Senior Quantitative Portfolio Manager
Full-Time
Boston, MA
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 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.
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.
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.
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.
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.
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
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MassMutual is an equal employment opportunity employer. We welcome all persons to apply.
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