MassMutual
We help people secure their future and protect the ones they love.
Boston, MA
Hybrid

Impact Investment Portfolio Manager

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Portfolio Manager, Impact Investing

Alternative Investments Team, Investment Management, Massachusetts Mutual Life Insurance Company

About MassMutual:

Since 1851, MassMutual’s commitment has always been to help people protect their families, support their communities, and help one another. This is why we want to inspire people to Live Mutual. We’re people helping people.

A career with us means you will work alongside exceptional people and be empowered to reach your professional and personal goals. Our employees are the foundation of what makes MassMutual a strong, stable and ethical business. We seek and value unique and varied perspectives and experiences because we believe we are stronger when all voices are heard. We invite you to bring your bright, innovative ideas to MassMutual as we continue to help millions of Americans rely on each other.

Together, we’re stronger.

MassMutual’s vision is that everyone across America achieves financial well-being, however the stark reality is that millions of Americans live in financial deserts, surviving paycheck to paycheck and are one emergency away from not being able to meet their most basic needs. We feel that we have a role to play in leveling the playing field, and in response to these wide-spread economic challenges, MassMutual and the MassMutual Foundation recently launched the Live Mutual Project. In support of this initiative, we are looking for a creative, pragmatic and experienced investment professional with a deep interest in impact investing to help us meet our (developing) Live Mutual Project goals.

The Role:

The Portfolio Manager will inherit leadership responsibility for an existing investment vehicle focusing upon the Springfield, Massachusetts community (Springfield Venture Fund) and partner with the leadership of Community Responsibility and of Investment Management to develop and execute our next generation of impact investment strategy. 

With the launch of the Live Mutual Project in 2018, there is tremendous opportunity to expand upon the existing fund model to support this exciting new social impact platform driven by the MassMutual Foundation. The Live Mutual Project targets financial deserts across the US, helping community partners convene, collaborate, coordinate and allocate resources towards a shared vision of prosperity. Through this collaboration and targeted investments, we help them build capacity, develop leadership and create connections to strengthen financial well-being, now and for generations to come.

Depending upon the interests and prior experience of the successful candidate, the Portfolio Manager may also actively participate in the broader alternative investment sourcing, analysis, selection and portfolio management of the Alternative Investments Team.

The Team:

The Alternative Investments team is a small, flat and highly focused team responsible for Alternative and Real Estate Investments for the General Investment Account of MassMutual, including illiquid asset strategies such as private equity, infrastructure and real assets, private lending and real estate as well as structured, alternative execution of liquid asset strategies. The team effects such strategies through asset allocations to asset management firms, through investments in fund vehicles and through direct investments. The team has a collaborative approach to decision making; but given the lean, flat structure of the team, each Portfolio Manager also functions as a deal sourcer, analyst, transaction negotiator and deal modeler. 

Key Responsibilities:

+ Partner with the leadership of MassMutual’s Community Responsibility team and the leadership of MassMutual Investment Management to develop our next generation of impact investment strategy with the goal of furthering our Mutual values while fulfilling our fiduciary duty to our policyholders.

+ Manage the execution of the impact investment strategy, including the recruitment and selection or partners and/or team members, as appropriate.

+ Oversee investment approval and portfolio management of impact investments, consistent with the revised strategy.

+ In partnership with Community Responsibility, serve as a voice for MassMutual within the impact investment community.

Qualifications:

This role needs an individual who knows how to do well by doing good. A candidate should have a broad knowledge of impact investing, both successful and unsuccessful, and be able to lead a discussion among senior management about what makes sense for MassMutual as a next generation impact investment program. A candidate should also have sufficient traditional investment experience to be able to interpret the risk/reward of potential impact investments for an audience accustomed to reviewing traditional private equity or private lending investments. The ideal candidate will be comfortable with one foot in each of these complementary worlds. 

General qualifications:

At least 5 years of investment experience, a meaningful portion of which must include making investment recommendations on specific investments based upon fundamental analysis. At least 3 years of experience in community impact investing. Exceptional communication and interpersonal skills to assume a leadership role in a fast paced, small team environment. An understanding of the impact investment market and a willingness to articulate opinions as to what works and what does not. Chartered Financial Analyst designation preferred. Very strong problem solving and logic skills.

Primary Work Location: Boston, but frequent travel to Western Massachusetts and some other travel.

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What are MassMutual Perks + Benefits

MassMutual Benefits Overview

At MassMutual, employees have the opportunity to earn a competitive salary and bonus, enroll in an
array of benefits, and participate in programs and services that support healthy lifestyles, assist them
in building financial security for themselves and their families and help them live well-balanced lives.

