Senior Quantitative Portfolio Manager

0 Saved Jobs Senior Quantitative Portfolio Manager Boston, Massachusetts Job Category Investment Management

ID R20719 OVERVIEW

JOB

DESCRIPTION

HIRING PROCESS CULTURE BENEFITS Thank you to our employees for voting us one of the top places to work in Massachusetts for seven consecutive years! Overview A career with us means you'll work alongside exceptional people and be empowered to reach your professional and personal goals. Our employees are at the foundation of what enables MassMutual to deliver on our purpose to help people secure their futures and protect the ones they love. We embrace the idea that we all are stronger and better through our support for one another. We strive to create a culture where employees feel valued and are celebrated for who they are. Roger Crandall CEO "Since our founding in 1851, mutuality has put our policyowners at the center of everything we do. At our core, we're a company of people helping people in their time of need, and that spirit extends to the culture we've built at our company. Our employees support and rely on each other each day, collaborating to deliver the best solutions for our customers and help millions more secure their future and protect the ones they love." Job Description Senior Quantitative Portfolio Manager Full-Time Boston, MA The Opportunity The Senior Quantitative Portfolio Manager will oversee broad derivatives responsibilities across equity, interest rate, and volatility risk management, leading the strategic construction and evolution of derivatives-based hedging frameworks — with primary ownership of MassMutual's Variable Annuity dynamic hedging platform — and carrying end-to-end accountability for hedge design, governance, risk outcomes, and program-level P&L across market environments. While the Variable Annuity programrepresentsthe largest and most complexinitialmandate, this role is designed to add value across multiple portfolios and risk programs over time, including macro equity hedging, interest rate risk management, and other liability-driven strategies. The successful candidate willalsoproactively develop, analyze, and present relative value opportunities across these markets to improve hedge efficiency, reduce long-term hedge cost, and manage downside risk. The Team The Quantitative Portfolio Management (QPM) team is part of Investment Management and focuses on asset-liability management (ALM), product pricing, and the formulation and execution of quantitative strategies that enhance policyholder surplus and mitigate unwanted risks across the enterprise. The team oversees derivative-related portfolio management activities, managing exposure to interest rates, equity markets, volatility, foreign exchange, and credit. QPM is a small, highly collaborative group that works closely with Enterprise Risk, Finance, Actuarial, Treasury, Accounting, Compliance, and Barings, MassMutual's global asset management subsidiary. The team manages risk across MassMutual's approximately$250 billionGeneral Investment Account (GIA) and supports the firm's most complex liability-driven portfolios. The Impact Own the overall performance and P&L of the Variable Annuity hedging program, including dynamic hedging, convexity management, and option strategy, with full accountability for hedge effectiveness and risk outcomes. Lead the design, oversight, and evolution of derivatives-based hedging strategies across equity, interest rate, and volatility markets within established governance frameworks. Collaborate closely withotherportfolio managers on day-to-day hedging operations, including equityoptionrebalancing and execution, providing strategic oversight and guidance as needed. Work closely with Annuity Products, Enterprise Risk Management,Corporate Actuarialand othermembersof the Variable Annuity Risk Committee, ensuring alignment on risk, economics, assumptions, and hedge outcomes. Partner with Quantitative Research & Development to define modeling, analytics, and tooling requirements, while QRD retains responsibility for implementation and production support. Work in close coordination with Barings as the execution and implementationteam, whileretainingall strategic decision-making, hedge design, and risk ownership internally. Contributederivativesexpertiseto adjacent portfolios, including macro equity hedging and interest rate risk programs, as priorities evolve. The Minimum Qualifications 10+ years of experience in derivatives portfolio management, hedging, or financial risk management, with meaningful focus on interest rate and volatility markets. Strong knowledge of interest rate and volatility derivatives, including swaps, swaptions, bond forwards, Treasury futures, total return swaps, and equity exchange-traded and OTC derivatives. Proven experience managing material financial risk within an insurance, asset management, or comparable institutional context across equity and/or interest rate derivatives. Demonstrated ability to own a program or initiative end-to-end within a governed institutional environment. Strong communicationand leadership skills, with the ability to convey complex risk topics to senior and non-specialist audiences. Strong quantitative background, including hands-on experience with analytics, scenario analysis,research,simulationand risk measurement; Python and/or SQLrequired. Bachelor's degree in Finance, Mathematics, Economics, Engineering, ora relatedfield. The Ideal Qualifications MBA from a leading institution preferred, reflecting the leadership, strategic thinking, and cross-functional skillsrequiredto own and grow a complex program. Alternatively, MFE,orPhD, combined withdemonstratedexperience owning risk, making trade‑offs, andoperatingwithin institutional governance frameworks. Direct experience with Variable Annuity hedging programs, including governance, risk committee reporting, and option budget management. Deepexpertisein interest rate volatility markets, including swaptions and relative value strategies across the yield curve. Strong understanding of asset-liability management principles in an insurance context. Professional certification (CFA, FRM). What You Can Expect at MassMutual MassMutual offers the opportunity to do meaningful work within a purpose-driven organization that values long-term impact over short-term outcomes. In this role, you can expect: Clear areas of ownership and accountability, with work that connects directly to company and customer outcomes A collaborative environment where perspectives are welcomed Access to learning, development, and internal networks that support continuous growth and skill-building over time Employee-led communities and forums that foster connection, learning, and inclusion across the organization A culture grounded in integrity, responsibility, and stewardship—supported by a company with a strong legacy and a future-focused mindset 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. California residents: For detailed information about your rights under the California Consumer Privacy Act (CCPA), please visit our California Consumer Privacy Act Disclosures (opens in new window) page. 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:

$176,400-$231,500