Mutual Opportunities
Quantitative Risk Developer
New York, New York; Boston, Massachusetts
Thank you to our employees for voting us one of the top places to work in Massachusetts for five consecutive years!
Overview
A career with us means you’ll work alongside exceptional people and be empowered to reach your professional and personal goals. Our employees are at the foundation of what enables MassMutual to deliver on our purpose to help people secure their futures and protect the ones they love.
We embrace the idea that we all are stronger and better through our support for one another. We strive to create a culture where employees feel valued and are celebrated for who they are.
“Since our founding in 1851, mutuality has put our policyowners at the center of everything we do. At our core, we’re a company of people helping people in their time of need, and that spirit extends to the culture we’ve built at our company. Our employees support and rely on each other each day, collaborating to deliver the best solutions for our customers and help millions more secure their future and protect the ones they love.”
Job Description
The Opportunity
This is an exciting opportunity for a highly motivated and collaborative risk professional with strong quantitative and development expertise to join the Credit Risk Management team within the Capital and Investment Risk Management team and the broader Enterprise Risk Management division.
As a quantitative risk developer within the Capital & Investment Risk Management team, you will be responsible for leading quantitative model implementation, development, and analysis. The ideal candidate will join a quant team to enhance Enterprise Risk Management (ERM)’s analytical and reporting capabilities, by expanding the use of existing models as well as designing and developing new tools and risk frameworks.
You will work with capital, credit, market and portfolio risk teams, and ERM more broadly. This is an excellent opportunity to collaborate with risk, investment and finance, and enterprise technology (including data science) teams.
The Team
The Capital & Investment Risk team brings together a diverse team of experts across capital markets, risk management, actuarial, and quantitative disciplines that works together to deliver analysis and recommendations related to the management of credit, market, liquidity and capital risk, consistent with the enterprise risk appetite framework for which the team is also responsible.
The team continues to be successful in driving improvements in tools, technology and processes, for more consistent risk analysis and reporting, and enabling greater opportunities for scale and efficiency within ERM and with stakeholders in Investment Management and Finance.
The Impact
In this role, you will play a critical part in ensuring company’s credit risks are effectively identified, measured and mitigated, by bringing your deep analytical expertise and strong understanding of credit risk/ investment risk modeling, data and infrastructure.
Your work will help shape robust, data-driven decision-making across risk and investment areas and influence MassMutual’s evolving business strategy and operating environment.
You will partner with your peers in driving improvements in tools, technology and processes, for more consistent risk analysis and reporting, and enabling greater opportunities for scale and efficiency within ERM and with stakeholders in Investment Management and Finance.
There is a strong emphasis on innovation, with growing opportunity to apply AI-driven techniques and scalable data solutions to drive more forward-looking, efficient risk analytics that embrace emerging technologies.
The key to success in this role is a sharp analytical mindset, the ability to translate complex risk metrics into actionable insights, and a strong partnership approach with stakeholders across risk, investment management, finance, and technology.
Notable responsibilities include:
Implement, develop and enhance ERM’s analytical capabilities related to credit/market risk across a wide range of fixed income asset classes
Building on MassMutual’s current approach, assist in developing and syndicating a comprehensive framework for measuring portfolio credit & market risk, that considers different accounting and capital regimes, including asset and liability impacts, with a particular emphasis on economic capital
Automate and expand the use of Moody’s credit risk tools in place today and build risk- reward framework
Use of Python/ SQL. Also, use of spreadsheets and VBA to prototype and analyze data including data investigation/cleanup
Strengthen ERM’s use and development of tools and analytics to support derivatives counterparty risk, portfolio concentration risk & stress testing capabilities
Mentor junior quantitative analysts
Scope and implement modeling, including building out requirements where not yet fully defined or understood.
