Head of Fixed & Income Annuity Pricing

Company: MassMutual
Location: Springfield
Posted on: May 14, 2025

Job Description:

Head of Fixed & Income Annuity Pricing at MassMutual summary:
The Head of Fixed and Income Annuity Pricing manages a $15B annuity business, collaborating with stakeholders in sales and risk management. This strategic role involves leading a pricing team, overseeing rate setting for fixed and income products, and ensuring competitiveness and profitability. Additionally, the position requires a deep understanding of the retail annuity market and involves innovative problem-solving and communication with senior management.
The OpportunityAs the Head of Fixed and Income Annuity Pricing you will manage a $15B annuity business for a top 5 carrier in the retail annuity market. You will work in a collaborative environment partnering with a diverse group of stakeholders representing both the sales and risk management sides of the business. This is a highly visible and strategic role with pricing responsibility for our fixed and income annuities.The TeamThe annuity pricing team is a motivated group focused on maintaining our position as a market leader in the annuity space. In this role you will interact mainly with the Annuity product team, distribution (Career Agency and third party), and corporate oversight teams to help us balance competitiveness and profitability.The Impact:

• Lead a team of 4 with responsibility for the pricing of new and existing fixed and income products
• Oversee rate setting and rate implementation process for spot priced products balancing competitive positioning and profitability in accordance with our desired position in the market
• Partner with Investment Management and the ALM team to ensure business is appropriately hedged
• Go beyond technical analysis to orchestrate innovative and creative solutions that reflect current market trends while meeting our business objectives
• Take ownership in setting pricing assumptions and performing pricing analysis
• Lead pricing review and approval process with both Corporate Actuarial and Product
• Influence and provide key contributions to ongoing business strategy and growthThe Minimum Qualifications
  • Bachelor's degree in actuarial science, math, statistics, or related discipline
  • Fellow of the Society of Actuaries
  • Experience with actuarial software such as Prophet, AXIS, or Alpha
  • 10+ years experience in actuarial roles
  • 3+ years of experience with pricing OR fixed & income products
  • Deep understanding of the retail annuity marketplace and competitive landscape
  • Experience leading, developing, and coaching a diverse team
  • Ability to manage multiple concurrent deadlines and discern the appropriate level of precision for urgent tasks
  • Ability to influence others and drive engagement
  • Strong written and verbal communication including presenting results to senior management in Distribution, Product, and Corporate Oversight
  • Ability to partner effectively with distribution leadershipThe Ideal Qualifications
    • ALM or annuity pricing, valuation, and/or modeling experience is preferred
    • Experience in Prophet
    • 12+ years experience in actuarial roles
    • 3+ years of experience with pricing AND fixed & income products
    • Demonstrated success dealing with both complexity and ambiguity, with ability to explore multiple solutions to a problem
    • Ability to analyze and comprehend complex information, as well as convey complex materials to non-technical audiences
    • Demonstrated approach to execute strategic initiatives, business projects and day-to-day activities simultaneously.#LI-IZ1MassMutual 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.
      
      Keywords:
      annuity pricing, actuarial leadership, fixed income products, financial management, pricing strategy, insurance market, stakeholder collaboration, competitive analysis, portfolio management, risk assessment
      

Keywords: MassMutual, Milford , Head of Fixed & Income Annuity Pricing, Other , Springfield, Connecticut