Hybrid Head of Actuarial Expense Strategy

at MassMutual

• Job title: Head of Actuarial Expense Strategy
• Job type: Full Time
• Experience level: Lead
• Salary: $185,300 - $243,100 per year
• Degree requirement: Bachelor's Degree
• Tech skills: Python, SQL
• Location requirements: Hybrid, Springfield, United States

About the role

• Lead Actuarial Expense Strategy team implementing expense-related analysis at MassMutual. Collaborate across teams to provide insights that impact company performance with analytical and leadership skills.

Responsibilities

• Lead a team of ~3 actuaries and financial professionals responsible for delivering key expense analyses and providing management decision support
• Deliver various Unit Expense Factor studies and assumptions used in critical business and regulatory deliverables, including Cash Flow Testing and PBR, dividends, Illustration Regulation Testing and pricing expenses
• Provide subject matter expertise on expense allocations and implications of resulting allocations across products and distribution channels, including regularly monitoring and reporting on gaps between actual and priced for expenses
• Review and propose distribution management allowances for use in product pricing and distribution-based P&Ls
• Develop vision for and execute on efforts to evolve current tools, data pipelines, reporting and processes to modern approaches, driving greater insights and capacity to undertake additional/deferred analysis
• Collaborate across teams to solve complex problems and drive strategic outcomes

Requirements

• Bachelor’s degree in Mathematics, Actuarial Science, Finance, Computer/Data Science, or related quantitative field
• 10+ years of experience as an actuary or senior quantitative professional in insurance, risk, or financial services
• Strong actuarial foundation demonstrated through professional credentialing or sustained application of actuarial methodologies in complex business environments
• Associate or Fellow of the Society of Actuaries (ASA or FSA) strongly preferred
• Member of the Academy of Actuaries a plus
• Deep understanding of insurance products, accounting, and profitability across multiple lines of business and distribution channels
• Highly effective communicator, both written and verbal, comfortable presenting to all levels of the organization as well as technical and non-technical audiences, and skilled in creating simple, powerful, and data-driven communications
• Strategic thinker who can apply strong actuarial and quantitative skillset to analyze a wide range of business problems, draw out insights and implications from complex data sets, and distill key conclusions into a story that drives understanding and action
• Ability to generate impact as a trusted advisor by maintaining the ability to see the big picture in inherently complex and dynamic situations and influence decision-making across senior stakeholders, demonstrating a strong sense for value in both prioritizing and solving problems
• Comfortable with ambiguity and complexity; willingness to explore multiple solutions to a problem; ability to work independently with little direction/oversight while setting direction and priorities for others
• Self-motivated and driven self-starter with demonstrated ownership for driving initiatives from concept through execution
• Able to build and maintain strong working relationships and effectively collaborate across cross-functional groups while leading and developing high-performing actuarial or quantitative professionals
• Demonstrated ability to harness and deploy modern technologies (i.e. Excel, SQL, Alteryx, Python, etc.), including generative AI, to enhance processing, manipulation, validation, and analysis of large amounts of data and drive modernization of tools, data pipelines, and reporting.

Benefits

• competitive salaries
• incentive and bonus opportunities