Senior Pension Analyst

The MassMutual Financial Group is a global; diversified financial services organization with more than $395 billion in total assets under management. Our family of companies serves the needs of nearly 13 million clients by providing a broad-based portfolio of financial products and services including: investments, annuities, disability income insurance, life insurance, retirement services/401(k) plans, trust services, mutual funds and long-term care insurance.

 

MassMutual Financial Group is committed to providing an inclusive work environment that capitalizes on the talents and contributions of all employees, regardless of age, race, gender, background, religion, disability, national origin, sexual orientation, or personal interests and beliefs.  We understand the importance of a diverse range of talent and ideas, and encourage our employees to share in this understanding.

 

We foster respect for our employees, and provide a culture where each individual has the opportunity to be just that ? an individual.

 

Our impressive array of talented employees enables us to provide exceptional service to our continually expanding, diverse client base.  The strong growth of our business, ongoing development of new products and expansion into new markets is dependent on the inclusive work environment we maintain.

 

The Defined Benefit Participant Administration team provides System Support, Benefit Calculation Services and Quality Control to the Defined Benefit business unit in Retirement Services as well as the Defined Benefit New Business Unit.

 

Quality Assurance Consultant will provide high-level technical actuarial support for the determination of participant payment amounts under defined benefit pension plans, and must be skilled in the interpretation of individual pension plan provisions as well as in the application of pension law and regulations within a myriad of variable situations. Quality Assurance Consultant will be required to develop, maintain and modify methodology used in the calculation of pension benefits using his or her actuarial and programming skills.  In addition, he/she will review and analyze all Plan Amendments and legislative and regulatory changes to determine the impact on the calculation of plan benefits; and will develop appropriate changes to methodology and to departmental systems.  Facility with computer applications, including FORTRAN programming and spreadsheet development, is required. The Quality Assurance Consultant will work closely with the Benefit Analyst and will provide support and training to the Benefit Analyst as necessary during day-to-day operations as well as when changes are made to departmental systems or procedures.

 

Responsibilities for this position include directing a book of business with respect to the determination of benefit amounts payable to defined benefit plan participants and oversight that such determination and the payment of such benefits is done in accordance with federal regulations.  Duties will include certifying the accuracy of benefit determinations processed by others; completing more complex and technical calculations, including QDROs, application of Code Section 415 limits, and deferred retirement calculations; analysis of changes in plan provisions and federal regulations; development, testing and implementation of system parameters and programming to calculate pension amounts; communication with internal and external clients.

 

REQUIREMENTS:

In-depth knowledge of pension laws and regulations

Five + years experience with defined benefit plans is required

Strong math aptitude and knowledge of pension actuarial mathematics

Programming experience or Fortran knowledge is a plus

Knowledge of Microsoft Excel and/or Access

Excellent Analytical Skills

Strong Communication skills

Good attention to detail

Must be able to work independently as well as in a team environment

Ability to multi-task

Bachelor?s degree, preferably in computer science or mathematics

Enrolled Actuary designation desirable but not required

 

This opening currently resides in Springfield, MA, however as organizations and their structures evolve, locations may be reevaluated and position location may change.  We are looking for candidates who have flexibility between MassMutual's two locations:  Springfield, MA, Enfield, CT.

 

If you would like to apply to this position, please click here https://secured.kenexa.com/mmutual/cc/CCJobDetailAction.ss?command=CCViewDetail&job_REQUISITION_NUMBER=52601 and click on the "APPLY" button at the bottom of the page.

 

In addition, if you would like to learn more about MassMutual, please visit www.massmutual.com.

 

MassMutual is an Equal Opportunity Employer

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