Head of Long Term Care Valuation (Columbia)

Actuarialcrossing in Columbia, KY

  • Industry: Financial Services - Banking/Investment/Finance - Financial Analyst/Examiner
  • Type: Full Time
  • $90,290.00 - 166,400.00
position filled


Head of Long Term Care Valuation

Job #108#######
We are looking for a Head of Long Term Care Valuation
in the Corporate Finance-Valuation & Modeling (V&M) department.
Corporate Finance's vision - as a trusted partner, we maximize our potential to deliver policyowner value through financially-based solutions and guidance.
The Long Term Care Team performs V&M functions for long term care products. This team is responsible for approximately $1 billion of reserves.
What great looks like in this role
The selected incumbent for this role is a detail-oriented person who values collaboration and holds themselves and their team accountable for a quality work product.
In this role, you will help shape the vision, planning, execution, and culture of CFO's Valuation & Modeling area. Your work will directly influence MassMutual's financial position and more specifically, give business leaders insights into our solvency and capital requirements backing policyholder liabilities.
Objectives of this role:
Culture and Engagement:
Contribute to continuous improvement and innovative culture
Exhibit curiosity and pursue learning opportunities. Take ownership of professional development (Development)
Drive collaborative solutions and results by seeking and valuing diverse backgrounds, experiences and perspectives (Inclusion)
Manage priorities effectively and adapt quickly to achieve goals. (Agility)
Earn confidence and trust by demonstrating ownership, commitment, and follow-through in achieving results. (Accountability)
Collaborate with to other team as needed to help with load-balancing of work priorities
Give employees opportunities to learn and grow; and help them identify the right developmental actions to help them improve. Grant others the authority to make decisions and take independent action (Leading Others)
Create an environment where the team is inspired, engaged and motivated. (Leading Others)
Cross boundaries to build partnerships and share resources. Work with team to establish a clear mission and goals (Leading Others)
Reporting and Analysis:
Analyze results/provide insights
Oversee monthly preparation, analysis and reporting of direct and ceded reserves and DAC
Oversee preparation of the annual reserve adequacy testing including analysis and communication of results
Ensure use of the valuation governance framework for monthly responsibilities, model development, testing and management
Work to continually improve model processes and streamline work processes
Trusted Business Partner:
Collaborate effectively and provide solutions for business partners
Provide forecasting advice
Prepare and communicate financial information for various customers (e.g. Financial Planning & Analysis (FP&A), Investment Management, Tax) and understand the ways assumption / data changes affect results
Oversee report and information distribution, and understand the ways assumption / data changes affect results
Provide valuation advice to product pricing / repricing and reinsurance / capital transactions
Actively participate in experience studies/assumption governance framework
Valuation Methodology:
Interpret, develop and implement valuation methodology
Perform or lead others through analysis and implementation of valuation issues, providing recommendations for action, financial impact
Perform or lead others to monitor/influence/implement relevant emerging valuation regulation, determine an appropriate action and inform and influence others, participating on industry committees as relevant
Actuarial Systems Management:
Analyze current data and processes to explore new innovative approaches to optimize them and allow our staff more time to analyze results and provide insights to business leaders
Oversee a project to improve the efficiency and effectiveness of V&M's reporting and visualization
Serve as V&M representative in various working groups across the organization involved with development, analysis and enhancement of any data and modeling related projects
Steward the evaluation and communication of the systems/data/modeling impacts stemming from key strategic projects and management actions
Manage/lead/coach the team through various data and modeling initiatives by providing strategic direction and resource, project management
Bachelor's Degree or higher
Fellow or Associate 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 with long term care product underwriting, pricing and valuation in an insurance setting.
Demonstrated financial statement knowledge
Proven leadership and talent development experience
Adept at engaging and inspiring others
Continuous improvement mindset
Strong working knowledge of valuation techniques
Strong working knowledge of US insurance products and pricing
Strong communication skills, both written and verbal
Strong project management skills
Ability to build and maintain strong working relationships across cross-functional groups
Bachelor's Degree or higher with a background in one or more of the following: mathematics, statistics, computer science, data science
Chartered Enterprise Risk Analyst (CERA)
Advanced knowledge of long term care valuation techniques, ASOPS, and regulations Demonstrated knowledge of valuation regulation and methodology
Demonstrated modeling capabilities, preferably in Axis software

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Description:Opportunities exist for experienced levelu00a0P&C Actuarialu00a0Students in a variety of our P&Cu00a0business areas. Our actuarial community has over 100 students all working toward becoming credentialed actuaries...

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Associated topics: analyst, analyze, business, business finance, inspect, investment analyst, investment fund, law, refinement, valuation analyst

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