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MassMutual · 4 days ago

Head of Liability ALM Strategy

Hartford, CT

Full-time

Onsite

Director/Executive

15+ years exp

MassMutual is seeking a motivated leader as Head of Liability ALM Strategy, a key role within the company's Asset Liability Management framework. This position is responsible for developing and executing ALM strategies for insurance products, focusing on liability risks and collaborating with various stakeholders to enhance ALM methodologies and analytics.

FinanceFinancial ServicesInsuranceLife InsuranceRetirement

Responsibilities

In collaboration with IM and ERM, evaluate the on-going fit and adequacy of existing ALM strategies as the environment changes and make strategy, budget and other related recommendations, as applicable, while taking into account costs, risks and benefits of alternatives

In collaboration with IM and ERM, evaluate existing ALM modeling and applicable metrics & measures to improve existing processes and/or make suggested changes

Critically and logically build financial and/or non-financial analytical models that drive fact-based decision-making to support ALM decisions made by the leadership team

Participate as member of the Capital Market Assumptions Group accountable for the review, update, management and monitoring processes and policies for recommending asset assumptions used in valuation, pricing and financial projections

Provide thought leadership, technical expertise, and value-added support & guidance related to ALM

Support enforcement of corporate guidelines and governance processes with respect to asset assumptions including sufficiency of documentation to meet CFT/VM-30, PBR/VM-31, VM-G, applicable SOPs and any other regulatory requirements

Closely collaborate with the Product Pricing Oversight and Reinsurance Strategy & Management teams to ensure adequacy and appropriateness of investment assumptions and ALM strategies recommended as part of pricing exercises/financial reinsurance transactions

Stay abreast of emerging regulations as they impact applicable aspects of ALM, hedging, economic assumptions and related actuarial work

Team leadership, clear communication and solid partnership with the business and other departments

In concert with IM and ERM, implement effective model governance, standards, testing procedures, and controls in the development, manufacturing, and delivery of ALM related models and projections

Leverage expertise and industry insights in providing recommendations and driving decisions and actions to ensure delivery of leading-edge solutions

Have a proven track record for attracting, developing, and retaining strong talent

Qualification

Fellow of the Society of ActuariesActuarial experience in ALMActuarial modeling expertiseFinancial modeling methodologiesActuarial projections softwareAnalytical skillsRelationship managementCommunication skillsProblem-solving skills

Required

Bachelor's Degree or higher

Fellow of the Society of Actuaries (FSA)

Minimum of 15 years of actuarial experience in ALM, hedging, capital management, actuarial/asset modeling, pricing, valuation/CFT, and/or in financial risk management

Strong knowledge of US life insurance, annuity, and health products and the underlying actuarial and risk management concepts and practices; experience with quantifying, analyzing and managing a range of product risks

Working knowledge and analysis of financial statements (Income Statements, Balance Sheet, Cash Flow Analysis) under different accounting frameworks

Expertise in actuarial & financial modeling methodologies and techniques; Experience with actuarial projections software (Moody's AXIS, Prophet, etc.)

Self-motivated and independent with strong analytical, critical thinking, and problem-solving skills; comfortable dealing with both complexity and ambiguity, and able to explore multiple solutions to problems and challenges

Strong communication skills, both written and verbal, with experience in presenting to senior management; Able to convey complex materials to senior executives

Ability to build and maintain strong working relationships across cross-functional groups

Demonstrable experience with creative problem-solving and thought leadership

Ability to work well under pressure and manage multiple deliverables