Senior Quantitative Portfolio Manager

MassMutual -
Boston, MA

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Job Details

Full-time
$176,400 - $231,500 a year

Benefits

Commuter assistance
Caregiver leave
Paid holidays
Health insurance
Dental insurance
401(k)
Tuition reimbursement
Paid time off
401(k) 10% Match
Bereavement leave

Qualifications

Budget management
Program management
Team leadership
Dynamic financial modeling
Managing budgets in a finance role
Hedging strategy implementation
Foreign exchange risk management
Developing investment risk management strategies
Data analytics tools
Simulation analysis
Portfolio risk management
Cross-functional collaboration
Cross-functional communication
Derivatives analysis
Scenario analysis

Full Job Description

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.

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

#LI-FT1

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 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

Award-Winning Culture

MassMutual is guided by a single purpose: We help people secure their future and protect the ones they love. As a company operated for the benefit of our members and participating policyowners, we are defined by mutuality and our vision to provide financial well-being for all Americans. It’s more than our company structure — it’s our way of life. We are a company of people protecting people. Our company exists because people are willing to share risk and resources and rely on each other when it counts.

We strive to build a thriving community where everyone is valued, included, and feels that they belong.

At MassMutual, we Live Mutual.

How We Work

MassMutual’s flexible workplace approach combines the importance of connecting in person and the flexibility of working remotely. Our hybrid model puts collaboration first with employees coming in at least three days per week to our spectacular campus settings and also enjoying the flexibility of remote Fridays, company-wide remote weeks, and a bank of flexible remote weeks to use throughout the year.

Benefits for the whole you (and your loved ones)

There’s more to your life than your job and there’s more to your aspirations than a paycheck. We take a holistic view of compensation and benefits that provides the flexibility to create a healthy balance in your life for work, family, and community. We offer the benefits you’d expect, like medical, dental, 401(k), and generous vacation time, but we also offer ones you might not expect, like three paid days for volunteering, a $1,250 annual Well-Being Wallet, and up to 320 hours of caregiver leave.

Explore some of our offerings below.

Paid Time Off

In addition to generous vacation time, paid holidays, and flexible holidays, MassMutual offers 'take care' time to care for yourself or someone you love—whether for physical illness or mental health.

Health & Well-Being

In addition to top-line medical and dental coverage, personalized mental health solutions, on-site and virtual health coaching, and much more, MassMutual reimburses employees up to $1,250 per year for eligible expenses supporting mental, physical, and financial well-being.

Financial Well-Being

In addition to competitive salaries and bonuses, educational assistance programs, and much more, MassMutual offers up to a 10% total 401(k) benefit, consisting of a 5% company match and a 5% annual contribution.

Taking Care

MassMutual offers generous maternity and parental leaves, as well as bereavement leave to mourn the loss of a loved one (and the employee defines 'loved one'). In addition, we offer up to 320 hours of caregiver leave to help employees support loved ones in times of need.

Giving Back

MassMutual offers three paid days for employees to volunteer with eligible nonprofits of their choice, and the MassMutual Foundation matches employee donation dollars to eligible nonprofit organizations up to $5,000 annually.

Commuter Benefits

MassMutual offers a Qualified Commuter Program through which eligible employees can pay qualified workplace commuting expenses with before-tax dollars, as well as a commuter wallet option for employees based at Boston and NYC campuses.

Apply Now

Overview

Job Description

Senior Quantitative Portfolio Manager

Full-Time

Boston, MA

Award-Winning Culture

How We Work

Benefits for the whole you (and your loved ones)

Paid Time Off

Health & Well-Being

Financial Well-Being

Taking Care

Giving Back

Commuter Benefits

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