Mutual Opportunities
Director of Collateral Management
Boston, Massachusetts; Springfield, 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
As the Director of Collateral Management Operations, our ideal candidate will lead a team of collateral analysts to successful execute the daily collateral management and derivative payment processes related to the MassMutual’s General Investment Account (GIA). Additionally, you will play a key role with our derivative system transformation and have significant interaction with our Program Management Office (PMO) and Enterprise Technology (ETX) partners. You will assist in leading, formulating and defining business and/or systems scope, requirements, and objectives as it relates to designing Derivative and Collateral operations, including cash and securities via SWIFT processing. You will also apply finance, investment accounting knowledge and other technical skills to provide oversight related to the current and future state needs of MassMutual.
The Team
The Director of Collateral Management Operations will report to the Head of Derivative Center of Excellence (CoE), part of MassMutual investment operations teams within the Investment Management Division. The team is responsible for the life cycle of Derivative Investments of MassMutual’s General Investment Account (GIA). The team will play a critical role with our multi-year strategic initiatives related to the transformation of MassMutual’s Derivatives and Collateral applications to support our Target Operating Model (TOM). The effort entails the implementation of one stop shopping for Derivatives, including a front, middle and back office solution. The team will also collaborate cross-functionally with Barings, Investment Management Front Office, Enterprise Risk Management, Compliance, and Controllership accounting teams to ensure we support MassMutual’s investment strategies.
The Impact:
- Effective communicator with internal and external stakeholders on collateral related matters
- Manage daily collateral movements including derivative variation margin and initial margin (cleared, regulatory and legacy), repo margining, FHLB etc.
- Manage daily cash disbursements related to Derivative trades, life cycle events, and coupon payments
- Develop the derivative and collateral operational functions within the Derivative Ecosystem, including implementation of derivative payment workflow and instruction using SWIFT
- Lead the collateral process with FHLB to ensure MassMutual’s borrowing capacity for contingent liquidity
- Responsible for managing aspects of complex transactions and new mandates as it relates to derivatives and collateral management
- Facilitates remediation of derivative and collateral operational issues, including Counterparty/Broker discrepancies
- Identify and implement opportunities for process improvement and automation to streamline manual processes and enhance efficiency
- Lead and mentor the collateral operations team, providing guidance and support to achieve the team and individual’s goals
- Assist with strategic initiatives and projects as the subject matter expert (SME) and provide business knowledge and requirements
- Develop, implement, and oversee the collateral management strategy, ensuring to align resources and efforts
- Directs staff in the development and implementation of departmental policies, procedures, and programs
- Manage data related to collateral, including tracking, reporting, and analysis, to support internal teams to manage counterparty risk and liquidity
- Lead the collaboration efforts with our strategic partners, such as front office, risk management, compliance/legal, and accounting, to ensure seamless coordination and alignment on current and new strategies
- Maintains MassMutual internal control standards, including timely implementation of internal and external audit points together with any issues raised by internal/external auditors as applicable
The Minimum Qualifications
- Bachelor’s degree in Finance, Accounting, Business Management, or other related field
- 6+ years of general investment and derivative experience including treasury operations experience
- 2+ years of supervisory experience
The Ideal Qualifications
- Investment operations experience with an Asset Management or Insurance Investment Management
- Knowledge in OTC and Exchange Traded Derivatives
- Understanding of collateral management principles, risk management, and regulations
- Understanding of the Investment Management process and the related data flows
- Finance and/or investment operations background
- Ability to work with investment data consumers to understand issues and recommend and execute solutions
- Demonstrated leadership of business analysis and data management
- Understanding of a wide range of asset classes and full end-to-end trade and data flows
- Strong collaboration skills and the ability to work in a team-based environment
- Excellent communication skills with ability to address and resolve conflicts diplomatically
- Familiarity with our internal and third-party systems: Calypso, Murex, AcadiaSoft, TriOptima, Bloomberg
#LI-MM1
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: $131,100.00-$172,000.00
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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