Position Summary
MassMutual led the BOLI market in sales for majority of years in the past decade, reaching a peak of $2.4 billion in annual sales in 2021, and averaging $1 billion per year. MassMutual's BOLI/COLI institutional assets total nearly $30 billion. We are seeking an Investment Liaison to work with investment managers, BOLI producers, stable value providers, and key clients pertaining to the investment portfolios underlying MassMutual's BOLI/COLI policies/case. This position is the key interface in due diligence, monitoring investment manager performance and communication of investment strategy and performance between the investment managers and BOLI brokers and clients. The Investment Liaison is responsible to ensure the many operational teams and systems are aligned in support of the various mandates including process development and procedural documentation. The position may also participate in sales opportunities by explaining available investment line-ups, details applicable to alternative investments, and contractual terms pertaining to stable value agreements, features and endorsements.
Key Relationships
Reports to: Head of Institutional Insurance
Other key relationships: Internal sales team members, advisors and brokers, MassMutual's Investment Management division, Barings Asset Management, external investment managers and third-party stable value providers
Overall Responsibility
- Serve as the subject matter expert and primary contact person for all investment and stable value related matters internally and externally related to MassMutual’s BOLI/COLI business line including general account UL, registered VUL, and private placement VUL with and without stable value features.
- Relationship management responsibility for all existing and prospective external investment management firms in support of Institutional Insurance program needs. Ensuring all internal MassMutual areas have direct and effective communication avenues as needed.
- Ability to survey the market of investment options available for life insurance programs as well as develop relationships as needed to support Institutional Insurance business.
- Oversight and monitoring of routine and ad hoc investment reporting/analysis needs for of $5 billion in assets of BOLI separate account and hybrid accounts for clients.
- Investment guideline development and monitoring especially in support of Stable Value Wrap guidelines, investment option guidelines triggers and liquidity requirements.
- Understanding of operational requirements for the flow of investment information, pricing and reporting for all investments made available. Primary liaison within MassMutual for any investment or business operations areas and institutional insurance.
- Develop and maintain a due diligence program for existing and potential new managers including ability to retain and report out program results on a regular basis, including annual and bi-annual visits as appropriate
- Continually monitor and improve proprietary process for matching available investment options to customer benefit programs to facilitate alignment between insurance asset and benefit liabilities.
- Communication of investment manager investment style to clients, and relationship manager for stable value clients
- Management responsibility for investment analyst role, supporting the business including oversite of client services' investments support needs, investment operations and Treasury functions.
- Report internally with regards to assets by product, interest rate yields, and internal business growth.
- Work within Institutional Insurance to expand investment knowledge through internal presentations, communications and informal meetings.
- Liaise with MassMutual Investment Management teams as appropriate to source portfolio information and respond to producer and client questions. Support the preparation of investment presentation materials, for Institutional Insurance team presentations. |
- As needed provide responses for Institutional Insurance sales team for broker and client one-off questions regarding the General Account, interest rates and the impact of economic events on MassMutual.
- As needed, participate/present at broker/client conferences and visit individual clients’ needs.
Candidate Qualifications
- Strong knowledge of full range of investment asset classes and experience articulating investment approach and philosophy.
- Experience managing relationships with external investment managers and/or vendors.
- Experience working in a functional area of a financial services firm that provided exposure to investment terminology and applicable analysis (e.g. investment performance, fees, yields, IRRs, etc.)
- Proficient at reviewing and analyzing both written (contracts, agreements, guidelines) and numerical (financial statements, investment performance reports) materials.
- Demonstrated ability to develop strong relationships and build credibility with internal stakeholders, brokers, advisers, clients and prospects.
- Ability to facilitate and present at broker/client conferences as well as in one-on-one meetings.
- Series 6 or 7 required.
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.
