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Head of Model Validations
MassMutual
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See open jobs at MassMutual.See open jobs similar to "Head of Model Validations" Mass Technology Leadership Council.Boston, MA, USA
Posted on Wednesday, August 23, 2023
Head of Model Validations
Boston, Massachusetts Actuarial Job ID R14130Head of Model Validations
Insurance, Product & Model Risk, Enterprise Risk Management
Full Time
Boston, MA or Springfield, MA
The Opportunity
As Head of Model Validations, you will work in a fast paced and collaborative environment, serving a key role in leading the team of specialists engaged in model validation activities critical to instilling confidence that model risk in the organization is well-understood and appropriately monitored and managed.
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 fit-for-purpose, i.e., conceptually sound and performing as expected, and, as trusted advisors, the team positively impacts the broader organization’s model risk management practices throughout model development, implementation and ownership lifecycles.
The Impact:
In this role you will develop relationships with key stakeholders across the organization who own models integral to critical business decision making, product pricing, financial reporting, risk mitigation activities and business processes, and you will establish and execute best-practice model validation activities, helping protect the company’s reputation through the appropriate management of risks associated with the use of these models.
Key responsibilities include:
- Fostering a strong model risk management culture throughout the organization and ensuring model risk is clearly understood and properly managed
- Directing team activities in providing effective challenge of modeling methodology and assumptions and working with model owners to improve model analytics and structure
- Directly participating in and guiding complex validations requiring broad business and industry knowledge and technical acumen
- Effectively communicating complicated concepts and model validation findings in layman’s terms and ensuring such findings are appropriately addressed
- Making expert recommendations to senior leaders on new models, major model enhancements and related risk issues
- Staying abreast of industry standard practices, trends and new regulations, and leveraging insights gained from validation engagements to enhance our model risk management practices in partnership with the Head of Model Governance
- Ensuring effectiveness of team design, evolving as appropriate to build and maintain critical skillsets and meet strategic needs
The Minimum Qualifications
- Bachelor's degree
- Fellow, Society of Actuaries
- 10+ years of experience in financial services
The Ideal Qualifications
- 5+ years of actuarial modeling experience
- Advance degree(s), such as CFA, CPA, MBA, PhD, etc.
- Extensive ALM, product pricing and valuation knowledge
- Track record of successfully leading a high-performing team
- Strong team player, able to work with individuals at all levels
- Proven communication skills, both written and verbal
- Able to quickly build relationships and influence stakeholders in driving effective business decisions and process improvements
What to Expect as Part of MassMutual and the Team
- Regular meetings with the Insurance, Product & Model Risk team
- Focused one-on-one meetings with your manager
- Access to mentorship opportunities
- Networking opportunities including 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
#LI-IZ1
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.
This job is no longer accepting applications
See open jobs at MassMutual.See open jobs similar to "Head of Model Validations" Mass Technology Leadership Council.