The right candidate will be agile, accountable and resilient in driving initiatives and the results
The Minimum Qualifications
Minimum 8 years of relevant work experience with 5 years in investment (credit/market) quantitative risk analytics OR 5 years of relevant work experience in investment (credit/ market) quantitative risk analytics combined with graduate studies
5+ years of experience with expertise in Python, SQL and development skills in object-oriented programing
5+ years of experience with strong quantitative model development & implementation skills and ability to validate/understand and explain analytical results
5+ years of experience in quantitative risk modeling across a wide range of asset classes
A degree in quantitative discipline
3+ years of experience with ability to engage with operational work in production environment with IT developers/solution architects in maintaining infrastructure
5+ years of experience with quantitative and programming skills in a hands-on setting to deliver new functionality
The Ideal Qualifications
7+ years of relevant work experience in investment (credit/market) quantitative risk analytics is desirable
Advanced degree in Computer Science, Financial Engineering, Mathematics, Physics, Engineering or similar quantitative discipline is preferred
Knowledge and experience working with derivatives and hedging risk management
Experience in using Moody’s Analytics credit risk tools is desirable.
Experience in CECL compliant portfolio credit models
Experience applying machine learning techniques in the financial industry is desirable
Software development using GitHub and Docker, adhering to enterprise standards and best practices ensuring models are validated and governed
Previous experience working on liability-driven investing projects within an insurance company is desirable
What to Expect as Part of MassMutual and the Team
Regular meetings with the Quantitative teams within ERM, Investment management & ETX project teams
Focused one-on-one meetings with your manager
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 string and stable ethical business with industry leading pay and benefits
#LI-ST1
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
MassMutual will accept applications on an ongoing basis until such time as a candidate has been offered employment. The job description includes the main duties of this position, which may evolve over time. You may be required to perform other duties not listed.
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment.
Salary Range: $128,000.00-$168,000.00
Hiring Process
Explore
Explore our open jobs by clicking 'search jobs' to find a position that aligns with your experience and skills. You may also consider joining our Talent Network.
Apply
Click the “apply” button on that job posting to complete and submit your application. Your application will be reviewed by a recruiter, which, due to the volume of applications received, may take some time as we carefully consider each application.
Screen
After your application has been reviewed, if you meet the qualifications for the role, a recruiter will reach out to you to start a conversation.
Interview
If you are invited for an interview, you will be scheduled to meet with the hiring manager and hiring team.
Offer
If you are extended an offer to join MassMutual and accept, your start will be contingent upon a satisfactory background check.
Hire
If you accept the offer, we will be so excited to welcome you to the MassMutual community!
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
By the numbers*
- 88% of employee respondents say they are proud to work at MassMutual
-
90
% of employee respondents say they feel encouraged to bring forth new ideas - 86% of employee respondents say MassMutual cares about and supports the well-being of their employees
*Source: 2024 MassMutual employee engagement survey
Award-Winning Culture
MassMutual is guided by a single purpose: We help people secure their future and protect the ones they love. As a company operated for the benefit of our members and participating policyowners, we are defined by mutuality and our vision to provide financial well-being for all Americans. It’s more than our company structure — it’s our way of life. We are a company of people protecting people. Our company exists because people are willing to share risk and resources and rely on each other when it counts.
We strive to build a thriving community where everyone is valued, included, and feels that they belong.
At MassMutual, we Live Mutual.
How We Work
MassMutual’s flexible workplace approach combines the importance of connecting in person and the flexibility of working remotely. Our hybrid model puts collaboration first with employees coming in at least three days per week to our spectacular campus settings and also enjoying the flexibility of remote Fridays, company-wide remote weeks, and a bank of flexible remote weeks to use throughout the year.
Benefits for the whole you (and your loved ones)
There’s more to your life than your job and there’s more to your aspirations than a paycheck. We take a holistic view of compensation and benefits that provides the flexibility to create a healthy balance in your life for work, family, and community. We offer the benefits you’d expect, like medical, dental, 401(k), and generous vacation time, but we also offer ones you might not expect, like three paid days for volunteering, a $1,250 annual Well-Being Wallet, and up to 320 hours of caregiver leave.
Explore some of our offerings below. Benefit details can be found here.
Why MassMutual?
Kevin
Compliance Consultant
Seth
Service Management Consultant
Kymberly
Head of Experience Journey Mapping
where we work
Springfield Office
1295 State Street, Springfield, MA
Boston Office
10 Fan Pier Blvd, Boston, MA
New York Office
2 Park Ave,
New York, NY
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