Job Description

As the Head of Rating Agency Relations, you will work in a fast paced, innovative, and collaborative environment managing all aspects of the Rating Agencies framework for MassMutual.  This role will have the opportunity to lead a team that will:

Develop and implement a comprehensive framework to analyze actual and projected Insurance Financial Strength Ratings (IFS) from all major Rating Agencies, using new technology / automation and advanced analytical / modeling techniques

Be the expert on rating agency methodology to support the Company in enhancing our already strong Insurance Financial Strength Ratings, a key pillar to our strategy

Lead all aspects of the relationship with Rating Agencies, including regular communications, ad-hoc requests and annual review meetings, and serve as an advocate for the Company to influence Rating Agencies criteria, as needed

Identify and drive implementation of actions to manage risks to IFS Ratings arising from analysis of Rating Agencies’ criteria, working with the Head of Capital Management and Head of Debt Financing and Liquidity

This position will partner closely with the Executive Leadership Team and other teams like corporate development, corporate actuarial, tax, capital management, product management, debt management, reinsurance strategy and enterprise risk management.

This role is a unique opportunity for an individual with capital markets and financial planning expertise to lead a team with clear roles and objectives and contribute to the execution and governance of the company’s finance strategy.

The Team

The Head Rating Agency Relations is a member of the Treasury organization (direct report of the Treasurer) which is a dynamic team of individuals with diverse backgrounds that are focused on:

Maintaining a balance between high and sustainable returns for policyholders, and a strong capital position, while enabling MassMutual to take advantage of growth opportunities, within internal and external constraints
Understand actual and projected trends of financial metrics levels and develop strategies to improve financial performance and conditions
Minimizing time spent on production and data manipulation activities by transforming our modeling, analytic, and reporting capabilities and implementing automation and technology where possible

Team members will require a mix of accounting, actuarial, capital markets, rating agency and risk management expertise, as well as the ability to communicate effectively, working and influencing across the organization.

The Impact:

Drives implementation of rating agency methodology modeling & reporting, including developing standard metrics for management reporting (capital, profitability, leverage, liquidity and other rating agency financial and business metrics), on actual and forecasted basis for all major rating agencies (Moody’s, S&P, Fitch, A.M. Best)

Automates rating agency models to enable for timely reporting capabilities and what-if scenarios, including competitor’s analysis

Analyzes trends in rating agency metrics, anticipates changes and implements actions to mitigate risks to and/or enhance financial conditions, balancing internal views of capital and other financial and business profile ratios, working with the Head of Capital Management and Head of Debt Financing and Liquidity

Lead all aspects of the relationship with Rating Agencies, including regular communications, ad-hoc requests and annual review meetings, working with the Financial Communications team and various business areas

Proactively identifies risks and opportunities and translates that into strategic recommendations

Serves as expert in the various rating agencies’ frameworks so that the team can provide sound financial advice to the Treasurer, anticipating the financial statement impact of changes in the business environment and making recommendations to ensure appropriate processes are implemented and maintained

Establish and enhance internal controls and maintain and consistently improve upon a strong control environment

Proactively focuses on self and team development

The Minimum Qualifications

BS in accounting, actuarial science, finance, or a related field; FSA, MBA or equivalent preferred
Strong record of progressively responsible experience in capital markets/management, insurance, or risk management at large multinational financial companies (10 years +)
Significant knowledge and experience in statutory and rating agency capital, asset-liability management and hedging, asset allocation and derivatives, capital markets, life and annuity products and pricing, reinsurance, and M&A activity
Proven experience participating in management committees or industry / regulatory groups with proven experience interacting and influencing Rating Agencies
Expert knowledge in capital frameworks and balance sheet structuring

The Ideal Qualifications

Strong multi-tasking skills and ability to adapt to change
Ability to proactively take ownership of projects and drive them through to completion
Experience working in a Finance transformational setting; driving change and managing competing priorities
Ability to perform and lead a team to perform independent research and prepare analyses of the impact of transactions
Detail-oriented with demonstrated oral and written communication skills