Role:  Associate Quantitative Derivative Portfolio Manager

Department: Investment Management

Team: Quantitative Portfolio Management

Location: Boston - Hybrid

Position: Full-Time (3+ days in office per week)

The Opportunity:

The Associate Quantitative Derivative Portfolio Manager will be supporting the management of derivative portfolios in one or more segments of the general or corporate investment accounts. This includes performing daily portfolio management activities, such as rebalancing risk and evaluating tactical relative-value tradeoffs, while also contributing to the research of alternative hedging strategies employing simulation and back-testing techniques. The Associate Quantitative Derivative Portfolio Manager will work closely with teams across Investment Management, Barings, and Enterprise Risk. Multiple opportunities available with a focus on Rate, Credit, or FX derivative management.

The Team:

The Quantitative Portfolio Management (QPM) team has primary focus in asset-liability management (ALM), product pricing, and the formulation and execution of quantitative strategies that enhance policyholder surplus and mitigate unwanted risks in the portfolio. The team oversees all derivative-related aspects of MassMutual’s portfolio management process, managing exposure to interest-rates, foreign exchange rates, credit spreads, volatility, and equity. A small and highly collaborative team, QPM works with other groups across Investment Management to manage MassMutual's product portfolios and the approximately $250 billion General Investment Account (GIA). In addition, this high-profile group works with our other internal stakeholders including product, actuarial, treasury, accounting, risk, compliance, and external partners, including our primary asset management subsidiary Barings and the major Wall Street derivative broker/dealer counterparties.

The Impact:

The Associate Quantitative Derivative Portfolio Manager will be accountable for the following:

Support of daily portfolio management activities like review of current risk, recent activity, trade input, attribution, profit and loss, and lifecycle of portfoliosIdentify market opportunities, analyze alternative hedging strategies, and suggest transactions, to increase hedge effectiveness for portfolio managementDevelop bespoke simulation, back-testing and/or other research projectsCollaborate with colleagues in other areas of MassMutual as needed – enterprise risk, corporate actuarial, finance and accounting, etc.

The Minimum Qualifications

5+ years of derivative market experience in at least one of the following: listed and OTC equity options, TRS, futures/forwards, CDX, interest rate swaps/swaptions, and cross-currency swapsBachelors in Math, Financial Engineering, Computer Science or related field

The Ideal Qualifications

7+ years of derivative market experienceStrong background/understanding of capital markets and financial instrumentsStrong quantitative expertise: statistics, mathematics, and computer science (python / SQL required)Ability to develop market viewsDeep knowledge of derivatives in all dimensions – risk, economics, tax, accountingAdvanced quantitative degree (MFE, PhD)Strong understanding of portfolio management and ALM in a life insurance companyStrong communication skills and ability to discuss technical topics to non-experts

What to Expect as Part of MassMutual and the Team

Regular team meetingsFocused one-on-one meetings with your managerAccess to mentorship opportunitiesNetworking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQIA+, veteran and disability-focused Business Resource GroupsAccess to learning content on Degreed and other informational platformsYour 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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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. EEO Statement (Opens in new window)

MassMutual will accept applications on an ongoing basis until such time as a candidate has been offered employment. The job description includes the main duties of this position, which may evolve over time. You may be required to perform other duties not listed.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment.

Salary Range: $107,700.00-$141,300.00