qualifications

  • Bachelor’s Degree in actuarial science, mathematics, statistics, or related discipline
  • ASA or FSA (or equivalent) and MAAA designations
  • 5+ years of progressive actuarial or audit experience

The Ideal Qualifications

  • 8+ years of relevant actuarial experience
  • Demonstrated versatility in communicating up, down, and across the organization by working with others and demonstrated ability to steer discussions with various levels of leadership across the enterprise
  • Experience concurrently leading complex projects involving many functional stakeholders
  • Demonstrated broad knowledge of insurance concepts, investments, risk management, financial reporting and analysis, pricing / product development, valuation, ALM, and hedging
  • Works self-sufficiently, enthusiastically engaging clients and peers to complete value-added assignments within the defined project scope and timelines
  • Ability to quickly familiarize with new practice areas and understand business challenges
  • Experience performing audit techniques including evaluating risks and controls, testing calculations, validation of team audit work, and negotiating control improvements and confirming their implementation
  • Broad knowledge of life, annuity, DI, and LTC products
  • Demonstrates a strong understanding of risk concepts including inherent and residual risks as well as how to assess the design and effectiveness of internal controls
  • Experience with any actuarial projection software such as GGY AXIS or Prophet
  • Familiarity with general programing languages and visualization tools such as R, Python, SQL, Alation, MicroStrategy, and Tableau

What to Expect as Part of MassMutual and the Team

  • Regular meetings with the Actuarial & Investments Audit 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:


At MassMutual, we focus on ensuring fair equitable pay, by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.

Why Join Us.

We’ve been around since 1851. During our history, we’ve learned a few things about making sure our customers are our top priority. In order to meet and exceed their expectations, we must have the best people providing the best thinking, products and services. To accomplish this, we celebrate an inclusive, vibrant and diverse culture that encourages growth, openness and opportunities for everyone. A career with MassMutual means you will be part of a strong, stable and ethical business with industry leading pay and benefits. And your voice will always be heard.

We help people secure their future and protect the ones they love. As a company owned by our policyowners, we are defined by mutuality and our vision to put customers first. It’s more than our company structure – it’s our way of life. We are a company of people protecting people. Our company exists because people are willing to share risk and resources, and rely on each other when it counts. At MassMutual, we Live Mutual.

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.

At MassMutual, we focus on ensuring fair, equitable pay by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component. For more information about our extensive benefits offerings please check out our Total Rewards at a Glance.