Culture
Volunteer in local community
Every action supporting a common cause is meaningful, and our employees make a difference in their own communities through our Matching Gift, Matching Time and Volunteer Time Off Programs.
Partners with nonprofits
Every year, MassMutual and the MassMutual Foundation invest more than $20 million focused on advancing economic opportunity. https://www.massmutual.com/about-us/corporate-responsibility/foundation
Open door policy
OKR operational model
Team based strategic planning
Open office floor plan
Employee resource groups
Employee-led culture committees
Hybrid work model
In-person all-hands meetings
Employees can either attend the in-person all-hands meeting, watch live via Zoom, or watch the recording. All employees are invited to submit questions.
Employee awards
Flexible work schedule
Flexible work arrangements, including telecommuting, are available in many departments across the company.
Remote work program
In addition to two remote days per week, MassMutual offers employees four full remote weeks of their choice per year.
Diversity
Documented equal pay policy
Dedicated diversity and inclusion staff
Highly diverse management team
More than half of our Board of Directors are comprised of women and people of color, making it one of the most diverse groups in the industry.
Mandated unconscious bias training
Diversity manifesto
Diversity employee resource groups
Hiring practices that promote diversity
Diversity recruitment program
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
A health care flexible spending account (FSA) allows employees to save money on a before-tax basis for eligible medical, dental and vision expenses, subject to IRS limits.
Disability insurance
For details on short term and long term disability insurance please visit https://www.massmutual.com/-/media/files/employee_benefits.pdf
Dental insurance
Basic Dental covers preventive and basic restorative care; Major Dental covers all that Basic covers, plus restorations and orthodontia (limits apply).
Vision insurance
Health insurance
To learn more about our Health and Welfare Benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf
Life insurance
For more information about our Life Insurance Benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf
Pet insurance
Wellness programs
Team workouts
Mental health benefits
Transgender health care benefits
Wellness days
Abortion travel benefits
Our general medical travel benefit covers abortion-related travel.
Financial & Retirement
401(K)
In addition to our 401(k), MassMutual a cash balance plan that provides an account-based pension benefit based on accruals of pay credits and interest credits.
401(K) matching
Performance bonus
Charitable contribution matching
Every action supporting a common cause is meaningful, and our employees make a difference in their own communities through our Matching Gift and Matching Time Programs.
Pay transparency
Child Care & Parental Leave Benefits
Childcare benefits
Dependent care flexible spending account to allow you to set aside before tax dollars to pay for certain eligible child care expenses.
Generous parental leave
Leave for birth mothers of 18 weeks of fully paid leave. Non-birth mothers, fathers and adoptive parents eight weeks of fully paid parental leave.
Family medical leave
Caregiver leave: Up to two weeks paid leave to care for a loved one. Bereavement Leave: 15 days of paid time off to grieve the loss of a loved one with the employee defining who the loved one is.
Adoption Assistance
Company sponsored family events
MassMutual offers many opportunities for family events, from group volunteer experiences and chances to attend Red Sox games to business resource group-sponsored outings like annual pride parades.
Fertility benefits
Vacation & Time Off Benefits
Generous PTO
Paid holidays: 9 fixed and 1 floating. Vacation: starts at 19 vacation and personal days per calendar year, with increases at 5-year service intervals.
Paid volunteer time
Three days of paid time off is available to employees annually to give back to their communities, by sharing their time and talent with a cause close to their heart.
Paid holidays
Paid sick days
Occasional illness: up to 5 days per calendar year.
Flexible time off
Floating holidays
Bereavement leave benefits
Hardship benefits
320 hours of caregiver leave to take of loved ones when it matters most.
Office Perks
Commuter benefits
Free daily meals
Free snacks and drinks
Some meals provided
Onsite office parking
Recreational clubs
Relocation assistance
Fitness stipend
Home-office stipend for remote employees
MassMutual's wellness wallet is a stipend available to all employees, and can be used for myriad wellness-related purchases, including home-office purchases.
Meditation space
Mother's room
Onsite gym
Professional Development Benefits
Job training & conferences
Tuition reimbursement
Lunch and learns
Promote from within
Mentorship program
Continuing education stipend
Continuing education available during work hours
Online course subscriptions available
Customized development tracks
Paid industry certifications
Personal development training
Virtual coaching services

Additional Perks + Benefits

To learn more about our comprehensive benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf

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