LTC Pricing Actuary

LTC Pricing ActuaryFull-TimeSpringfield, MA or Boston, MAThe OpportunityThis is a mastery level actuarial position within the Health and Worksite Product organization with primary responsibility for the long-term care product line. Responsibilities include product development and pricing of long-term care hybrid products, as well as long-term care riders on our life insurance products. Activities include collaborating across a wide variety of functions, including sales, operations, underwriting, corporate actuarial, marketing, claims and IT.The TeamThe Health and Worksite pricing team is responsible for new individual health and group worksite insurance products, product enhancements, riders, and pricing initiatives within MMUS. This is a dynamic team with expert actuaries representing the existing product lines of Disability Income, Long Term Care, Critical Illness, Accident, and Worksite Life products, plus all new initiatives in the Health and Worksite space. We are responsible for new products, pricing, experience monitoring, and ultimately the profitability of these product lines. Team members are expected to form an opinion, advocate for our policyowners and the company, and drive action.The Impact:Product Design and PricingParticipate in product development ideation and lead the design for new long term care combination products, riders, enhancements, and other initiativesLead the development of pricing assumptions, leveraging senior pricing actuaries and peers as needed for consistency, when possible, over multiple product linesApply actuarial pricing and management models, building or enhancing them as necessary, to support product pricing analysis and designIdentify risks inherent in new and current product design and develop strategies and processes to manage and mitigate such risksPerform sensitivity testing on key assumptions to help quantify risks and mitigationsExtract relevant insights from data and/or models and present complex analysis in simple and straightforward manner to key stakeholdersSecure required pricing approvals from key stakeholders by balancing competitive benchmarks and acceptable levels of expected profit and riskForm opinions, make recommendations, and drive decisions and executionCreate and maintain pricing assumption version controls and final pricing documentationProduct ImplementationResearch 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 objectionsWork with implementation teams on all product initiatives, specifications, and testingAnalyzeexperience studies and develop assumptions for new product development and overall product portfolio risk assessmentComply with Actuarial Standards of Practice, Code of Professional Conduct and company standardsSupport continuous improvement through:Keeping innovation in the forefrontImproving processes and practicesProviding fresh perspectives, breakthrough ideas, and new paradigms to create valueAdvocating for change, improvement, and optimal value added across the organizationAsking questions and challenging the status quoTaking ownership and personal responsibilitySupport other Health and Worksite pricing and product development initiatives as neededThe Minimum QualificationsBachelor’s degree in actuarial science, math, statistics, or related disciplineASA designation5+ years relevant actuarial experienceQualified 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 modelsThe Ideal QualificationsFSA and MAAA designationsExperience with long term care insuranceExperience with state product filing, rate filings, and objection responsesExperience with GGY AXISStrong interpersonal and communication skills, both written and verbalDemonstrated ability to interact with technical and non-technical audiences at all levels, within and across organizational boundariesAbility to use a disciplined work approach to initiatives, projects, and day-to-day activitiesWhat to Expect as Part of MassMutual and the TeamRegular meetings with the Health and Worksite Product TeamFocused one-on-one meetings with your managerNetworking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, Veteran and disability-focused Business Resource GroupsAccess to learning content on Degreed and other informational platformsYour ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits#LI-ST1Salary Range:$141,300.00-$185,400.00At MassMutual, we focus on ensuring fair equitable pay, by providing competitive salaries, along with incentive and bonus opportunities for all employees.Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.Why Join Us.We’ve been around since 1851. During our history, we’ve learned a few things about making sure our customers are our top priority. In order to meet and exceed their expectations, we must have the best people providing the best thinking, products and services. To accomplish this, we celebrate an inclusive, vibrant and diverse culture that encourages growth, openness and opportunities for everyone. A career with MassMutual means you will be part of a strong, stable and ethical business with industry leading pay and benefits. And your voice will always be heard.We help people secure their future and protect the ones they love. As a company owned by our policyowners, we are defined by mutuality and our vision to put customers first. It’s more than our company structure – it’s our way of life. We are a company of people protecting people. Our company exists because people are willing to share risk and resources, and rely on each other when it counts. At MassMutual, we Live Mutual.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, pleasecontact usand share the specifics of the assistance you need.At MassMutual, we focus on ensuring fair, equitable pay by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.For more information about our extensive benefits offerings please check out our Total Rewards at a Glance. #J-18808-Ljbffr

Created: 2025-09-17