Mutual Opportunities
Head of GIA Model Development
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
JOB DESCRIPTION
Role: Head of GIA Model Development
Department: Investment Management
Group: Portfolio Management Group
Team: GIA & VA Asset Modeling and Development
Location: Boston/Springfield/New York
Position: Full-Time
The Opportunity
As the Head of GIA Model Development, the ideal candidate will draw on their extensive background in financial models and software development principles to lead a team of quantitative developers. A background in asset liability management, fixed income and equity instrument modeling will help you in working closely with quantitative strategists, subject matter experts, and other development resources to build features, components, and analytics of our General Investment Account (GIA). This role requires Python and SQL programming ability and comfort with emerging cloud-based technologies. You will lead a team in a fast-paced, innovative and collaborative environment to run and enhance MassMutual’s market analytics. In addition to building applications and analytics infrastructure, the candidate will support applications already built by the team, understand them and help communicate model results to portfolio managers and the rest of the modeling team.
The Team
This position will be part of the Quantitative Research and Development (R&D) team within Investment Management. The team has a primary focus and responsibility for researching new ideas and strategies and for developing underlying technologies and analytics across MassMutual’s hedging programs. As part of R&D, you will have numerous opportunities to learn, develop, and apply new skills using the latest technologies within a continuously evolving business and market landscape. Our collaborative environment and inclusive culture will encourage you to contribute ideas and participate in a wide range of initiatives across the department.
The Impact:
The Head of GIA Asset Modeling’s primary responsibility is to lead the team responsible for MassMutual’s fixed income asset models used to manage market risk in the General Investment Account. This role has accountability for performing the following:
• Architect, design, and build cutting edge technology solutions to inform Portfolio Managers with risk analytics to drive investment hedging strategies. Using holistic input from Head of GIA & VA Asset Modeling and Development as well as leadership peers, set priorities and direction for the team on the solutions, applications, and technologies to work on.
• Own and support already built functionality and applications which track portfolio risk, and provide guidance for Asset Liability Management (ALM)
• Partner with fellow colleagues in Quantitative R&D to build models to support new asset classes and hedging strategies by implementing them into our ALM systems.
• Develop cloud solutions such as interactive web applications and distributed computing to facilitate reporting of ALM analytics and increase model efficiency
• Develop and provide unit, integration, and regression tests for platform stability and business continuity
• Collaborate with department heads and leaders in other departments of MassMutual including Corporate Actuarial and Enterprise Risk Management as a subject matter expert of asset portfolio modeling and analytics
• Lead the implementation of industry best practices for strong model governance, setting the framework, communicating parameters, and partnership with Model Validation Team to ensure models adhere with guidelines.
• Foster a culture of performance and high achievement across asset model development team
• Manage team of 2 to 5 quantitative developers and actuaries
The Minimum Qualifications
• Minimum of 10 years of background/understanding of financial instruments, rate risk, fixed income asset liability management
• Strong Python coding background
• Experience developing code
• Proclivity for automation
• Code management and testing
• Degree in STEM
• Experience developing analytics models for valuation and risk calculations across market instruments
The Ideal Qualifications
• Additional certification such as FSA or CFA
• Experience leading a modeling team
• Ability to work and develop code in a group setting, where multiple developers build parts of the same process
• Working knowledge of financial rate instruments and interest rate risk
• Key technologies: Python, SQL, Excel, Git, AWS, and related tools and open-source packages
• Ability to take ownership of developed code, be able to make decisions on best approach and defend those decisions
What to Expect as Part of MassMutual and the Team
• Regular meetings with the Portfolio Management stakeholders and R&D team members
• Focused one-on-one meetings with your manager
• Access to mentorship opportunities
• 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-IZ1
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: $180,700.00-$237,100.00
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?
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where we work
Springfield Office
1295 State Street, Springfield, MA
Boston Office
10 Fan Pier Blvd, Boston, MA
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2 Park Ave,
New York, NY
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