Director of Collateral Management

The Opportunity

As the Director of Collateral Management Operations, our ideal candidate will lead a team of collateral analysts to successful execute the daily collateral management and derivative payment processes related to the MassMutual’s General Investment Account (GIA). Additionally, you will play a key role with our derivative system transformation and have significant interaction with our Program Management Office (PMO) and Enterprise Technology (ETX) partners. You will assist in leading, formulating and defining business and/or systems scope, requirements, and objectives as it relates to designing Derivative and Collateral operations, including cash and securities via SWIFT processing. You will also apply finance, investment accounting knowledge and other technical skills to provide oversight related to the current and future state needs of MassMutual.

The Team

The Director of Collateral Management Operations will report to the Head of Derivative Center of Excellence (CoE), part of MassMutual investment operations teams within the Investment Management Division. The team is responsible for the life cycle of Derivative Investments of MassMutual’s General Investment Account (GIA). The team will play a critical role with our multi-year strategic initiatives related to the transformation of MassMutual’s Derivatives and Collateral applications to support our Target Operating Model (TOM). The effort entails the implementation of one stop shopping for Derivatives, including a front, middle and back office solution. The team will also collaborate cross-functionally with Barings, Investment Management Front Office, Enterprise Risk Management, Compliance, and Controllership accounting teams to ensure we support MassMutual’s investment strategies.

The Impact:

• Effective communicator with internal and external stakeholders on collateral related matters
• Manage daily collateral movements including derivative variation margin and initial margin (cleared, regulatory and legacy), repo margining, FHLB etc.
• Manage daily cash disbursements related to Derivative trades, life cycle events, and coupon payments
• Develop the derivative and collateral operational functions within the Derivative Ecosystem, including implementation of derivative payment workflow and instruction using SWIFT
• Lead the collateral process with FHLB to ensure MassMutual’s borrowing capacity for contingent liquidity
• Responsible for managing aspects of complex transactions and new mandates as it relates to derivatives and collateral management
• Facilitates remediation of derivative and collateral operational issues, including Counterparty/Broker discrepancies
• Identify and implement opportunities for process improvement and automation to streamline manual processes and enhance efficiency
• Lead and mentor the collateral operations team, providing guidance and support to achieve the team and individual’s goals
• Assist with strategic initiatives and projects as the subject matter expert (SME) and provide business knowledge and requirements
• Develop, implement, and oversee the collateral management strategy, ensuring to align resources and efforts
• Directs staff in the development and implementation of departmental policies, procedures, and programs
• Manage data related to collateral, including tracking, reporting, and analysis, to support internal teams to manage counterparty risk and liquidity
• Lead the collaboration efforts with our strategic partners, such as front office, risk management, compliance/legal, and accounting, to ensure seamless coordination and alignment on current and new strategies
• Maintains MassMutual internal control standards, including timely implementation of internal and external audit points together with any issues raised by internal/external auditors as applicable

The Minimum Qualifications

• Bachelor’s degree in Finance, Accounting, Business Management, or other related field
• 6+ years of general investment and derivative experience including treasury operations experience
• 2+ years of supervisory experience

The Ideal Qualifications

• Investment operations experience with an Asset Management or Insurance Investment Management
• Knowledge in OTC and Exchange Traded Derivatives
• Understanding of collateral management principles, risk management, and regulations
• Understanding of the Investment Management process and the related data flows
• Finance and/or investment operations background
• Ability to work with investment data consumers to understand issues and recommend and execute solutions
• Demonstrated leadership of business analysis and data management
• Understanding of a wide range of asset classes and full end-to-end trade and data flows
• Strong collaboration skills and the ability to work in a team-based environment
• Excellent communication skills with ability to address and resolve conflicts diplomatically
• Familiarity with our internal and third-party systems: Calypso, Murex, AcadiaSoft, TriOptima, Bloomberg

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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.