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 withcorporate 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
Associate of Society of Actuaries (ASA) or CFA designation
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
Fellow of Society of Actuaries (FSA) or CFA designation
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
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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.
