The Opportunity
As a Life Pricing Lead, you will work on the development and pricing of our Whole Life, Term, UL, VUL, and LTC combination products. You will work in a collaborative environment and partner with several different stakeholders including distribution and corporate finance. This is a highly visible and influential role working with the core suite of Life products at a leading mutual life insurance company.
The Team
As part of the Brand, Product, and Affiliated Distribution organization and the Life Product Development team, the Life Pricing team is a motivated group of actuaries and quantitative consultants who develop innovative products and pricing methodologies across a broad suite of Life products. We help ensure the continued growth of our core whole life franchise while diversifying our offerings to provide solutions to more customers. We collaborate with key partners across the organization to ensure our product suite is competitive and aligned to meet the needs of our customers, while delivering value to MassMutual.
The Impact
• Lead the pricing of new and existing Life insurance products
• Assist in prototyping activities around the evaluation of new product features
• Collaborate with distribution, reinsurance, risk management, and corporate actuarial to price products within our risk tolerance while balancing competitiveness and profitability
• Ownership of the pricing and profitability models utilized by the Life Product team
• Influence and provide key contributions to ongoing business strategy and growth
• Lead the pricing review and approval process with both the corporate actuarial and product teams
• Lead other ad hoc strategic actuarial projects for our Life product portfolio as needed
The Minimum Qualifications
• An accomplished FSA
• Member in good standing of the American Academy of Actuaries
• Experience with developing and maintaining actuarial models, either in actuarial software or bespoke models (i.e. Axis, Prophet, Python, R, VBA)
• 10+ years of experience in actuarial roles
• Disciplined approach to strategic initiatives, business projects, and day-to-day activities
• Demonstrated ability to effectively manage and deliver on multiple concurrent deliverables
• Ability to lead and influence others and drive engagement on large projects with multiple functional areas
The Ideal Qualifications
• 5+ years of experience in Retail Life pricing and product development
• Knowledgeable in relevant products and services, investments, financials, laws and regulations, industry standards and the competitive environment
• Demonstrated success dealing with both complexity and ambiguity, with ability to explore multiple solutions to a problem
• Ability to analyze and comprehend complex information, as well as convey complex materials to non-technical audiences
• Demonstrated ability to execute strategic initiatives, business projects, and day-to-day activities simultaneously.
• Experience with programming languages and models that are built in programming languages
• Demonstrated high potential to take on greater responsibilities
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