Head of Model Risk Management

MassMutual•Springfield, MA

1d•Hybrid

About The Position

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 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.

Requirements

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

Nice To Haves

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

Responsibilities

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