Job Description

Actuary Reinsurance Development Team within Corporate Actuarial Full-Time Boston, MA or Springfield, MA The Opportunity MassMutual is seeking a well-rounded, motivated financial professional to join the Reinsurance Development team within the broader Corporate Actuarial team. In this function, this individual will cover all aspects of reinsurance across MassMutual and is expected to successfully partner with the various internal and external businesses and partners of the Organization. They will also take the lead on developing additional analytics to better understand our current and projected reinsurance performance. The Team Reinsurance Development operates as a small center of excellence for reinsurance across the company. The team includes a treaty consultant, a reinsurance actuary, a member of actuarial leadership development program (ALDP), and the reinsurance administration team. We manage all of MassMutual’s reinsurance relationships. The team leads and oversees all aspects of reinsurance including developing, negotiating, securing, and administering both traditional and financial reinsurance solutions to support the operational, risk and capital position of the Company. The team also develops and implements strategies to optimize the Company’s existing use of reinsurance while managing and overseeing reinsurance relationships across the organization. We thrive on identifying solutions and executing, but also on effectively managing all our agreements and ensuring appropriate controls and governance around all aspects of reinsurance. The Impact: Provide technical expertise as the modeling lead for the team to produce output for regular reporting and ad-hoc analysis Help manage the use and direction of reinsurance across all lines of business for both inforce and new business balancing historical and expected go-forward profitability, risk appetite and existing exposures, contractual reinsurance obligations/requirements, In this role, the individual will lead work to develop an analytics framework on inforce reinsurance arrangements to assess performance and develop a better understanding of cash flows and economics with each reinsurer that will be regularly presented to management and used to help inform strategy decisions on the inforce reinsurance arrangements In this capacity, the individual will collaborate with members of the team and coordinate with reinsurance administration, valuation and product pricing teams Closely collaborate with Product, Pricing, and Assumption Oversight and Valuation teams to ensure adequacy and appropriateness of assumptions and strategies recommended as part of the reinsurance exercise, Reinsurance Administration team to ensure reinsurance solutions can be practically implemented, and provide guidance or to ensure administration is in compliance with the terms of the agreements Enterprise Risk Management to evaluate and monitor counterparty risk exposure against established thresholds The Reinsurance Development team to complete quarterly reporting and analytics for management to support discussions around reinsurance performance while overseeing routine reporting done by the ALDP member Develop relationships with external reinsurance counterparts, and manage the standard request for proposals and implementation of coverages, such as yearly renewable term pools, while collaborating with Product to analyze the reinsurance proposals and providing recommendations to the Head of Product and Chief Actuary Regularly attend strategy meetings with senior leadership, the Chief Actuary, other departments, and external reinsurance counterparts with opportunities to present and participate in discussions to ensure the use of reinsurance and expertise from the reinsurers is optimally utilized across the organization Attend one reinsurance conference per year to discuss strategy and priorities with external reinsurance counterparts Strategic thinking, clear communication, leadership running initiatives and solid partnership with the business and other departments The Minimum Qualifications Bachelor’s Degree Associate of the Society of Actuaries (ASA) An individual with demonstrated professional financial experience with 5 years of life or health or annuity insurance experience The Ideal Qualifications Fellow of Society of Actuaries (FSA) or equivalent professional credential from a recognized professional actuarial association is a plus but neither is not a requirement 5 years of experience, preferably in the U.S. insurance market Experience in reinsurance across life, health or annuity product lines and capital management 2 years of experience with Moody’s AXIS Self-motivated and independent with strong analytical, strategic & critical thinking, and problem-solving skills; comfortable dealing with both complexity and ambiguity, and able to explore multiple solutions to problems and challenges Effective time management, planning and organization skills Strong interpersonal and communication skills: ability to convey complex issues, explain methodologies and influence resolutions in writing and orally Ability to rapidly respond to changes in direction, tight deadlines and high-pressure situations What to Expect as Part of MassMutual and the Team Regular meetings with the Reinsurance Development Team Focused one-on-one meetings with your manager, the reinsurance actuary Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, Veteran and disability-focused Business Resource Groups Access to learning and development content on Degreed and other informational platforms Your ethics and integrity will be valued by a company with a strong and stable ethical business practices with industry leading pay and benefits LI-ST1 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 page.aa415a4b-8b21-40fc-a65c-70d2b25ca29a

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