Head of Strategic and Competitive Risk

| Greater Boston Area

POSITION SUMMARY:
This is an opportunity to join a thriving insurance organization. Growth, innovation and a consistent focus on policyholders and customers sets MassMutual apart and gives us a competitive edge in the market. We consistently challenge ourselves to deliver. Help us change the future and join a team committed to excellence.

MassMutual is seeking a highly motivated and experienced professional to join the Enterprise Risk Management area. Responsibilities include creating and evolving a framework for managing strategic, competitive, talent, sustainability and other risks as they emerge. The ideal candidate will employ models to create financial analysis that drives decisions on risks taken by the firm. This position requires the ability to “think outside the box” identify emerging risks and influence the lines of business to implement strategies to mitigate them.

KEY RELATIONSHIPS

Reports to: Head of Risk Strategy

Other key relationships: Risk professionals within ERM and across the enterprise, risk owners in the lines of business and subsidiary companies, in particular HR and Corporate Strategy, and 2nd and 3rd line professionals such as Audit, Compliance, IT Risk and Law

OVERALL RESPONSIBILITY:

  • Risk Stewardship
    • Develop a comprehensive, analytically well-supported, framework for understanding the risk to our strategy, including key global and domestic business and financial trends, in order to inform risk analysis and constructively challenge strategic business decisions. This will require:
      • Assimilating and synthesizing data and research to maintain a comprehensive view of key evolving trends in global and domestic financial and consumer markets, and the risks posed to expected outcomes;
      • Developing and maintaining a comprehensive understanding of MassMutual’s business operations and potential strategic opportunities, in the context of external trends;
      • Developing and maintaining a comprehensive understanding of the competitive universe within which MassMutual operates, and to which it could become exposed should strategic choices to enter new markets be made;
      • Specifically developing an in depth perspective on the strategic opportunities and threats presented by the evolving strategy and related investments of MassMutual International in Asia,
      • Developing or contributing to risk assessments as required in order to evaluate and articulate the risks of existing, proposed or potential businesses; and
    • Similarly, create a framework for assessing talent risk, sustainability risk and other risks as they evolve, including recommending an appropriate structure, resources, and tools for management of these risks
    • Risk reporting to senior management, chief risk officer, and the Enterprise Risk Committee. Reporting includes key risk indicators, risk framework, root cause analysis, and risk mitigation
    • Advocate and drive changes needed to achieve expected results, while balancing cost and benefits
    • Review and enhance Key Risk Indicators and existing processes
    • Participate on cross-functional committees to help mature processes and ensure incorporation of risk considerations into business decisions. Take leadership role to resolve risk conflicts, when needed
  • Risk Strategy
    • Self-starter who finds solutions, seeks to understand the company and its business, and where the risks lie
    • Actively involved in communicating the Enterprise Risk Management Framework, and keeping it fit-for-purpose
    • Exceptional powerpoint and written skills for powerful visuals and succinct messaging
    • Continuously and proactively scan for new and emerging risks and analyzing their potential impact
  • Special projects
    • Lead or contribute to special projects as needed including M&A activity, rating agency, specific risk frameworks/assessments, or other reporting projects
    • Represent MassMutual at risk peer conferences and working groups
  • Teamwork
    • Facilitate consistency of adoption of risk practices across the enterprise business units and subsidiaries
    • Excel at building solid relationships with the risk owners/first line of defense and advisors such as Corporate Strategy, and have the ability to influence these interested parties to understand and improve their risk management as needed

CANDIDATE QUALIFICATIONS:

  • Bachelor’s degree or equivalent is required; advanced degree/certificates highly preferred
  • 10+ years of experience, ideally in life insurance, risk management and/or corporate strategy
  • Demonstrated success in leading and driving solutions involving multiple layers of management, and multiple simultaneous deliverables
  • Thrives when facing ambiguity and complexity; willingness to explore multiple solutions to a problem
  • Proven ability in quantification methods to assess risks and mitigations
  • Highly effective critical thinker that can synthesize information from disparate sources and identify the key risks and issues for management action
  • Strong communicator, both written and verbal, comfort with presenting to all levels of the organization
  • Strong leadership skills; ability to engage and inspire; fosters a sense of energy, ownership, and personal commitment to the work; create an environment in which performance excellence is rewarded
  • Experience influencing and advising on a wide range of complex issues
  • Ability to listen, but also to persuasively convey opinions and recommendations
  • Excels at lead in ambiguous situations or for activities not directly associated with well-defined risk responsibilities
  • Strong matrix management skills; ability to manage multiple projects across the enterprise
  • Excellent interpersonal skills, ability to work with others, influence key stakeholders and lead risk-related discussions
Read Full Job Description

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Location

470 Atlantic Avenue, Boston, MA 02110

An Insider's view of MassMutual

How do you collaborate with other teams in the company?

As a Product Owner, I spend most of my time collaborating with others across different business units. On any given day, I could be spending time brainstorming design concepts of upcoming features with our design team or assisting them with presenting these concepts to outside users as part of our user testing process.

Ryan

Digital Product Owner

What makes someone successful on your team?

Successful people on my team are: passionate, curious, receptive, and engaged. Each team member is expected to be passionate about the work that they do, and the domains in which they practice. They are always solving unique problems and must be curious about finding new solutions.

David

Digital Lead

What’s the vibe like in the office?

We work in an open floor plan, so there is a lot of opportunity for networking across roles, teams and levels. Everyone is very friendly and welcomes the opportunity to get to know other people on the floor.

Kristina

Digital Product Manager

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.

Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Disability Insurance
Dental Benefits
Vision Benefits
Health Insurance Benefits
Life Insurance
Wellness Programs
Retirement & Stock Options Benefits
401(K)
401(K) Matching
Child Care & Parental Leave Benefits
Child Care Benefits
Generous Parental Leave
Adoption Assistance
Vacation & Time Off Benefits
Generous PTO
Paid Volunteer Time
Paid Holidays
Paid Sick Days
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