Head of Credit Risk Management

About the positionResponsibilities• Oversight responsibility for credit risk management, including coordinating with leaders in Investment Management and CFO to ensure associated policies and frameworks and their execution remain current and appropriate to the company's overall objectives and risk appetite. • Ensure effective governance of all key credit risks through consistent approach to risk identification and top risk processes, collaborating with Investment Management, and maintain a current view of macroeconomic and investment risk themes and topics.• Accountability for counterparty credit risk management, notably related to MassMutual's use of derivatives and reinsurance, including management of Counterparty Credit Risk Committee and related credit surveillance and analysis. • Support the Head of Capital & Investment Risk and Chief Risk Officer in new deal approval process by providing due diligence review and risk insights into potential new investments, particularly those which are large, complex and private in nature. • Conduct targeted credit reviews of portfolios expected to be most exposed under stressed credit cycle scenarios, utilizing credit risk modeling tools to support analysis.• Partner with others in Capital & Investment Risk Management, notably Head of Capital Risk, to analyze potential impacts and available management options associated with credit risk stresses and other tail scenarios, to recommend appropriate actions as appropriate. • Ensure market-leading credit risk analytical capabilities are maintained as needed to support portfolio and counterparty credit risk management, CECL (Current Expected Credit Losses), risk appetite analysis and reporting, coordinating with Investment Management and Enterprise Technology.• Coordinate with the Sustainability and Investment Management teams to provide insights into climate related investment risks, and ensure climate risk considerations are appropriately reflected in relevant investment risk measurement tools, policies and frameworks. • Work with Investment Management to ensure continuation of appropriate risk controls and oversight of our external investment managers. • Scope and lead complex projects, often in a matrixed setting across multiple functions applying change management, influencing, and communication skills.• Present risk analysis and recommendations to the Investment Oversight Committee and Enterprise Risk Committee. • Attract, develop and retain top talent with a special focus on inclusion and career development; design and distribute work strategically, empowering the team to execute collectively and effectively. Requirements• 10+ years of relevant work experience working in investment risk management (insurance company focus). • Extensive experience in fundamental credit risk analysis and quantitative credit modeling across a wide range of fixed income, structured, equity and real estate asset classes.• Knowledge and experience working with derivatives and reinsurance. • 5+ years managing people and a well established record of project management. • Success working in collaborative team environment with matrix management. • Strong executive communication and presentation skills. • Ability to work independently and take initiative. Nice-to-haves• Deep investment risk expertise within the insurance industry, including a clear understanding of credit risk frameworks, taxonomy and related risk management techniques and tools.• Capital markets experience, including detailed knowledge and experience and familiarity with range of asset classes relevant to MassMutual. • Working knowledge and experience working on ESG initiatives. • Superior communication skills, both verbal and visual. • Strong analytical and problem-solving skills, including ability to drill down on details, perform analyses, resolve issues and distill findings into a concise summary of key conclusions and recommendations. • Experience of leading large, complex projects.• 5+ years of insurance risk experience. • An advanced degree in Financial Engineering, Mathematics, Actuarial Science, Physics, Engineering or similar quantitative discipline preferred. • Relevant professional certifications (e.g., FSA, CFA, CAIA, FRM) preferred. • Experience working with Moody's Analytics credit risk modeling tools. Benefits• Industry leading pay and benefits. • Access to mentorship opportunities. • Access to learning content on Degreed and other informational platforms. • A strong and stable ethical business.Apply tot his job