MassMutual • Boston, MA 02133
Job #2700578232
Actuary, Internal Audit
Actuarial and Investments Audit Team
Full-time
Springfield, MA or Boston, MA
The Opportunity
As an Actuary, Internal Audit, you will provide crucial assistance during internal audit activities, helping to complete specific tasks within the overall scope of the audit project. You will have the opportunity to function as an operational risk and control expert, providing advice/mentoring to audit associates and business area management while advocating compliance with standards for audit, actuarial, risk, financial and investments standards and best practices.
The Team
Corporate Audit consists of approximately 50 professionals across MassMutual businesses at several locations worldwide. Our work directly contributes to supporting MassMutual's strategic focus on growing the business, enhancing profitability, and focusing on the customer. Internal Auditors evaluate business processes, risks, and controls, providing guidance towards more effective, efficient, and reliable internal controls.
The Impact
As a member of the Actuarial & Investments (A&I) Audit team you will report directly to the Head of Actuarial & Investments Audit, and you will work collaboratively across the team. As an A&I auditor you will have sufficient knowledge and credibility to be considered a trusted advisor and demonstrate professional courage. Our stakeholders expect audits of controversial topics and areas where MassMutual may not be performing well. The impact you will have on the organization at large will come from evaluating company practices, processes, controls, governance, and risk management.
Responsibilities for the Actuary, Internal Auditor will include, but are not limited to the following:
Audit valuation, pricing, product development, financial planning & analysis, investments, asset-liability management, hedging, and risk management
Validate actuarial, investment, risk, and financial areas for consistency with internal and external standards and best practices
Partner with other Corporate Audit teams on cross-functional audits
Inspire others by articulating how our work aligns with MassMutual's purpose and strategy
Advocate continuous improvement efforts by driving decisions and execution
Evaluate methods, assumptions, processes, and controls for reasonableness, compliance, and consistency with internal and external standards, including actuarial standards of practice
Attract talent, develop the team, and coach the team to deliver valuable audit work covering all actuarial functions and meeting professional audit standards
Influence and collaborate with business partners to improve controls and governance
Recommend and negotiate appropriate business solutions to manage identified and emerging risks
Involved in activities such as preparation of detailed programs for actuarial and investment audits, review of complex calculations and processes, and assessment of procedures to determine efficiency, effectiveness, and compliance with policies and standards
Serve as the subject matter expert, provide advice, coach, and facilitate training of new auditors
The Minimum Qualifications
Bachelor's Degree in actuarial science, mathematics, statistics, or related discipline
ASA or FSA (or equivalent) and MAAA designations
5+ years of progressive actuarial or audit experience
The Ideal Qualifications
8+ years of relevant actuarial experience
Demonstrated versatility in communicating up, down, and across the organization by working with others and demonstrated ability to steer discussions with various levels of leadership across the enterprise
Experience concurrently leading complex projects involving many functional stakeholders
Demonstrated broad knowledge of insurance concepts, investments, risk management, financial reporting and analysis, pricing / product development, valuation, ALM, and hedging
Works self-sufficiently, enthusiastically engaging clients and peers to complete value-added assignments within the defined project scope and timelines
Ability to quickly familiarize with new practice areas and understand business challenges
Experience performing audit techniques including evaluating risks and controls, testing calculations, validation of team audit work, and negotiating control improvements and confirming their implementation
Broad knowledge of life, annuity, DI, and LTC products
Demonstrates a strong understanding of risk concepts including inherent and residual risks as well as how to assess the design and effectiveness of internal controls
Experience with any actuarial projection software such as GGY AXIS or Prophet
Familiarity with general programing languages and visualization tools such as R, Python, SQL, Alation, MicroStrategy, and Tableau
What to Expect as Part of MassMutual and the Team
Regular meetings with the Actuarial & Investments Audit Team
Focused one-on.-one meetings with your manager
Access to mentorship opportunities
Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQIA+, Veteran and disability-focused Business Resource Groups
Access to learning content on Degreed and other informational platforms
Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits
#LI-CM1
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, please contact us and share the specifics of the assistance you need.
Salary Range: $137,800.00-$180,800.00
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