This job has closed.

MassMutual · 2 months ago

LTC Pricing Actuary

BOSTON, MA

Full-time

Onsite

Senior Level

5+ years exp

MassMutual is a leading insurance company, and they are seeking a mastery level LTC Pricing Actuary. The role involves product development and pricing for long-term care products, collaborating across various functions to ensure profitability and compliance with regulations.

FinanceFinancial ServicesInsuranceLife InsuranceRetirement

H1B Sponsor Likely

Responsibilities

Participate in product development ideation and lead the design for new long term care combination products, riders, enhancements, and other initiatives

Lead the development of pricing assumptions, leveraging senior pricing actuaries and peers as needed for consistency, when possible, over multiple product lines

Apply actuarial pricing and management models, building or enhancing them as necessary, to support product pricing analysis and design

Identify risks inherent in new and current product design and develop strategies and processes to manage and mitigate such risks

Perform sensitivity testing on key assumptions to help quantify risks and mitigations

Extract relevant insights from data and/or models and present complex analysis in simple and straightforward manner to key stakeholders

Secure required pricing approvals from key stakeholders by balancing competitive benchmarks and acceptable levels of expected profit and risk

Form opinions, make recommendations, and drive decisions and execution

Create and maintain pricing assumption version controls and final pricing documentation

Research state/federal regulations that govern health insurance and ensure products and rates adhere

Develop the Actuarial Memorandums and Rate Manuals for product filings and respond to all actuarial objections

Work with implementation teams on all product initiatives, specifications, and testing

Analyze experience studies and develop assumptions for new product development and overall product portfolio risk assessment

Comply with Actuarial Standards of Practice, Code of Professional Conduct and company standards

Support continuous improvement through:

Keeping innovation in the forefront

Improving processes and practices

Providing fresh perspectives, breakthrough ideas, and new paradigms to create value

Advocating for change, improvement, and optimal value added across the organization

Asking questions and challenging the status quo

Taking ownership and personal responsibility

Support other Health and Worksite pricing and product development initiatives as needed

Qualification

Actuarial ScienceASA DesignationActuarial SoftwareFSA DesignationLong Term Care InsuranceGGY AXISDisciplined Work ApproachInterpersonal SkillsCommunication Skills

Required

Bachelor's degree in actuarial science, math, statistics, or related discipline

ASA designation

5+ years relevant actuarial experience

Qualified to sign statements of actuarial opinion for disability income, long term care, chronic illness or accident products

Experience with actuarial software and modeling, demonstrating the ability to build, validate, enhance, and maintain pricing models

Preferred

FSA and MAAA designations

Experience with long term care insurance

Experience with state product filing, rate filings, and objection responses

Experience with GGY AXIS

Strong interpersonal and communication skills, both written and verbal

Demonstrated ability to interact with technical and non-technical audiences at all levels, within and across organizational boundaries

Ability to use a disciplined work approach to initiatives, projects, and day-to-day activities

Benefits

Access to learning content on Degreed and other informational platforms

Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, Veteran and disability-focused Business Resource Groups

Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits

Company

MassMutual

Glassdoor3.9

MassMutual is a mutual life insurance company that provides investment management and trust services.

Founded in 1851

Springfield, Massachusetts, USA

5001-10000 employees

https://www.massmutual.com/

H1B Sponsorship

MassMutual has a track record of offering H1B sponsorships. Please note that this does not guarantee sponsorship for this specific role. Below presents additional info for your reference. (Data Powered by US Department of Labor)

Distribution of Different Job Fields Receiving Sponsorship

Represents job field similar to this job

Trends of Total Sponsorships

2025 (96)

2024 (94)

2023 (66)

2022 (115)

2021 (121)

2020 (73)