Model Validator

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 with corporate 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

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

Possess one or more of the following designations

Associate of Society of Actuaries (ASA)

Fellow of Society of Actuaries (FSA)

Charter Financial Analyst (CFA)

Certificate in Quantitative Finance (CQF)

Financial Risk Manager (FRM)

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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Salary Range :

$128,000.00-$168,000.00

At MassMutual, we focus on ensuring fair equitable pay, by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.