Capital Risk Lead
At MassMutual, we’re passionate about helping millions of people find financial freedom and this passion has driven our approach to developing highly interactive digital experiences for our customers.
The Capital Risk Team aims to provide timely and value-added insights that are integrated into how MassMutual evaluates, rewards and makes strategic decisions related to risk, capital and value. In order to achieve this vision, the team is setting a number of expansive objectives that build on its strong foundation with the view to increasing the impact and connectivity across the organization.
To help us achieve our mission, we are hiring a Capital Risk Lead to join our team. This role provides an opportunity to join the team at an exciting time and make a meaningful impact while working with various partners across the organization.
What great looks like in this role
The ideal Capital Risk Lead candidate is someone who demonstrates the ability to:
- Adapt and thrive in complex, uncertain and changing situations
- Manage priorities effectively and adapt quickly to achieve goals
- Inform and influence others clearly, timely and appropriately
- Build a deep understanding of business to guide decisions and actions that support strategy
- Demonstrate ability to identify, assess and manage the interpersonal dynamics of self and others in a variety of situations
In this role, you will need to be able to work independently, quickly understand and assess a situation, and collaborate within and across teams to effect positive change. You will use your skills to help increase the positive impact of the Capital Risk team on the organization, by leading initiatives to enhance the team’s framework while also providing support to ensure ongoing requirements and demands on the team are met.
Objectives of this role
- Work closely with the Head of Capital Risk, and the Heads of the Asset and Liability Analytics teams respectively to understand the current economic framework and identified priorities for enhancement from a methodology, modeling and application perspective
- Lead the process to reunderwrite elements of our existing economic framework – understand details of current framework, lead research and analysis into alternative approaches, engage with key stakeholders internally to drive consensus on critical areas, and ensure there is clear, controlled documentation for internal reference and communication
- Lead the process to enhance the governance and control procedures of the Capital Risk team, by building on the team’s current framework and leveraging expertise from other partners (e.g., Model Risk Management, Controllers, Internal Audit) to ensure our processes around methodology and modeling reflect best practices in this area
- Become familiar with the team’s ongoing production and reporting processes, as well as broader initiatives underway at the firm relevant to the Capital Risk team, so that you are in a position to provide ad hoc support in these areas as needed.
Skills and qualifications
- Applies broad or deep expertise in pricing, valuation, research, risk management and/or other actuarial functions.
- Executes complex projects, utilizing business acumen to manage potential issues and conflict.
- Can conduct research independently, distill findings into concise summary of key conclusions and recommendations.
- Influences and engages actuaries and non-actuaries and effectively communicates technical and non-technical information.
- Navigates complexity and ambiguity, resourcefully identifies multiple solutions to a problem, and anticipates and evaluates potential courses of action.
- Possesses the relevant actuarial credential for the role, and may have additional credentials.
- Brings experience of developing and implementing economic frameworks at US insurer
- Preferred qualifications
- Advanced degree in Finance, Econometrics, Statistics, Mathematics, Physics, or another quantitative discipline
- 10+ years of experience in financial services or insurance
- Expert working knowledge of economic value / capital modeling
- Technical qualification in finance, insurance and/or capital markets e.g., CFA, FSA or similar financial qualification