MassMutual Financial Group Leader – Municipal Guaranteed Investment Contract (Muni GIC) Underwriting & Relationship Management in Boston, Massachusetts
Since 1851, MassMutual’s commitment has always been to help people protect their families, support their communities, and help one another. This is why we want to inspire people to Live Mutual. We at MassMutual value diversity and inclusion. We’re people helping people.
A career with us means you will work alongside exceptional people and be empowered to reach your professional and personal goals. Our employees are the foundation of what makes MassMutual a strong, stable and ethical business. We seek and value unique and varied perspectives and experiences because we believe we are stronger when all voices are heard. We invite you to bring your bright, innovative ideas to MassMutual as we continue to help millions of Americans rely on each other.
Together, we’re stronger.
This person will be responsible for the leadership of our New Business Muni GIC bidding, underwriting and risk analysis processes.
This position will support the growth and development of our Muni GIC business (which is new to MassMutual). The incumbent will be leading the implementation and practice of our Muni GIC front-end bid system and closed block business acquisition process. This includes business development, underwriting, rating and risk analytics. In addition, this person will actively support and participate in the infrastructure build and management across the funding agreement business.
This experienced person will be instrumental in executing the growth and risk analysis for our Muni GIC Business. This growth will originate from individual Municipal Bond Offerings and from Closed Blocks acquisitions. The Muni GIC and FABN business contributes significant earnings for the Institutional Solutions Business and is currently servicing $8 billion in customer liabilities. This position requires an entrepreneurial mindset and self-direction. This fast-paced position requires incumbent to act in a strategic capacity while simultaneously operating on underlying risk and analytic details driven by growth opportunities. The ability to collaborate and execute across multiple areas of the business and enterprise is a significant success factor for this position. A firm experienced understanding and practice within the debt, bond and or capital markets is critical.
New business underwriting, rating and bidding will consist of individual bids between $10 million and $100 million. This person will also lead the process to underwrite and bid on closed block opportunities which may consist of bids between $100 million and $1billion.
Ideal candidates will have the skills and experience necessary to:
Lead the new business bid function for Muni GIC Business
Underwrite and analyze all new Muni GIC bid opportunities (including bids, bond indentures and Muni GIC contracts)
Develop bid rates for all new opportunities utilizing established/approved pricing models
Communicate results of Muni GIC business to matrix partners
Engage with Treasury, Actuarial, Valuation and others to advance knowledge and support of the business
Develop relationships with Municipal Advisors to increase bid opportunities. Prospect, develop, generate and follow-up on new client leads to build a book of business.
Travel as needed
May be asked to perform other duties and special projects which aid and support the overall growth and management of MassMutual’s funding agreement business.
Applicants should understand local government operations and issues. Be familiar with structuring taxable or tax-exempt municipal debt issues. A combination of education and experience may meet job requirements (for example CFA preferred)
Ability to identify, structure and manage transactions from origination to completion
Strong knowledge of municipal finance
Proven ability to develop investment solutions at an insurance company, investment manager or similar firm
Ability to work collaboratively across the enterprise to educate, partner and solve problems with associates representing disciplines including, finance, actuarial, legal, marketing and risk
Excellent analytical, quantitative, communication, inter-personal skills and negotiating skills
Ability to clearly and succinctly express complex financial concepts both verbally and in writing
Superior expertise in managing multiple project-oriented tasks with strong attention to detail
Ability to work independently while being collaborative and highly team-oriented
Advanced working knowledge of Microsoft Excel, PowerPoint and Word
Ability to lead and train less experience level staff
Ranked No. 77 in the annual FORTUNE ® 500 Ranking (FORTUNE ® Magazine, June 2017) and recognized as a World’s Most Ethical Company by Ethisphere, MassMutual is guided by a single purpose: We help people secure their future and protect the ones they love. As a company owned by our policyowners, we are defined by mutuality and our vision to put customers first. It’s more than our company structure – it’s our way of life. We are a company of people protecting people. Our company exists because people are willing to share risk and resources, and rely on each other when it counts. At MassMutual, we Live Mutual.
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Value People: We respect and learn from each other’s diverse backgrounds, experiences and ideas. We engage and develop people to their greatest potential.
Work Collaboratively: We work together to achieve results by actively listening, seeking, understanding and creating solutions as a unified team driving toward one company, one culture, one brand.
Achieve Results: We focus on winning by exceeding expectations and getting better – everyone, every day.
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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.
At MassMutual, we’re fostering an inclusive and dynamic environment where our employees are valued for who they are and can build successful careers. For us, diversity and inclusion is more than a goal, it’s the only way forward.
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