Quantitative Risk Developer

Job Description

The Opportunity

This is an exciting opportunity for a highly motivated and collaborative risk professional with strong quantitative and development expertise to join the Credit Risk Management team within the Capital and Investment Risk Management team and the broader Enterprise Risk Management division.

As a quantitative risk developer within the Capital & Investment Risk Management team, you will be responsible for leading quantitative model implementation, development, and analysis. The ideal candidate will join a quant team to enhance Enterprise Risk Management (ERM)’s analytical and reporting capabilities, by expanding the use of existing models as well as designing and developing new tools and risk frameworks.

You will work with capital, credit, market and portfolio risk teams, and ERM more broadly. This is an excellent opportunity to collaborate with risk, investment and finance, and enterprise technology (including data science) teams.

The Team

The Capital & Investment Risk team brings together a diverse team of experts across capital markets, risk management, actuarial, and quantitative disciplines that works together to deliver analysis and recommendations related to the management of credit, market, liquidity and capital risk, consistent with the enterprise risk appetite framework for which the team is also responsible.

The team continues to be successful in driving improvements in tools, technology and processes, for more consistent risk analysis and reporting, and enabling greater opportunities for scale and efficiency within ERM and with stakeholders in Investment Management and Finance.

The Impact

In this role, you will play a critical part in ensuring company’s credit risks are effectively identified, measured and mitigated, by bringing your deep analytical expertise and strong understanding of credit risk / investment risk modeling, data and infrastructure.

Your work will help shape robust, data-driven decision-making across risk and investment areas and influence MassMutual’s evolving business strategy and operating environment.

You will partner with your peers in driving improvements in tools, technology and processes, for more consistent risk analysis and reporting, and enabling greater opportunities for scale and efficiency within ERM and with stakeholders in Investment Management and Finance.

There is a strong emphasis on innovation, with growing opportunity to apply AI-driven techniques and scalable data solutions to drive more forward-looking, efficient risk analytics that embrace emerging technologies.

The key to success in this role is a sharp analytical mindset, the ability to translate complex risk metrics into actionable insights, and a strong partnership approach with stakeholders across risk, investment management, finance, and technology.

Notable responsibilities include :

Implement, develop and enhance ERM’s analytical capabilities related to credit / market risk across a wide range of fixed income asset classes

Building on MassMutual’s current approach, assist in developing and syndicating a comprehensive framework for measuring portfolio credit & market risk, that considers different accounting and capital regimes, including asset and liability impacts, with a particular emphasis on economic capital

Automate and expand the use of Moody’s credit risk tools in place today and build risk- reward framework

Use of Python / SQL. Also, use of spreadsheets and VBA to prototype and analyze data including data investigation / cleanup

Strengthen ERM’s use and development of tools and analytics to support derivatives counterparty risk, portfolio concentration risk & stress testing capabilities

Mentor junior quantitative analysts

Scope and implement modeling, including building out requirements where not yet fully defined or understood.

The right candidate will be agile, accountable and resilient in driving initiatives and the results

The Minimum Qualifications

Bachelors degree in Computer Science, Financial Engineering, Mathematics, Physics, Engineering or similar quantitative discipline

Minimum 8 years of relevant work experience with 5 years in investment (credit / market) quantitative risk analytics OR 5 years of relevant work experience in investment (credit / market) quantitative risk analytics combined with graduate studies

5+ years of experience with expertise in Python, SQL and development skills in object-oriented programing

5+ years of experience with strong quantitative model development & implementation skills and ability to validate / understand and explain analytical results

5+ years of experience in quantitative risk modeling across a wide range of asset classes

3+ years of experience with ability to engage with operational work in production environment with IT developers / solution architects in maintaining infrastructure

5+ years of experience with quantitative and programming skills in a hands-on setting to deliver new functionality

The Ideal Qualifications

7+ years of relevant work experience in investment (credit / market) quantitative risk analytics is desirable

Advanced degree in Computer Science, Financial Engineering, Mathematics, Physics, Engineering or similar quantitative discipline is preferred

Knowledge and experience working with derivatives and hedging risk management

Experience in using Moody’s Analytics credit risk tools is desirable.

Experience in CECL compliant portfolio credit models

Experience applying machine learning techniques in the financial industry is desirable

Software development using GitHub and Docker, adhering to enterprise standards and best practices ensuring models are validated and governed

Previous experience working on liability-driven investing projects within an insurance company is desirable

What to Expect as Part of MassMutual and the Team

Regular meetings with the Quantitative teams within ERM, Investment management & ETX project teams

Focused one-on-one meetings with your manager

Networking opportunities including 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 string and stable ethical business with industry leading pay and benefits

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MassMutual is an equal employment opportunity employer. We welcome all persons to apply.

If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.