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MassMutual Head of Forecast Model Development in Boston, Massachusetts

The Opportunity

The Head of Forecast Model Development will lead a newly created team responsible for enhancing our forecast models in support of the company’s financial forecast and will report to the Head of Financial Visualization and Model Development. The Head of Forecast Model Development will build and lead a small team and will partner closely with other teams, including but not limited to Financial Planning & Analysis’ FinX Forecaster development team, Treasury, and Expense Management, Corporate Actuarial’s Liability Projections and Inforce Management team, Investments, Controllers and Enterprise Risk Management to enable more robust modeling / scenario analysis, allow for better attribution and explanation of forecast results, ensure that our models are maintained / well-documented / compliant with enterprise model documentation / validation standards. The role requires financial projection and analytical expertise with life insurance and annuity products.

The Team

The Financial Visualization and Model Development team resides within Financial Planning and Analysis and is composed of professionals with diverse backgrounds in finance, consulting, technology and data analytics, among other disciplines. The Financial Visualization and Model Development team is working on building cutting-edge analytical capabilities and reporting solutions that drive business value by delivering visual dashboards and improved forecasting abilities in a seamless manner to MassMutual leadership.

The Impact

What Great Looks Like

This leader will exhibit strong leadership and communication skills in all aspects of this role ranging from presenting to management, interacting with internal and external stakeholders, to managing own team. This leader will demonstrate the ability to develop sound projection methodologies and assumptions, efficient processes, and robust modeling capabilities to effectively deliver timely and insightful results. Additionally, this leader has a history of socializing and gaining adoption for newly developed or enhanced models including excellent model validation scores and documentation. Lastly, this individual will be proactive in developing team vision & strategy, driving continuous improvement of our projection capabilities, and executing on projects effectively. This leader will play a key role in actively managing team performance and developing talent within the Financial Planning & Analysis department at MassMutual.

The Key Objectives and Impact

Leadership, Culture and Engagement: Consistently drive continuous improvement mindset and foster inclusive and engaging team culture

  • Exhibits passion, curiosity and pursue learning opportunities. Takes ownership of professional development of self and team.

  • Drive collaborative solutions and results by seeking and valuing diverse backgrounds, experiences and perspectives, and driving execution.

  • Maximize team effectiveness by driving a compelling vision & strategy, managing priorities effectively and adapting quickly to achieve goals.

  • Earn confidence and trust by demonstrating ownership, commitment, and follow-through in achieving results

  • Displays transparency and open communication as a norm with team, peers, and stakeholders

  • Give employees opportunities to learn and grow; and help them identify the right developmental actions to help them improve

  • Create an environment where the team is inspired, engaged, and motivated to deliver quality work and continuously improve capabilities

Projections Methodology, Data and Model Management: Interpret, develop and implement projection methodologies, ensure appropriate usage of input and output data, as well as model management

  • Develop vision and roadmap to effectively implement enhanced forecasting capabilities and streamline production processes

  • Perform or lead others through analysis and implementation of projections issues, providing financial impact analysis and recommendations for action

  • Prepare and effectively communicate models and financial information to various customers, demonstrating strong understanding of the drivers of the results

  • Apply knowledge of assets, insurance products, and financial risk drivers in developing practical and reasonable solutions to address projection issues, including model limitations

  • Work directly with ERM and various audit stakeholders to demonstrate compliance with model governance and validation standards

  • Create best in class model testing procedures and documentation of methodology and results

  • Lead team on development, analysis and enhancement of projection models through partnering effectively with the modeling team.

  • Ensure effective application of projections model governance framework, including process efficiency, control effectiveness, actuarial assumption/model change management, etc.

  • Incorporate new requirements into forecast projections process as needed

  • Continuously improve models to enhance precision of forecast results

  • Work with FinX Forecaster development team by developing prototypes and performing user acceptance testing to ensure that models are effectively deployed in FP&A’s forecasting tool.

  • Collaborate with ETX Data Science teams to explore and prototype advanced models using data science techniques to improve predictive capabilities

  • Establish strong relationships and trust with all stakeholders

The Minimum Qualifications

  • Bachelor’s Degree or higher

  • Minimum of 10 years of modeling experience in valuation, pricing, asset modeling, financial planning, and/or in financial risk management

  • Minimum of 5 years of exposure to financial statements under US Statutory and GAAP reporting

  • Experience in management of small teams

  • Continuous improvement mindset

  • Strong working knowledge of modeling techniques

  • Strong working knowledge of US insurance products

  • Strong communication skills, both written and verbal, with experience in presenting to senior management

  • Ability to build and maintain strong working relationships across cross-functional groups

  • We are seeking someone with strong technical and leadership skills with proven experience in overseeing financial modeling/reporting processes and communicating results

The Ideal Qualifications

  • Designation, licensure or certification in one of the following: Fellow of the Society of Actuaries, Certified Public Accountancy, or Chartered Financial Analyst

  • Experience with leading teams through change management, driving continuous improvement and developing talent

  • Demonstrated ability to build and maintain strong working relationships across cross-functional groups and to proactively resolve issues

  • Strong knowledge of life, annuity, and health products, financial statements, and modeling methodologies

  • Experience with Anaplan

  • Experience with modeling in a SIFI organization with best practice model development, documentation and implementation

LI-IZ#

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 (talentacquisition@massmutual.com) and share the specifics of the assistance you need.

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.

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