MM

MM

Senior Quantitative Portfolio Manager

Boston, MA · Senior · Full-time

Sponsorship not specified$176k-$232kDetected 30 days ago
PythonSQLAccountingResearchLeadershipCommunicationActuarial ScienceCFA

About the role

  • 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 program represents the largest and most complex initial mandate, 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.

Responsibilities

  • The successful candidate will also proactively develop, analyze, and present relative value opportunities across these markets to improve hedge efficiency, reduce long-term hedge cost, and manage downside risk.
  • 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.
  • 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 implementation tea m, while retaining all strategic decision-making, hedge design, and risk ownership internally.
  • Demonstrated ability to own a program or initiative end-to-end within a governed institutional environment.

Requirements

  • In order to meet and exceed their expectations, we must have the best people providing the best thinking, products and services.
  • 10 + years of experience in derivatives portfolio management, hedging, or financial risk management, with meaningful focus on interest rate and volatility markets.

Compensation

  • 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.
  • A career with MassMutual means you will be part of a strong, stable and ethical business with industry leading pay and benefits.
  • $176,400-$231,500

Benefits

  • Lead the design, oversight, and evolution of derivatives-based hedging strategies across equity, interest rate, and volatility markets within established governance frameworks.
  • Collaborate closely with other portfolio managers on day-to-day hedging operations, including equity option rebalancing and execution, providing strategic oversight and guidance as needed.
  • Contribute derivatives expertise to adjacent portfolios, including macro equity hedging and interest rate risk programs, as priorities evolve.
  • 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.

Company info

  • 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 billion General Investment Account (GIA) and supports the firm's most complex liability-driven portfolios.
  • Work closely with Annuity Products, Enterprise Risk Management, Corporate Actuarial and other member s of the Variable Annuity Risk Committee, ensuring alignment on risk, economics, assumptions, and hedge outcomes.
  • The Minimum Qualifications
  • Strong communication and 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, simulation and risk measurement; Python and/or SQL required.
  • Bachelor's degree in Finance, Mathematics, Economics, Engineering, or a related field.
  • The Ideal Qualifications
  • MBA from a leading institution preferred, reflecting the leadership, strategic thinking, and cross-functional skills required to own and grow a complex program. Alternatively, MFE, or PhD, combined with demonstrated experience owning risk, making trade ‑ offs, and operating within institutional governance frameworks.
  • Direct experience with Variable Annuity hedging programs, including governance, risk committee reporting, and option budget management.
  • Deep expertise in 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

Equal opportunity

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