At MassMutual, our purpose is to help people secure their future and protect the ones they love. In Corporate Audit, we help achieve this purpose by evaluating the control environment around actuarial and investment business processes. Develop innovative and agile approaches to design, lead, and deliver risk-based audits in investment management, valuation, modeling, pricing, and risk management.
MassMutual Corporate Audit assists the MassMutual Board of Directors Audit Committee and management in monitoring, analyzing, and strengthening internal controls. Corporate Audit consists of 70 professionals across MassMutual businesses at several locations worldwide. Our work supports MassMutuals strategic focus on growing the business, enhancing profitability, and focusing on the customer, with a focus on enhancing effectiveness and efficiency. Auditors evaluate business processes, risks and controls, leading to more effective and reliable internal controls. In collaboration with the Head of Actuarial and Investment Audit, the Actuarial & Investment Audit Consultant will:
Audits actuarial calculations, methods, and assumptions
Evaluates actuarial controls, processes, and governance; evaluates actuarial functions such as valuation, pricing, and management of emerging risks; evaluates consistency with applicable Actuarial Standards of Practice; and partners with other Corporate Audit teams on cross-functional audits.
Inspire others by articulating how your work aligns with MassMutuals purpose and strategy
Champion continuous improvement efforts by driving decisions and execution
Identify and prioritize audits aligned to MassMutuals strategy and top enterprise risks, reflecting input from senior actuaries and governance functions, observations from prior audits, and external perspectives on strategy, actuarial practice, and regulatory developments
Evaluate actuarial methods, assumptions, processes, and controls for reasonableness, compliance with corporate standards, and 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 implement mitigations
Participate in corporate oversight of model governance and experience studies
Serve as a subject matter expert and partner with other audit managers to execute joint audits
The Actuarial & Investments Audit Consultant has sufficient knowledge and credibility to be considered a trusted advisor for many actuarial functions and demonstrates professional courage. Our stakeholders expect audits of controversial topics and areas where MassMutual may not be performing well.
Possess the following leadership competencies:
Communication Recommend Actionable Solutions: Understands and explains business issues and alternative solutions to constituents in a way that results in informed decision making
Include and Influence Engage, Inspire, Motivate: Develops new and better ways of doing things with customers and partners in mind, and is able to inspire others in that approach. Encourages professional growth through internal and external opportunities.
Analytical Problem Solving Astute Analysis: Digs deeper to the root causes of problems and reject superficial explanations. Systematically asks probing questions to uncover new information
Possess the relevant actuarial credential for this role, typically Fellow of the Society of Actuaries and Member of the American Academy of Actuaries.
Broad knowledge of actuarial models, actuarial practices, life & annuity products, professional standards, and regulations. Ability to quickly familiarize with new practice areas and understand business challenges.
Familiar with audit techniques including evaluating risks and controls, testing actuarial calculations, validation of team audit work, and negotiating control improvements and confirming their implementation.
Concurrently lead or oversee multiple complex projects involving many functional stakeholders.
Must be eligible to work in the United States without sponsorship now or in the future.
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