Head of Emerging RiskBoston, Massachusetts Risk Management Job ID R13692
The role within the Risk Strategy team within Enterprise Risk Management (ERM) provides a unique opportunity for a leader in risk management to help further design, develop, implement, and communicate the company’s risk framework for sustainability/ESG, talent and MassMutual’s strategic and subsidiary entities.
Core to this purpose is Risk Management, which seeks to influence company decisions with an enterprise view of risk and reward to help MassMutual execute on its strategic initiatives to become the best company in the financial industry. As we embark on a range of strategic imperatives to grow our businesses, the importance of our strong risk management foundation has never been clearer.
As MassMutual navigates several emerging risks in our industry, our ERM operating model must continue to evolve. The Risk Strategy team will assist by collaborating with ERM leadership and key stakeholders to provide the necessary context and analysis that ensures we are best positioned to manage these complex risks. The team will do this through:
- Collaboration with the various other ERM teams as well as business partners across the firm to ensure effective stewardship of assigned risks, currently including talent and sustainability/ESG risks, acting as second line risk stewards and developing insights to inform strategic business decisions, as appropriate.
- Development of a process to synthesize the current risk overview/tracking/monitoring of MassMutual strategic investments and subsidiaries into a single, cohesive output. Assuring the governance and top risk monitoring of these entities are comprehensive.
- Execution of MassMutual’s Own Risk and Solvency Assessment (ORSA) and other regulatory requirements aimed at assessing the adequacy of MassMutual’s risk management and current and prospective solvency positions under normal and severe stress scenarios.
The Risk Strategy team will also be responsible for facilitating the effectiveness of the ERM function, working alongside the ERM leadership team to coordinate ERM activities, engagement with stakeholders across the enterprise, continuous improvement, development of risk strategies, roadmaps and change management for ERM to continue its transformation toward prioritized and automated access to risk data and analysis. Our goal is to ensure best-in-class risk management utilizing automated tools and techniques to identify, assess, manage, monitor and report on risks across the enterprise.
- Designs and develops risk frameworks for talent risk, ESG / sustainability risk to result in effective monitoring and insightful recommendations for the business and overall risk management by applying business acumen, trend analysis, and deep thought to critical risk issues.
- Ensures effective governance structure for all risks throughout the enterprise and its subsidiaries, maintaining awareness of the operation of governance frameworks (including risk oversight) at all MassMutual entities, recommending and syndicating enhancements as needed. Develops and maintains risk dashboard for designated strategic entities.
- Drives substantive strategic risk problem-solving efforts – thought leadership (e.g., defining key questions and problem-solving hypothesis), stakeholder engagement (e.g., leading stakeholder interactions and providing constructive challenge), and team leadership (e.g., leading the research/analysis with our Analysts)
- Where applicable, designs and develops quantitative/analytic models to help monitor and manage assigned risks and develop risk appetites
- Ensures robust risk governance and comprehensive risk register of assigned frameworks and entities.
- Presents conclusions and ensures buy-in by using the most effective, concise, and visual methods, at all levels, including at the Enterprise Risk Committee.
- Leverages broad and holistic risk expertise to create reporting on risks and specializes in cross-functional risk-related projects
- Individual has 10+ years of related experience in the insurance industry across risk consulting, risk management, strategy and/or finance.
- Proven experience in developing and implementing ERM frameworks and risk appetite and risk register development.
- Experience with ESG / Sustainability risk or within the insurance, government or financial services industry
- Expertise in data and analytics
- Strategic thinker with ability to see the “big picture” and prioritize the most valuable risk-related insights.
- Proficient at developing reporting.
- Expert analytical and problem-solving skills
- Able to garner support and gain momentum to bring new ideas through to implementation.
- Prior track record in building partnerships with senior leaders
- Experience and confidence with communicating, influencing, and presenting to senior and executive leadership.
- Outstanding verbal, written and interpersonal communication skills.
- Team Player / Relationship Building: Collaborative with strong interpersonal skills; able to relate to and build strong relationships with diverse internal and external audiences/constituencies; leverages the ability to deliver effectively.
The Ideal Qualifications
- Higher degree, FSA or equivalent
- Understanding of the financial regulatory environment for the insurance industry
#LI-IZ1MassMutual 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.
Jobs Like This One
At MassMutual, we believe in the value of being together in our offices and in personal flexibility.
Our work environment is one where the majority of our team members work a hybrid schedule — working at least three days in the office (Tuesday, Wednesday and a third day) and the rest remotely, balancing flexibility with in-person collaboration. While the majority of our employees follow this hybrid model, some of our roles continue to be 100% on-site and others may be 100% remote, subject to business needs.
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, policyowners and customers, we are defined by mutuality and our vision to put customers first. 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. At MassMutual, we Live Mutual.