Browse thousands of opportunities across our network of innovative companies
Head of Variable Annuity Pricing
MassMutual
Multiple locations
Posted on Oct 23, 2024
The Opportunity
As Head of Variable Annuity Pricing you will play a key role in helping MassMutual responsibly grow our variable annuity business. The annuity organization will rely on you to be a financial steward of the business, ensuring sound pricing decisions are made. As Head of Variable Annuity Pricing, you will lead a team with responsibility for managing priorities and facilitating development. You will be well positioned to influence the long-term strategy of the business and effective communication of that strategy will be paramount. If you possess strong business acumen, and are an agile and accountable business leader, keep reading!
The Team
The annuity pricing team is a motivated group focused on developing a diverse suite of products that meet customer needs in a variety of economic environments. This position will lead the team tasked with setting and executing the pricing strategy for MassMutual’s variable annuities. In addition to Annuity pricing, this role is also expected to support all other actuarial aspects of Annuity product management, operations support, and distribution. This potentially means active involvement with experience studies, hedging & ALM, competitive analysis, and other actuarial functions.
The Impact:
- Lead a team with responsibility for the pricing of new and existing variable annuity products
- Recommend and defend a durable pricing framework
- Go beyond technical analysis to orchestrate innovative and creative solutions that meet our business needs
- Influence and persuade business partners to accomplish joint goals
- Maintain a balanced view of profitability, risk, and sales potential
- Collaborate with our business partners to understand the competitive landscape and be a key player in the design of new products that balance competitiveness and profitability
- Lead pricing review and approval process with both Corporate Actuarial, Product, and Enterprise Risk Management
- Gain proficiency in the FIS Prophet actuarial software
- Influence and provide key contributions to ongoing business strategy and growth
The Minimum Qualifications
- Bachelor’s degree in actuarial science, math, statistics, or related discipline
- Fellow of the Society of Actuaries
- Experience with actuarial software such as Prophet, AXIS, or Alpha
- 10+ years experience in actuarial roles
- 3+ years of experience with pricing OR variable products
- Experience leading, developing, and coaching a diverse team
- Disciplined approach to strategic initiatives, business projects and day-to-day activities
- Demonstrated ability to effectively manage and deliver on multiple concurrent deliverables.
- Demonstrated success dealing with complexity and ambiguity, with ability to explore multiple solutions and champion the best alternative
- Ability to influence others and drive engagement
The Ideal Qualifications
- 12+ years experience in actuarial roles
- 3+ years of experience with pricing AND variable products
- Experience in Prophet
- Ability to analyze and comprehend complex information, as well as convey complex materials to non-technical audiences
#LI-IZ1
Salary Range:
$180,700.00-$237,100.00At 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.