Head of Pension Risk Transfer Business Development

The Opportunity

As the Head of PRT Business Development you will work in a fast paced, innovative, and collaborative environment driving the growth for the PRT business, partnering with other aspects of the PRT business to incorporate new clients, leading the team responsible for evaluating, pricing and securing new PRT opportunities - contributing to the growth of a core business within Institutional Solutions. 

The Team

The PRT team is a motivated group focused on innovating our pricing methodologies, ability to price and administer complex plans, and offering a smooth annuitant experience to our over 500k annuitants. In this role you will lead the PRT Business Development team which is an agile group focused on winning new business in the large market, growing our product offerings, and expanding our capabilities within the PRT market. You will partner with our PRT operations team, other Institutional Businesses, and actuarial and finance partners across the organization to drive forward key strategic initiatives to support to broader MassMutual strategy. 

The Impact

•    Leading the team responsible for the pursuit and pricing of new PRT opportunities – composed of direct and indirect reporting
•    Represent MassMutual publicly through client meetings, conferences, and other industry events to grow the awareness of MassMutual’s PRT presence and capabilities
•    Ownership of the PRT pipeline and underwriting criteria that determines transactions MassMutual will participate in – driving forward the strategy of the MassMutual PRT Business
•    Pricing of Pension Risk Transfer opportunities
•    Partner with the PRT Operations team on installation of new PRT contracts
•    Develop and maintain relationship with consultants and reinsurers
•    Partner with Pricing, Product, and Corporate teams on approvals, assumptions, pricing processes, and exceptions
•    Influence and provide key contributions to ongoing business strategy and growth

The Minimum Qualifications

•    An accomplished FSA, ASA, or EA with 6+ years experience in pricing or equivalent role
•    Experience in pension/retirement, pension risk-transfer, or equivalent insurance business(es)
•    8+ years experience in actuarial roles
•    Disciplined approach to strategic initiatives, business projects and day-to-day activities
•    Demonstrated ability to effectively manage and deliver on multiple concurrent deliverables.
•    Ability to lead and influence others and drive engagement

The Ideal Qualifications

•    3+ years in pension risk transfer business with experience engaging with intermediaries and clients
•    12+ years experience in actuarial roles; 6+ years experience in pricing or equivalent role
•    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.

What to Expect as Part of MassMutual and the Team

•    Regular meetings with the PRT Leadership Team
•    Focused one-on-one meetings with your manager
•    Access to mentorship opportunities 
•    Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, 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

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