Head of Life Valuation Reporting

The Opportunity
The Head of Life Valuation Reporting is an exciting opportunity to lead a team of actuaries and quantitative analysts responsible for the actuarial valuation reporting and strategic initiatives including reserve attribution, source of earnings and other management reporting, for all of MassMutual's Life insurance products. Reporting to the Head of Life and Health Valuation and in collaboration with the Life Valuation Modeling team, this leadership role within the Corporate Actuarial department will lead the team to deliver accurate and timely financial information that is actionable and forward-thinking. This leader will also be responsible for the success of critical projects such as reserve attribution analysis, actuarial assumption review and implementation, as well as emerging regulation changes monitoring and implementation. The role requires valuation knowledge, expertise in life insurance products, and strong leadership capabilities.
What Great Looks Like
A successful candidate in this role shows strong leadership, technical expertise and communication skills. This leader enables the team to collaborate with stakeholders to deliver accurate, timely and reliable actuarial valuation results under US Statutory, GAAP and Tax requirements. The individual brings highly effective team and change management abilities, advanced knowledge of life insurance products and valuation regulations, as well as exceptional execution capabilities. In addition, this individual actively manages the team to be high functioning and is involved in developing talent pipeline within the Corporate Actuarial department at MassMutual.
The Key Objectives and Impact
A. Valuation Reporting and Analysis:

• Oversee monthly/quarterly preparation, analysis and reporting of US Stat/GAAP/Tax reserves and other actuarial items.
• Ensure effective application of valuation governance framework for monthly/quarterly responsibilities, including process efficiency, control effectiveness, new product implementation, actuarial assumption/model change management, etc.
• Ensure accurate and timely delivery of annual actuarial exhibit filings, as well as ad-hoc regulatory inquiries on valuation matters.
• Lead the design and implementation of reserve analysis such as reserve rollforward, trend analysis, and deliver a robust process to provide business insights to management and stakeholders.

B. Valuation Methodology, Data and Process Management:

• Lead the team on analysis and implementation of valuation assumption and methodology changes, provide financial impact analysis and recommendations for action.
• Monitor and implement emerging valuation regulation changes, determine appropriate actions, inform and influence others, and participate on industry committees as relevant.
• Lead the team to continue to improve valuation data management and production processes, serve a variety of valuation data uses across the organization.
• Provide thought leadership and drive solutions on Life insurance product related matters by navigating potential complexity, ambiguity, and limitations from a variety of sources.

C. Trusted Business Partner:

• Serve as the Life Valuation leader on experience review and assumption settings working groups for all of Life products.
• Act as the Life valuation leader on various actuarial and reserving topics to internal and external customers, e.g., Controllership, Audit, ERM, Tax, etc.
• Represent Life valuation team on new product initiative, pricing/repricing, reinsurance, and capital initiatives.
• Be the point person in Life Valuation to support on-going administration system conversions.

D. Leadership, Culture and Engagement:

• Maximize team effectiveness by driving a compelling vision & strategy, managing priorities effectively and adapting quickly to achieve goals.
• Drive collaborative solutions by engaging in courageous conversations, seeking and valuing diverse backgrounds, experiences and perspectives.
• Give employees opportunities to learn and grow; and help them identify the right developmental actions to help them improve.
• Earn confidence and trust by demonstrating ownership, commitment, and follow-through in achieving results.
• Exhibit passion, curiosity and pursue learning opportunities. Takes ownership of professional development of self and team.

The Minimum Qualifications

• Bachelor's Degree or higher
• Fellow of the Society of Actuaries and Member of the American Academy of Actuaries, and "Compliant" with regards to SOA CPD Attestation Status
• Minimum of 10 years' actuarial experience in valuation and reporting, and/or in life insurance pricing, assumptions development, risk management
• Demonstrated financial statement knowledge of US Statutory and GAAP accounting
• Experience with managing a team of actuarial professionals
• Proven change management skills and continuous improvement mindset
• Exceptional communication skills, both written and verbal
• Ability to build and maintain strong working relationships across different functional groups

The Ideal Qualifications

• Expert-level technical knowledge of insurance product valuation and demonstrated ability to balance theory and practice
• Deep knowledge of valuation techniques and methodologies across a variety of regulatory regimes, including US Principles Based Reserves and GAAP LDTI
• Experience with Asset Adequacy Analysis or similar actuarial projection exercises
• Meets specific qualification standards for US NAIC Life statements of actuarial opinion

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.
Salary Range: $180,700.00-$237,100.00