Model Validations Investment Risk Consultant

Investment Risk Consultant

Model Validations Team, Insurance, Product & Model Risk

Full Time

Springfield, MA, Boston, MA or New York, NY

The Opportunity

As a member of the Enterprise Risk Management (ERM) organization at MassMutual, you will partner with various business areas to conduct independent model validations for a wide variety of models, integral to critical business decision making, product pricing, financial reporting, risk mitigation activities and business processes.   

The Team

The Model Validations team is comprised of seasoned professionals with expertise in actuarial, financial, risk, investment and capital markets models, who are also building knowledge in emerging areas of importance, such as data science, machine learning and artificial intelligence.  The team conducts independent validations on a wide variety of models to ensure the company’s models are conceptually sound and performing as expected. 

The Impact

You will utilize your actuarial, investment, and capital risk modeling expertise to conduct best-practice model validation activities, helping protect the company’s reputation and financial stability through robust management of risks associated with the use of these models. 

If you are someone that has a passion for complexity, continuous improvement, learning and curiosity about different points of view, this may be the right role for you.  

Specific expectations from this role:

• Build relationships, influence, collaborate and learn various aspects of our business from many modelers, data-scientists, actuaries and business leaders at MassMutual.  

• As a risk advisor, participate in the design, development and implementation of new models

• Conduct model validations in accordance with corporate model governance policy requirements and timelines, leveraging deep modeling, asset pricing, actuarial and regulatory expertise.

• Assess model design, theoretical construction, methodology, applicability, and resilience within evolving economic and risk environments, in accordance with corporate, actuarial and/or regulatory standards.

• Validate accuracy of model calculations, algorithms, and any embedded automation / programming code base.

• Design and implement tests to ensure model performance and model output are as expected.

• Prepare and distribute model validation documentation, which meets model governance requirements.

• Test remediation of validation findings.

• Continuously research and provide guidance on the use of new and innovative analytical techniques.

The Minimum Qualifications

• Bachelor’s degree in Actuarial Science, Finance, Econometrics, Statistics, Mathematics, Physics, or another quantitative discipline

• 5+ years of direct experience in one of the following:

  • Capital markets and/ or investment risk

  • Quantitative asset pricing models

  • Liability hedging strategies

  • Statistical methods of analysis

• 3+ Microsoft Excel, Access, and VBA

• 3+ experience with Python

The Ideal Qualifications

• Possess one or more of the following designations

  • Associate of Society of Actuaries (ASA)

  • Fellow of Society of Actuaries (FSA)

  • Charter Financial Analyst (CFA)

  • Certificate in Quantitative Finance (CQF)

  • Financial Risk Manager (FRM)

• 7+ years of direct experience in one of the following:

  • Capital markets and investment risk

  • Quantitative asset pricing models

  • Insurance liability hedging strategies

  • Statistical methods of analysis

• ALM and annuity product pricing experience  

• Knowledge of commercial software, including Prophet, GGY AXIS and Moody's asset models

• Strong statistical, risk, analytical, modeling, and problem-solving skills

• Ability to see the big picture with meticulous attention to detail

• Strong communication and collaboration skills, both written and verbal

• Demonstrated accountability and ownership of self-development

• Ability to build and maintain strong working relationships within and across teams, while challenging in a constructive manner

• Strong execution and time management skills

What to Expect as Part of MassMutual and the Team

• Regular meetings with the Model Validations Team

• Focused one-on-one meetings with your manager

• Access to mentorship opportunities

• Networking opportunities including the Actuarial Gathering, access to Asian, Hispanic/Latinx, African American, women, LGBTQ, 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.