Head of Strategic Risk at MassMutual

| Greater Boston Area
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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, 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

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Technology we use

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Location

We currently have two Boston office locations at both 470 Atlantic Ave and One Marina Park.

An Insider's view of MassMutual

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 Adoption Team Lead

What's the biggest problem your team is solving?

You don’t think of insurance as a hotbed for innovation but the very nature of our organization, Digital Experience, is to reimagine how a 168-year old company does business with its customers. Our Design team takes pride in an inclusive design process with everyone invited to provide feedback, from Product to Engineering to QA.

Maria

Digital Lead - Design

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

How do you empower your team to be more creative?

I encourage my team to embark on ‘deep work’ at least once a week on a ‘meeting-free’ designated day. We have design reviews to brainstorm alternative ways to solve business problems from a software engineering point of view. We consider self-reflection and brainstorming to be fundamental components of creativity.

Mike

Head of Data Science Software Engineering

How do your team's ideas influence the company's direction?

One of our projects is an application we built for our Investment Mgmt team called ViPER (Visualizing Investment Portfolio Enhanced Reporting). The application makes it easy to manage reports and get insights from Data Science models. Now with ~150 active users, it reflects how we’re using DS to facilitate data driven decision processes across MM.

Jasmine

Head of Data Science - Investments Domain

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.
Intracompany committees
Daily stand up
Team owned deliverables
Open office floor plan
Diversity
Dedicated Diversity/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.
Unconscious bias training
Diversity manifesto
Someone's primary function is managing the company’s diversity and inclusion initiatives
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 Benefits
Basic Dental covers preventive and basic restorative care; Major Dental covers all that Basic covers, plus restorations and orthodontia (limits apply).
Vision Benefits
Health Insurance Benefits
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
Wellness Programs
Onsite Gym
Retirement & Stock Options Benefits
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
Match charitable contributions
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.
Child Care & Parental Leave Benefits
Child Care 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.
Flexible Work Schedule
Flexible work arrangements, including telecommuting, are available in many departments across the company.
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
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.
Perks & Discounts
Casual Dress
Commuter Benefits
Professional Development Benefits
Job Training & Conferences
Tuition Reimbursement
Lunch and learns
Cross functional training encouraged
Promote from within
Online course subscriptions available
Customized development tracks
Paid industry certifications

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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