Relationship Management Lead for Affiliated Investment Managers
Full-Time
Boston, MA, New York, NY or Springfield, MA
The Opportunity
MassMutual Investment Management (IM) is seeking a seasoned investment operations and relationship management professional to develop a new, customized oversight program and to lead the engagement model for MassMutual with our affiliated investment managers. The framework will draw from the existing Manager Oversight framework for the (3rd-party) external asset managers that MassMutual places capital with for the General Investment Account (GIA).
This role reports to the Head of Manager Oversight and will: Drive strategy and execution of a customized oversight program for affiliated investment managers. Align oversight practices with third-party manager programs and governance frameworks. Strengthen governance, transparency, and risk mitigation across investment operations. Develop and report on meaningful KPIs and KRIs to assess relationship health and performance. Provide qualitative assessments as to operating and oversight models' strengths, weaknesses and opportunities to capture efficiencies or better manage risks. This individual will report to the Head of Manager Oversight and manage a small, specialized team that collectively leads cross-functional efforts & interactions between our internal stakeholders and affiliated asset management units to strengthen governance and deepen the integration of operating models, while ensuring operational risks are made transparent, documented, assigned to accountable owners, monitored and effectively mitigated or managed.
The Relationship Lead will leverage their expertise and best judgment to guide effective decision-making by All, in MassMutual's best interests. They will serve as a steward of Investment Management's mission, executing on the collective vision for a refreshed and more deeply integrated Manager Oversight program. The role will frequently include reporting back to, and interacting with, senior Investment, Finance, Risk and Technology function leaders and c-level representatives within MassMutual and at our affiliates.
The Team
The Manager Oversight team is part of IM's Strategy and Governance organization which reports into MassMutual's CIO . The team is responsible for overseeing IM's asset manager relationships and functions that include manager operational due diligence, investment mandate onboarding & lifecycle management and investment performance.
Adjacent teams reporting to the head of IM Strategy and Governance are responsible for IM's business strategy and planning, vendor oversight, investment compliance and investment reporting for MassMutual's Board & Investment Committee.
Impact/Key Responsibilities
Lead strategic alignment of frameworks and engagement models for affiliated asset managers by developing annual and long-term commitments and goals for their respective programs Translate MassMutual and IM strategic goals and Head of Manager Oversight's vision, into actionable updates to the program and develop initiatives that support the evolution of MM's integrated operating models and their governance to more effectively manage risk while supporting scalable and efficient growth in the private and alternative investments spaces Represent and lead MassMutual teams through negotiations with affiliated and external asset managers on investment, governance, operational, risk, compliance and reporting requirements Lead and manage two full-time employees initially and foster development of the team's skills and capabilities to execute on strategy while focusing long-term, on identifying unique or holistic opportunities to improve efficiency, create value or better-manage risk Curate agendas and lead engagements with a focus on eliminating ambiguity as to ownership, accountability & next steps; ensure cross-functional efforts see measurable progress towards desired outcomes and that teams reach critical milestones Build and maintain strong relationships with internal and external manager investment teams and supporting function leaders; provide updates and report-back to Senior and Executive leadership groups Understand the GIA's asset allocation processes, ALM drivers, multi-asset class exposures, affiliated account structures and the key stakeholders and functions that support it Leverage commonalities across asset classes in working to standardize integration points while ensuring flexibility required to address unique concepts and risks in different markets, complex instruments or investment structures Identify and prioritize operational risks, process improvements, and data enhancements. Influence collaboration across investment, risk, finance, and technology teams Maintain a master inventory of relationship opportunities and track progress Develop and manage cross-functional SLAs and performance metrics that effectively measure the health of the overall relationship in management reporting The Minimum Qualifications Bachelor's degree (STEM, Economics or Accounting focus preferred) 10+ years of related business experience in financial services, banking or the insurance industry in roles responsible for: investment accounting/administration, financial reporting/audit, client service/relationship management, investment operational risk management/due diligence, or similar & related functions 3+ years working for an institutional asset manager or in an asset owner's (capital allocator's) investment office Prior management experience Demonstrated ability to understand how tasks and milestones connect across related department objectives Experience developing materials & presenting updates on efforts to senior leadership & stakeholders Outstanding verbal, written and interpersonal communication skills Understanding of the financial markets, capital formation and asset manager-client relationships Experience reviewing & interpreting investment agreements, servicing contracts & fee schedules High degree of integrity and ability to maintain confidentiality with business & organizational information Can work independently and remain focused in driving teams & projects to milestones while navigating ambiguity around less critical issues & items Is growth-minded, willing to learn new things, and is adaptable to an evolving environment Can identify and raise opportunities for process improvement and operational efficiency Proven ability to establish and maintain strong relationships with peers and key partners throughout the organization Comfortable working collaboratively across the organization and external managers in a complex, fast-paced, dynamic, and continually evolving business environment Exhibit high emotional intelligence The Ideal Qualifications STEM, Finance, Economics; Masters or related/higher degree Investment-finance industry certification (CFA, CAIA, FRM, CIPM, CIMA, CPA, or similar) Investment management administration or middle office experience (for a hedge fund or private asset manager, a plus) Skilled negotiator Experience working for/with an insurance co or ALM-LDI investment program(s) Proficient in designing controls & documenting risks for an investment organization Experience leading teams responsible for planning, execution and delivery of large strategic initiatives or investment transformation projects Experience owning key-controls within one or more investment functions and managing internal & external audit engagements Knowledge of investment ops risk frameworks and financial controls audit/assurance standards (best-practices) The ideal candidate will have technical and soft skills developed from experience leading new investment & business development activities, investment products and platforms, middle office and/or an administration, accounting or finance function for a large asset manager or investment organization
