We sat down with Micruity’s Senior Implementation Lead, Sean Jost. Sean is responsible for leading retirement income product implementations at Micruity. With many moving parts in a retirement income solution, implementation plays a critical role, and we wanted to share Sean’s perspective for this installment.

Sean Jost
Senior Implementation Lead

 

 

How did you get your start in financial services, were you always interested in this path?

I grew up in a small town in Western Mass, then went to Stonehill College near Boston, where I studied economics and math. After college, I remained in the Boston area and my interests during college helped me with my introduction to the financial services industry, where I worked for the next 10 years.

Tell us about your professional background:

My career began nearly 30 years ago at Eaton Vance, where I established a strong understanding of mutual funds and other related investment products. From there, I transitioned to Hartford Funds, focusing on the DC space and developing a deep understanding of the interactions between recordkeepers and asset management firms. I then moved to MassMutual, where I acquired expertise in Stable Value solutions and the guarantees associated with various products.

These three decades of experience provided me with a solid foundation in the DC space and a comprehensive understanding of how its different elements integrate. This knowledge has been invaluable in my current role at Micruity, where I can leverage my expertise to implement retirement income solutions.

Tell us about your role here at Micruity:

I began working at Micruity over two years ago as a Senior Implementation Lead, collaborating closely with clients to facilitate their retirement income solutions. My role involves coordinating efforts between recordkeepers, asset managers, and insurers, ensuring seamless integration of Micruity’s technology and a comprehensive understanding of roles and responsibilities among all parties. My primary focus is on effective coordination and communication to bridge any gaps in the implementation process.

What is most interesting about the role?

The retirement income space isn’t necessarily new, but it is getting an increased focus due to recent regulatory changes. What I find really interesting is the opportunity to bring a solution to market and work with our partners to drive product design and development. It’s an incredibly collaborative partnership with our clients at Micruity, and all projects are uniquely interesting.

What do you see in the future for Retirement Income?

While retirement income has existed for a while, its components were disconnected, and participants had to rely on themselves to make it work. Stakeholders recognize that insurers and recordkeepers have a technology gap, and they are now focusing on improving usability and the participant experience.

Product manufacturers are working together to solve this issue. As product development progresses and gains momentum, more standards will be implemented, making it easier and less resource-intensive to bring solutions to market.

What do you like to do outside of work?

Family is incredibly important to me. My wife and I have two teenagers: a son who is a senior in high school and a baseball player, and a daughter who is a freshman and also very active in sports. I am a very proud father and feel lucky to be actively involved in their lives, school, and sports activities (and especially excited for my son as he heads off to college next year).