Head of Model Risk Management

MassMutual; Springfield (MA); On-site; USD 220,000 - 380,000; Full time

Job summary

MassMutual is seeking a Head of Model Risk Management in Massachusetts. This leadership role directs the enterprise model risk framework, advising senior management on key model risks and ensuring models are fit for purpose and well governed.

The ideal candidate is an actuary with deep technical depth, business judgment, and collaboration skills, leading governance, validation, and regulatory engagement across pricing, valuation, financial reporting, risk management, data science, investments,

Qualifications

• Bachelor’s degree in actuarial science, statistics, mathematics, physics, data science, or another quantitative field.
• Fellow of the Society of Actuaries (FSA) credential.
• 10+ years of financial services experience with actuarial, financial, risk, or product models.

Responsibilities

• Lead MassMutual’s enterprise model risk management program.
• Own and improve model risk policies, validation methods, inventory, and issue management practices.
• Develop and implement AI tool strategy for model risk effectiveness.
• Set risk-based validation plans and complete independent validations.
• Ensure auditability and alignment with governance requirements.
• Lead senior leadership reporting on model risk exposures and remediations.
• Build and coach a high-performing model risk team.
• Partner with ERM and business teams to strengthen model risk culture and controls.
• Monitor regulatory, industry, and analytical developments and translate into governance improvements.

Education

Bachelor’s degree in actuarial science, statistics, mathematics, physics, data science, or another quantitative field

Fellow of the Society of Actuaries (FSA)

Job description

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, andstewardship—supported by a company with a strong legacy and a future‑focusedmindset

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

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