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MassMutual Head of CECL Credit Analytics in Boston, Massachusetts

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OVERALL RESPONSIBILITIES:

The Head of CECL Credit Analytics will be a leader within Enterprise Risk Management and important part of the Corporate Finance, Enterprise Risk and Investment Management ecosystem with a particular focus on coordinating and improving financial reporting analytics for credit loss reserves associated with certain financial assets within scope of US GAAP accounting standards, notably including Current Expected Credit Losses, or CECL. This leader will possess deep knowledge and expertise in CECL and will be a key stakeholder in a highly visible cross-functional team influencing confidence and trust from stakeholders and team members through accountability, collaboration, and communication. This role is an opportunity to lead cross-functional efforts to enhance our governance and analysis related to calculating and measuring the sensitivity of the CECL allowance associated with MassMutual’s investment portfolio.

Responsibilities will include:

  • Ownership of the CECL calculation engine for all in-scope assets, ensuring alignment with enterprise audit and model validations standards and including understanding and proposing improvements to platform configurations and calculation methodologies

  • Coordination of the analysis as part of the CECL allowance process

  • Coordination with stakeholders and owners of sub functions within the CECL process, including Controller’s office, credit model owners within Investment Management and Enterprise Risk Management, Enterprise Technology, and Investment Operations

  • Oversee CECL model development and assessment of key assumptions such as portfolio segmentation, CECL methodology, forecast period, rate studies, and other inputs that go into the model.

  • Advise executive leadership on credit loss methodologies and changes in loan loss reserves.

  • Implement and monitor the quantitative models used for expected credit loss estimation,

  • Perform in-depth analysis, including trends, variances, macro-variable scenario impact, etc. for the CECL reserve process.

  • Perform scenario analysis, estimating the effects of changes in forecasts and assumptions on expected credit losses on an ongoing basis.

  • Own and manage CECL model and process documentation, consistent with internal Model Governance Policies and Procedures.

  • Collaborate with and assist financial risk management, advisory, and audit engagement teams related to expected credit loss implementations

  • Develop and maintain a comprehensive understanding of the organization's investment portfolio, risk profile, and financial reporting processes

  • Maintain a matrix of in-scope asset classes, selected allowance methodologies, and applicable underlying credit model(s) used

  • Maintain documentation of portfolio data assumptions and collaborate with the investment data and technology teams for incorporation into the process

  • Analyze and document allowance results, including attribution

  • Provide subject matter expertise on CECL-related issues, including providing guidance to management and other team members on the interpretation and application of the standard, in close partnership with the accounting policy team

  • Stay current on industry developments and best practices related to CECL and provide recommendations for continuous improvement of the organization's CECL-related processes and controls

  • In collaboration with cross-functional stakeholders, produce allowance stress testing and sensitivity analyses across the in-scope asset classes

  • Lead cross-functional governance committee to obtain approval of results

  • Collaborate with credit model owners to ensure appropriate model documentation and processes

  • Collaborate with the corporate technology team to ensure systems incorporate appropriate data inputs/assumptions

  • Collaborate with areas of controllership on recurring financial reporting implications and audit requests, as needed

  • Develop and enhance dashboards and reports that synthesize analysis and together with the controller’s office, provide senior management with relevant insights and recommended actions, as appropriate

  • Conceive and execute complex projects across multiple teams, applying change management, influencing and communication skills

  • Support the controller’s team with external auditors to support the annual audit process, including the review of CECL-related disclosures and documentation

  • Perform ad-hoc analysis and special projects as needed

MINIMUM QUALIFICATIONS:

  • A minimum of ten years of experience in loss forecasting, risk modeling, financial services, structured finance, credit risk, or corporate finance

  • Bachelor's degree in a quantitative field from an accredited college/university

  • Experience with allowance for loan loss accounting, credit loss and risk modeling

  • Prior experience in implementing and managing a credit loss measurement and analysis process

  • Extensive experience in developing and applying credit frameworks to drive strategic decisions

  • Superior analytical and strategic thinking skills

  • Solid knowledge of financial modeling and simulation techniques

  • Well established record of successful influence, project management and on-going personal development Success leading and working collaboratively in a heavily matrixed environment.

IDEAL QUALIFICATIONS:

  • Experience in using Moody’s Analytics Impairment Studio

  • CPA and/or CFA

  • Advanced degree in Finance, Econometrics, Statistics, Mathematics, Physics, or another quantitative discipline

  • Knowledge of the Current Expected Credit Losses (CECL) accounting standard desirable

  • In-depth knowledge in implementing CECL requirements and best practices, as well as relevant accounting standards (e.g., GAAP) a plus

  • Excellent analytical, problem-solving, and decision-making skills

  • Understanding of the insurance industry is desirable

  • Well established record of project management capabilities

  • Strong executive communication and presentation skills

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.

Salary Range: $159,800.00-$209,700.00

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