Head of Model Risk Management

Head of Model Risk Management

Model Risk Management, Enterprise Risk Management

Full Time

Boston, MA or Springfield, MA

The Opportunity

Models inform critical decisions across strategy, risk, finance, product, and capital. As MassMutual expands its use of advanced analytics, artificial intelligence, and quantitative models, strong model risk management is essential to sound governance and responsible growth.

The Head of Model Risk Management will lead MassMutual’s enterprise model risk framework and advise senior management on key model risks. This leader will help ensure models are fit for purpose, well governed, and aligned with regulatory expectations and risk appetite.

This role is ideal for an actuary who brings technical depth, sound business judgment, and strong collaboration skills. The successful candidate will lead model governance, validation, and regulatory engagement while helping business partners make clear, risk-informed decisions.

The Team

The Model Risk Management team provides enterprise model governance, oversight, validation, and monitoring to support sound model use across MassMutual.

The Impact:

You will set the direction for model risk management and help protect MassMutual’s reputation and financial strength. You will partner with senior stakeholders and model owners to oversee models used in pricing, valuation, financial reporting, risk management, data science, investments, and capital. You will also ensure quality and consistency of independent validations.

This is a high-impact opportunity for a collaborative, business-minded actuary with strong analytical judgment and leadership skills.

Key responsibilities include:

• •Lead MassMutual’s enterprise model risk management program
• •Own and improve model risk policies, standards, validation methods, inventory expectations, and issue management practices
• •Develop and implement the strategy for AI tool use in ensuring the effectiveness and efficiency of model risk management
• •Set risk-based validation plans and complete timely independent validations
• •Ensure consistency, auditability, and alignment with governance requirements
• •Lead reporting to senior leadership on model risk exposures, emerging risks, and remediations
• •Build, coach, and develop a high-performing team of model validation and model risk professionals
• •Partner with Enterprise Risk Management and business teams to strengthen model risk culture, controls and accountability
• •Monitor regulatory, industry, and analytical developments and translate them into practical governance improvements

The Minimum Qualifications

• •Bachelor’s degree in actuarial science, statistics, mathematics, physics, data science, or another quantitative field
• •Fellow of the Society of Actuaries (FSA)
• •10+ years of financial services experience, including significant work with actuarial, financial, risk, or product models
• •5+ years of experience presenting complex topics to senior leaders, committees, auditors, or regulators
• •5+ years of experience influencing strategy or senior decision-making

The Ideal Qualifications

• •5+ years of hands-on actuarial modeling experience, such as model development, implementation, validation, governance, assumption-setting, or model risk management
• •5+ years of people leadership
• •Strong understanding of models used in ALM, pricing, valuation, capital, risk measurement, or financial reporting
• •Strong communication and collaboration skills, with the ability to explain complex topics and build trusted partnerships
• •Familiarity with model risk regulatory guidance, including expectations for artificial intelligence
• •Sound business judgment and the ability to provide constructive challenge while maintaining strong relationships
• •Strong operating discipline and ability to manage competing regulatory, business, and governance priorities
• •Ability to lead through ambiguity and drive accountability across business areas
• •Experience leading an enterprise risk management function or materially contributing to a mature risk governance program

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

#LI-LC1

Salary Range:

$185,300-$243,100

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.

Why Join Us.

We’ve been around since 1851. During our history, we’ve learned a few things about making sure our customers are our top priority. In order to meet and exceed their expectations, we must have the best people providing the best thinking, products and services. To accomplish this, we celebrate an inclusive, vibrant and diverse culture that encourages growth, openness and opportunities for everyone. A career with MassMutual means you will be part of a strong, stable and ethical business with industry leading pay and benefits. And your voice will always be heard.

We help people secure their future and protect the ones they love. As a company owned by our policyowners, we are defined by mutuality and our vision to put customers first. It’s more than our company structure – it’s our way of life. We are a company of people protecting people. Our company exists because people are willing to share risk and resources, and rely on each other when it counts. At MassMutual, we Live Mutual.

MassMutual is an equal employment opportunity employer. We welcome all persons to apply.

If you need an accommodation to complete the application process, please contact us 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. For more information about our extensive benefits offerings please check out our Total Rewards at a Glance.