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Mutual Opportunities

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Head of Loan Asset Administration Center of Excellence (CoE)

Boston, Massachusetts; Springfield, Massachusetts; New York, New York
Job Category Investment Management ID R16422
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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.

People working together
Roger Crandall
Roger CrandallCEO
“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

We have an exciting transformational opportunity for a Head of Loan Asset Administration Center of Excellence (CoE) focusing on Bank Loan investment within Insurance General Account Portfolios. The team functions and collaborates alongside the Head of Transactions, as well as leads from other Center of Excellence in Public, Private, and Mortgage-Backed Securities. The Head of the Loan Asset Administration CoE has the unique opportunity to shape the development of the Operations organization by designing and establishing the Loan CoE; this includes strategizing operational best practices for Loan asset servicing, working closely with vendors/third party administrators, and championing change as the CoE model is introduced for this asset class.

This role offers an opportunity to lead over $35B Bank Loan portfolio operations end-to-end. In addition to establishing the center, the Head of Loan CoE’s remit also 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, automating and streamlining processes within the CoE. Additionally, a critical responsibility of this leader is to manage resource planning and capacity analysis to use onshore and offshore teams on the effective delivery of 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, the controllership organization and the investment management leadership team.

The Impact

  • Establish and manage the CoE, including strategizing on COE operating model and COE best practice; determining key operating metrics; and using an outcome-based framework to measure ongoing performance and efficiency improvement

  • Serve as the internal SME on the Bank Loans operations, best practice, processing, and workflow, all while recognizing the bespoke nature of this complex asset class

  • Lead a direct and indirect team across multiple locations 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. Allocate work amongst team and ensure critical deliverables are met on time and with quality / accuracy

  • 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; with a continuous eye on workflow, process and ways to improve the CoE operations.

  • Manage external bank loan administrator partners.  Serve as central point of contact for these parties, measuring performance vs. SLAs, suggesting improvements in servicing, etc. Collaborate with data team and third-party asset managers and service providers, escalating trade operational issues, problem solving, and driving improvements to process, interaction, and touchpoints

  • 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

  • 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

MINIMUM QUALIFICATIONS

Bachelor's Degree in Finance, Accounting, Technology, or related field

10+ 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

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.

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.
EEO Statement (Opens in new window)

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: $148,300.00-$194,600.00
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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

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

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.

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Paid Time Off

  • In addition to generous vacation time, paid holidays, and flexible holidays, MassMutual offers 'take care' time to care for yourself or someone you love—whether for physical illness or mental health.
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Health & Well-Being

In addition to top-line medical and dental coverage, personalized mental health solutions, on-site and virtual health coaching, and much more, MassMutual reimburses employees up to $1,250 per year for eligible expenses supporting mental, physical, and financial well-being.

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Financial Well-Being

In addition to competitive salaries and bonuses, educational assistance programs, and much more, MassMutual offers up to a 10% total 401(k) benefit, consisting of a 5% company match and a 5% annual contribution.

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Taking Care

MassMutual offers generous maternity and parental leaves, as well as bereavement leave to mourn the loss of a loved one (and the employee defines 'loved one'). In addition, we offer up to 320 hours of caregiver leave to help employees support loved ones in times of need.

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Giving Back

MassMutual offers three paid days for employees to volunteer with eligible nonprofits of their choice, and the MassMutual Foundation matches employee donation dollars to eligible nonprofit organizations up to $5,000 annually.

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Commuter Benefits

MassMutual offers a Qualified Commuter Program through which eligible employees can pay qualified workplace commuting expenses with before-tax dollars, as well as a commuter wallet option for employees based at Boston and NYC campuses.

Why MassMutual?

Kevin

Compliance Consultant

Seth

Service Management Consultant

Kymberly

Head of Experience Journey Mapping

where we work

Springfield Office

Springfield Office

1295 State Street, Springfield, MA

Boston Office

Boston Office

10 Fan Pier Blvd, Boston, MA

New York Office

New York Office

2 Park Ave,
New York, NY

Virtual

Virtual

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