Job Description
Role: Head of GIA Model Development
Department: Investment Management
Group: Portfolio Management Group
Team: GIA & VA Asset Modeling and Development
Location: Boston/Springfield/New York
Position: Full-Time
The Opportunity
As the Head of GIA Model Development, the ideal candidate will draw on their extensive background in financial models and software development principles to lead a team of quantitative developers. A background in asset liability management, fixed income and equity instrument modeling will help you in working closely with quantitative strategists, subject matter experts, and other development resources to build features, components, and analytics of our General Investment Account (GIA). This role requires Python and SQL programming ability and comfort with emerging cloud-based technologies. You will lead a team in a fast-paced, innovative and collaborative environment to run and enhance MassMutual’s market analytics. In addition to building applications and analytics infrastructure, the candidate will support applications already built by the team, understand them and help communicate model results to portfolio managers and the rest of the modeling team.
The Team
This position will be part of the Quantitative Research and Development (R&D) team within Investment Management. The team has a primary focus and responsibility for researching new ideas and strategies and for developing underlying technologies and analytics across MassMutual’s hedging programs. As part of R&D, you will have numerous opportunities to learn, develop, and apply new skills using the latest technologies within a continuously evolving business and market landscape. Our collaborative environment and inclusive culture will encourage you to contribute ideas and participate in a wide range of initiatives across the department.
The Impact
The Head of GIA Asset Modeling’s primary responsibility is to lead the team responsible for MassMutual’s fixed income asset models used to manage market risk in the General Investment Account. This role has accountability for performing the following:
- Architect, design, and build cutting edge technology solutions to inform Portfolio Managers with risk analytics to drive investment hedging strategies. Using holistic input from Head of GIA & VA Asset Modeling and Development as well as leadership peers, set priorities and direction for the team on the solutions, applications, and technologies to work on.
- Own and support already built functionality and applications which track portfolio risk, and provide guidance for Asset Liability Management (ALM)
- Partner with fellow colleagues in Quantitative R&D to build models to support new asset classes and hedging strategies by implementing them into our ALM systems.
- Develop cloud solutions such as interactive web applications and distributed computing to facilitate reporting of ALM analytics and increase model efficiency
- Develop and provide unit, integration, and regression tests for platform stability and business continuity
- Collaborate with department heads and leaders in other departments of MassMutual including Corporate Actuarial and Enterprise Risk Management as a subject matter expert of asset portfolio modeling and analytics
- Lead the implementation of industry best practices for strong model governance, setting the framework, communicating parameters, and partnership with Model Validation Team to ensure models adhere with guidelines.
- Foster a culture of performance and high achievement across asset model development team
- Manage team of 2 to 5 quantitative developers and actuaries
The Minimum Qualifications
- Minimum of 10 years of background/understanding of financial instruments, rate risk, fixed income asset liability management
- Strong Python coding background
- Experience developing code
- Proclivity for automation
- Code management and testing
- Degree in STEM
- Experience developing analytics models for valuation and risk calculations across market instruments
The Ideal Qualifications
- Additional certification such as FSA or CFA
- Experience leading a modeling team
- Ability to work and develop code in a group setting, where multiple developers build parts of the same process
- Working knowledge of financial rate instruments and interest rate risk
- Key technologies: Python, SQL, Excel, Git, AWS, and related tools and open-source packages
- Ability to take ownership of developed code, be able to make decisions on best approach and defend those decisions
What to Expect as Part of MassMutual and the Team
- Regular meetings with the Portfolio Management stakeholders and R&D team members
- Focused one-on-one meetings with your manager
- Access to mentorship opportunities
- 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
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.
