Head of Institutional Insurance Product & Actuarial

0 Saved Jobs Head of Institutional Insurance Product & Actuarial Springfield, Massachusetts; Boston, Massachusetts Job Category Actuarial

ID R20824 OVERVIEW

JOB

DESCRIPTION

HIRING PROCESS CULTURE BENEFITS Thank you to our employees for voting us one of the top places to work in Massachusetts for seven consecutive years! Overview At MassMutual, actuaries play a key role in the company's strategic decision-making. They support our expanding client base by developing innovative products, identifying new market opportunities, and driving initiatives that fuel business growth. Our actuarial team draws intellectually curious individuals who want to work somewhere where they're empowered to make change. At MassMutual you'll find challenging and impactful work, a culture of recognition, and a supportive growth environment. Vy Ho Chief Actuary "At MassMutual, our actuarial community is driven by a shared commitment to excellence, innovation, and impact. We empower our actuaries to grow through meaningful work, collaborative teams, and a culture that values both technical rigor and human connection. Whether you're just starting out or advancing your career, you'll find opportunities here to shape the future of financial security while building a career that matters." Job Description Head of Institutional Insurance Product & Actuarial Full-Time Boston, MA or Springfield, MA The Opportunity MassMutual is seeking an accomplished Leader and Actuary to join the Institutional Product and Actuarial team. This role will lead pricing assumption development, model ownership, product development and in-force analytics for our Institutional Insurance business, including Bank, Corporate and Insurance Company Owned Life Insurance (BOLI, COLI, ICOLI). The role is within Institutional Solutions, a growing segment of MassMutual representing a key component of the company's overall strategy. The Team The role will manage a team of actuarial and/or quantitative consultant roles. The team works collaboratively with the Institutional Insurance market leader and team to achieve profitable growth and provide in-force and new business insights, while ensuring we adhere to all regulatory, compliance and corporate governance policies. Team strengths include collaboration, execution mindset, influence, business acumen, and technical skills. The Impact In this management role, you will utilize your leadership, business acumen, actuarial expertise, and relationship management skills to drive profitable growth while aligning to MassMutual's risk management framework, monitor and glean insights from existing business to monitor risk, refine assumptions, and manage the in-force Institutional Insurance business.

Specific responsibilities include:

Coach and develop a team of actuarial and/or quantitative consultant roles. Oversee custom pricing to support achievement of sales goals and profitability metrics, while continuously monitoring and improving key performance indicators Partner with the MassMutual Sales Team in pursuit of new business and with Operations for complex case onboarding or post issue service conversations. Oversee rate setting of certain products in accordance with our policy and MassMutual's Nonguaranteed Elements framework Ownership of pricing model development, maintenance, and pricing methodology for Institutional Insurance pricing. Socialize changes with and, where necessary, obtain approvals from key partners including product oversight, investment management, legal, reinsurance, accounting, and treasury. Ensure compliance with Model Governance and Product Pricing and Assumption Oversight processes. Ownership and, for select assumptions (e.g., lapses), shared ownership of Institutional Insurance assumption development, maintenance, and socialization of key business assumptions. Ensure compliance with Experience Studies and Assumptions Governance (ESAG). Solicit & analyze competitive data and industry assumptions. Develop and monitor in-force analytics, providing insights to market leader and for consideration in maintenance of key pricing assumptions. Partner with the Institutional Insurance market leader for new product development, including project ownership as well as product pricing and approvals. Influence and contribute to ongoing business strategy and growth. Develop and maintain strong relationships with key business partners, including product oversight, enterprise risk management, model governance, and assumption governance. Apply a continuous improvement mindset to existing processes, to progress decision making timelines, increase speed of quoting, automate manual processes and evolve our data analytics for the business. The Minimum Qualifications An accomplished ASA or FSA with 10+ years of actuarial experience in pricing, experience studies, or product development. 3+ years of experience with life insurance products. The Ideal Qualifications 3+ years' experience in an actuarial leadership role. Experience in pricing, design, and development of cash value life insurance products, ideally BOLI, COLI or ICOLI products. Demonstrated ability to lead in a fast-paced, evolving environment while managing multiple priorities with strong ownership and urgency. Proven track record of delivering results with high accountability and sound, outcome-focused decision-making. Demonstrates continuous improvement success through decision making timeline or efficiency improvements Commitment to fostering an inclusive, transparent, and collaborative work environment. Strong people leadership experience, with ability to develop, coach, and delegate to build team capability. Effective stakeholder management skills, with demonstrated ability to influence and partner to achieve shared goals. Ability to synthesize complex information and communicate insights clearly to non-technical audiences. Comfort operating in ambiguity and complexity, with experience evaluating trade-offs and driving solutions. Strong analytical, critical thinking, and problem-solving skills with high attention to detail and quality. Strong grasp of actuarial concepts, including the ability to quickly and independently evaluate and model new products. What You Can Expect at MassMutual MassMutual offers the opportunity to do meaningful work within a purpose-driven organization that values long-term impact over short-term outcomes. In this role, you can expect: Clear areas of ownership and accountability, with work that connects directly to company and customer outcomes A collaborative environment where perspectives are welcomed Access to learning, development, and internal networks that support continuous growth and skill-building over time Employee-led communities and forums that foster connection, learning, and inclusion across the organization A culture grounded in integrity, responsibility, and stewardship—supported by a company with a strong legacy and a future-focused mindset #LI-LC1 MassMutual is an equal employment opportunity employer. We welcome all persons to apply. If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need. California residents: For detailed information about your rights under the California Consumer Privacy Act (CCPA), please visit our California Consumer Privacy Act Disclosures (opens in new window) page. MassMutual will accept applications on an ongoing basis until such time as a candidate has been offered employment. The job description includes the main duties of this position, which may evolve over time. You may be required to perform other duties not listed. It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment.

Salary Range:

$185,300-$243,100