What are the responsibilities and job description for the Director, Mortgage Loans Administration Center of Excellence (CoE) position at MassMutual?
Director, Mortgage Loans Administration Center of Excellence (CoE)
Insurance General Account Portfolios
Full-Time
New York, NY, Boston, MA or Springfield, MA
The Opportunity
We have an exciting transformational opportunity for a Director, Specialized mortgage loan Securities Center of Excellence (CoE) managing specialized mortgage loan investments such as RWL, CML, & RTL within the Insurance General Account Portfolios.
The team functions alongside other Centers of Excellence in Mortgage, Public and Bank Loan Securities and has opportunities to contribute to the development of the Operations organization. This role offers an opportunity to be part of the team enabling administering over $250B of General Account (GA) portfolio operations end-to-end; through partnering with investment management, middle-office data management and technology teams; actively monitoring exposures; managing risk; and managing a team of specialists. Specialized mortgage loan credit investments makes up the a significant portion of the GA portfolio and has provided significant benefits to MassMutual for many years, both directly through ownership and indirectly through attractive lending opportunities that arise from these relationships. This leadership role will set direction for the team, contribute to the development of the vision, influence refinement of operating model and processes, and be a subject matter expert for operational matters. The Director plays a key role in the execution of projects to scale, automating and streamlining processes within the CoE. An additional critical responsibility is to manage resource planning and capacity analysis to utilize onshore and offshore teams to effectively deliver objectives for the CoE.
The position will report to the Investment Management Operations Head of Transactions CoE. In this role, you will work with key stakeholders including affiliated and third-party asset managers, third-party administrative service providers, controllership organization and the investment management leadership team. You must also have an ability to understand of accounting requirements at a high level related to trade classifications and treatment of assets within Accounting Book of Record downstream reporting and tax implications. You must also be able to understand cash clearing account reconciliation metrics at a high level. Lastly, you will be expected to become the subject matter expert for specialized mortgage loan securities processing with full ownership and a thorough understand of the end-to-end model.
The Team
The team you will be managing is spread across Boston, Springfield (MA) and New York, meaning you can be primarily based in any of these three locations, provided you are willing to travel to the other two as needed. The team also includes a substantial offshore component.
Investment Operations extends from relentlessly focusing on stakeholder satisfaction, to accelerating the adoption of automated, digital transaction processing and self-service tools. To this end, the team leverages technology and data to both reshape investment operational support and deliver differentiated stakeholder experiences.
The Impact
- Lead direct and indirect teams to monitor a large book of specialized mortgage loan investment positions and transactions and to provide cash match and positions reconciliations with MassMutual investment and accounting book of records
- Enable the teams to provide seamless operational execution on cash and securities transaction processing on third party and affiliated managers’ transactions, exception resolution and query management including reconciling positions
- Collaborate with data team and third-party asset managers and service providers, escalating trade operational issues and problem solving
- Participate in discussions with critical stakeholders and enablers, including Technology (ETX) to define operating model, enable improvement projects and initiatives, digitizing and automation efforts to improve operational performance
- Establish and manage the CoE with key operating metrics and utilize an outcome-based performance and efficiency improvement
- Monitor work queues and ensure critical deliverables are met on time and with quality
- Lead / Manage multiple business teams across multiple locations
- Cultivate and develop both associates and the direct management team
- Be the escalation / point of contact for the team and for broader investment management and operations team
- Manage external public bond administration partners and measure performance using service levels agreements
The Minimum Qualifications
The Ideal Qualifications
What to Expect as Part of MassMutual and the Team
LI-MM1
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 : $128,000 - $168,000
