Quantitative Derivative Portfolio Manager

Quantitative Credit/Derivative Portfolio Manager
Quantitative Portfolio Management Team
Full-Time
Boston, MA
The Opportunity:
The Quantitative Credit/Derivative Portfolio Manager will be responsible for Credit hedging across the MassMutual General Investment Account. This includes performing daily portfolio management activities, such as rebalancing risk and evaluating tactical relative-value tradeoffs, while also contributing to the research of alternative hedging strategies employing simulation and back-testing techniques. The Quantitative Credit/Derivative Portfolio Manager will work closely with teams across Investment Management, Barings, Enterprise Risk, Corporate Finance, and Strategic Distribution.
The Team:
The Quantitative Portfolio Management (QPM) team has primary focus in asset-liability management (ALM), product pricing, and the formulation and execution of quantitative strategies that enhance policyholder surplus and mitigate unwanted risks in the portfolio. The team oversees all derivative-related aspects of MassMutual's portfolio management process, managing exposure to interest-rates, foreign exchange rates, Credit spreads, volatility, and equity. A small and highly collaborative team, QPM works with other groups across Investment Management to manage MassMutual's product portfolios and the approximately $250 billion General Investment Account (GIA). In addition, this high-profile group works with our other internal stakeholders including product, actuarial, treasury, accounting, risk, compliance, and external partners, including our primary asset management subsidiary Barings and the major Wall Street derivative broker/dealer counterparties.
The Impact:
The Quantitative Credit/ Derivative Portfolio Manager will be accountable for the following:
* Responsible for daily portfolio management activities like execution of new hedges, roll of existing ones, and trade input as well as review of current risk, recent activity, attribution, profit and loss, and modeling of credit exposure in different portfolios
* Identify market opportunities, analyze alternative hedging strategies, propose and implement frameworks for relative value positioning, and suggest transactions, to increase hedge effectiveness for portfolio management
* Lead bespoke simulation, back-testing and/or other research projects
* Collaborate with colleagues in other areas of MassMutual as needed - enterprise risk, corporate actuarial, finance and accounting, etc.
The Minimum Qualifications:
* 7+ years of derivative market experience in at least one of the following: listed and OTC equity options, TRS, futures/forwards, CDX, interest rate swaps/swaptions, and cross- currency swaps
* 7+ years of market expertise in fixed income portfolio management, with exposure to structured & private credit
* Bachelors in Math, Financial Engineering, Computer Science or related field
The Ideal Qualifications:
* 10+ years of derivative market experience
* Advanced quantitative degree (MFE, PhD)
* Strong background/understanding of capital markets and financial instruments
* Strong quantitative expertise: statistics, mathematics, and computer science (python / SQL required)
* Ability to develop market views in Credit and Fixed-Income
* Strong understanding of portfolio management and ALM
* Deep knowledge of derivatives in all dimensions - risk, economics, tax, accounting
* Strong background/understanding of capital markets and financial instruments
* Strong understanding of portfolio management and ALM in a life insurance company
* Strong communication skills and ability to convey technical topics to non-experts
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 stewardships - 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.
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