Head of Risk Strategy

Head of Risk Strategy Location Boston, MA :

ROLE SUMMARY

As we navigate a number of emerging risks in a rapidly transforming industry, the importance of our strong risk management foundation has never been clearer. The CRO is seeking an exceptional, highly motivated, collaborative, experienced risk individual to lead Risk Strategy, assisting the CRO in high-level thought partnership to visualize, contextualize, and analyze the ERM operating environment and risk complexities, in order to ensure effective governance of current and evolving risks across the enterprise and the continued organizational maturity of the ERM function. This position will be expected to significantly contribute to complex risk analysis and discussions in support of the CRO both internally (with our most senior leaders) and externally (ex: Barings, Rothesay). This role presents a unique opportunity to develop an awareness of the functioning of ERM, as well as insights into risks across MassMutual's businesses.

Reporting to the Chief Risk Officer, this person will have the following areas of focus:

ERM Functional Effectiveness

• Facilitate the effectiveness of the ERM function, working with the CRO to coordinate ERM activities, collaborating with ERM SLT and other stakeholders as appropriate in deploying cross-functional resources; includes agenda and workplan management for Board, enterprise committees, offsites, division meetings, speaker series, lunch & learns; Incudes orchestrating collective engagement for cross-enterprise response to new risks, and the coordination/ aggregation of centralized summary reporting as needed
• Coordinate ERM engagement with regulators and rating agencies, preparing relevant material and engaging with ERM SLT as needed; maintain MassMutual's ORSA and ensure timely updates for annual filing
• Maintain and coordinate the ERM budget and financial plan
• Foster an engaged, collaborative and continuous development culture within ERM, seeking opportunities to engage SLT and associates; assist the CRO and SLT in maintaining organizational maturity.
• Assist in developing strategy, roadmap and change management for ERM to continue its transformation towards prioritized and automated access to risk data and analysis to align with MassMutual's strategic priorities; work to foster the continued development of data science, predictive analytics, and automation techniques and skills amongst SLT and associates.

Risk Governance:

• Assist CRO in maintaining risk culture and governance documents, ERM framework, charters, risk taxonomy, education and communication,
• Assist CRO in ensuring effective governance structure for all risks throughout the enterprise and its subsidiaries, maintaining awareness of the operation of governance frameworks (including risk oversight) at all MM entities, recommending and syndicating enhancements as needed; maintain risk dashboard for designated strategic entities,
• Support the CRO in analysis of M&A opportunities, coordinating engagement across ERM as needed,
• Develop and maintain a working knowledge of strategy, performance and risks of material MM subsidiaries and investments.
• Strengthen the risk culture at MassMutual by leading the development of risk communications, continuing to evolve the ERM Framework, as well as facilitating clear messaging of MassMutual risk management

Risk Stewardship:

• Collaborate with the various other ERM teams as well as business partners to ensure effective stewardship of assigned risks, currently including talent and sustainability/ESG risks, acting as second line risk steward and developing insights to inform strategic business decisions, as appropriate.

IMPACT OF THIS ROLE

• Ensures the smooth running of recurring risk function activities, championing required evolution, upskilling and automation; acts as risk steward for cross functional risks as appropriate; assists the CRO in ensuring effective risk governance throughout the MassMutual enterprise.
  • Drives the execution of ERM's strategy and roadmap, including the mapping out of the maturity of the risk oversight over all parts of the enterprise, and developing and executing effective risk education
  • Ownership of regulatory reporting, planning and secretariat for designated committee agendas and planning and coordination of Board risk topics
  • Maintains and further develops the consolidated risk frameworks for talent risk, sustainability risk as well as the risks in MassMutual's strategic investments to result in insightful recommendations for the business and risk management by applying business acumen, trend analysis, and deep thought to critical risk issues.
  • Presents conclusions and ensures buy-in by using the most effective, concise and visual methods, at all levels, including at the Enterprise Risk Committee
  • Ensures robust risk governance of all entities
  • Inspires others with a continuous focus on development and the effectiveness of ERM in enabling MassMutual to achieve its strategy.

To do this, it is expected that you will:

• Inspire and motivate ERM colleagues to succeed in the function's key priorities
• Quickly establish credibility with a wide range of stakeholders
• Proactively collaborate with other teams in ERM as well as in the business lines
• Be a committed team player

• Inform and influence others appropriately, clearly and on a timely basis
• Adapt and thrive in complex, uncertain and changing situations
• Listen actively, and challenge yourself and others to think about all angles of the issue
• Quickly self-educate on new topics with less familiarity
• Have interest in a wide range of business issues

CANDIDATE QUALIFICATIONS

• Deep risk expertise within the insurance industry, including a clear understanding of risk measurement frameworks, taxonomy and related risk management techniques and tools
• Superior communication skills, both verbal and visual
• Strong analytical and problem-solving skills, including ability to drill down on details, perform analyses, resolve issues and distill findings into a concise summary of key conclusions and recommendations
• 10+ years of insurance/risk experience
• Project management experience preferred
• Bachelors degree and risk certifications preferred

WORK LOCATION:

Boston or Springfield (with regular travel to the other location)

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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.