Mutual Opportunities
Director, Loan Asset Administration Center of Excellence (CoE)
Boston, Massachusetts; Springfield, Massachusetts; New York, New York
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
Director, Loan Asset Administration Center of Excellence (CoE)
Full-Time Hybrid, Boston MA, Springfield MA, or New York, NY
The Opportunity
We have an exciting transformational opportunity for a Director, Loan Asset Administration Center of Excellence (CoE) focusing on Bank Loan investment within Insurance General Account Portfolios.
The team functions alongside other Center of Excellence in Public, Private, and Mortgage-Backed Securities and has opportunities to contribute to the development of the Operations organization. This role offers an opportunity to lead over $35B Bank Loan portfolio operations end-to-end; this includes partnering with investment management, middle-office data management and technology teams; actively monitoring exposures; managing risk; and managing a team of specialists. This leadership role will set direction for the team, develop vision, influence refinement of operating model and processes, and be a subject matter expert for operational matters. The leader envisions development and execution of projects to scale, automate and streamline processes within the CoE. Additionally, a critical responsibility is to manage resource planning and capacity analysis to utilize onshore and offshore teams to effectively deliver objectives for the CoE.
The position will report to the Head of Investment Management Operations. In this role, you will work with key stakeholders including affiliated and third-party asset managers, third-party administrative service providers, controllership organization and the investment management leadership team.
The Team
Investment Operations extends from relentlessly focusing on stakeholder satisfaction, to accelerating the adoption of automated, digital transaction processing and self-service tools. To this end, the team leverages technology and data to both reshape investment operational support and deliver differentiated stakeholder experiences.
The Impact
- Lead a direct and indirect team to monitor large book of Bank Loan securities positions and transactions and to provide cash match and reconciliations with MassMutual investment and accounting book of records
- Enable the team to provide seamless operational execution on cash and securities transaction processing on third party and affiliated managers’ transactions, exception resolution and query management
- Collaborate with data team and third-party asset managers and service providers, escalating trade operational issues and problem solving
- Drive discussions with critical stakeholders and enablers, including Technology (ETX,) to define operating model, enable improvement projects and initiatives, digitizing and automation efforts to improve operational performance
- Establish and manage the CoE with key operating metrics and utilize an outcome-based framework to measure ongoing performance and efficiency improvement
- Monitor work queues and ensure critical deliverables are met on time and with quality
- Lead/Manage multiple business teams across multiple locations
- Cultivate and develop both associates and the direct management team
- Be the escalation / point of contact for the team and for broader investment management and operations team
- Manage external bank loan administration partners and measure performance using service levels agreements
The Minimum Qualifications
- Bachelor's Degree in Finance, Accounting, Technology, or related field
- 8+ years investment operations, Finance /Accounting experience (ideally in bank loans, private finance equity or public securities structures).
- 2+ years experience in portfolio accounting and administration
The Ideal Qualifications
- Demonstrated experience developing, leading and managing a diverse team, fostering a collaborative approach and strong partnership with a focus on attracting, developing and retaining talent
- Excellent problem-solving skills, excellent attention to detail, and a numerate, analytical approach are crucial
- Prior experience in fund level accounting with real estate accounting or software systems
- Strong written and verbal communication skills coupled with good commercial foresight
- Able to work effectively and collaboratively within a small, dedicated team but also a large local platform
- Ability to meet multiple deadlines leveraging cross-functional teams with little direct supervision
- Committed to delivering the highest quality work product.
- Self-motivated, hard-working and operates with a sense of urgency and a strong attention to detail
- Demonstrated ability to drive process improvement and efficiencies through innovation and collaboration with colleagues and service providers.
What to Expect as Part of MassMutual and the Team
- Regular meetings with the Investment Operations Team
- Focused one-on-one meetings with your manager
- Access to mentorship opportunities
- Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQIA+, 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.
#LI-ST1
MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.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 embrace diversity in every sense, focusing on building 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
Virtual
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