Head of Loan Asset Administration Center of Excellence

2 days ago

Springfield MA United States MassMutual Full time

We have an exciting transformational opportunity for a Head of Loan Asset Administration Center of Excellence (CoE) focusing on Bank Loan investment within Insurance General Account Portfolios. The team functions and collaborates alongside the Head of Transactions, as well as leads from other Center of Excellence in Public, Private, and Mortgage-Backed Securities. The Head of the Loan Asset Administration CoE has the unique opportunity to shape the development of the Operations organization by designing and establishing the Loan CoE; this includes strategizing operational best practices for Loan asset servicing, working closely with vendors/third party administrators, and championing change as the CoE model is introduced for this asset class.

This role offers an opportunity to lead over $35B Bank Loan portfolio operations end-to-end. In addition to establishing the center, the Head of Loan CoE’s remit also includes partnering with investment management, middle-office data management and technology teams; actively monitoring exposures; managing risk; and managing a team of specialists. This leadership role will set direction for the team, develop vision, influence refinement of operating model and processes, and be a subject matter expert for operational matters. The leader envisions development and execution of projects to scale, automating and streamlining processes within the CoE. Additionally, a critical responsibility of this leader is to manage resource planning and capacity analysis to use onshore and offshore teams on the effective delivery of objectives for the CoE.  

The position will report to the Head of Investment Management Operations. In this role, you will work with key stakeholders including affiliated and third-party asset managers, third-party administrative service providers, the controllership organization and the investment management leadership team.

The Impact

  • Establish and manage the CoE, including strategizing on COE operating model and COE best practice; determining key operating metrics; and using an outcome-based framework to measure ongoing performance and efficiency improvement

  • Serve as the internal SME on the Bank Loans operations, best practice, processing, and workflow, all while recognizing the bespoke nature of this complex asset class

  • Lead a direct and indirect team across multiple locations to monitor large book of Bank Loan securities positions and transactions and to provide cash match and reconciliations with MassMutual investment and accounting book of records. Allocate work amongst team and ensure critical deliverables are met on time and with quality / accuracy

  • Enable the team to provide seamless operational execution on cash and securities transaction processing on third party and affiliated managers’ transactions, exception resolution and query management; with a continuous eye on workflow, process and ways to improve the CoE operations.

  • Manage external bank loan administrator partners.  Serve as central point of contact for these parties, measuring performance vs. SLAs, suggesting improvements in servicing, etc. Collaborate with data team and third-party asset managers and service providers, escalating trade operational issues, problem solving, and driving improvements to process, interaction, and touchpoints

  • Drive 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

  • 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

MINIMUM QUALIFICATIONS

Bachelor's Degree in Finance, Accounting, Technology, or related field

10+ years’ investment operations, Finance /Accounting experience (ideally in bank loans, private finance equity or public securities structures)

 2+ years’ experience in portfolio accounting and administration

IDEAL QUALIFICATIONS

Demonstrated experience developing, leading and managing a diverse team, fostering a collaborative approach and strong partnership with a focus on attracting, developing and retaining talent

• Excellent problem-solving skills, excellent attention to detail, and a numerate, analytical approach are crucial

• Prior experience in fund level accounting with real estate accounting or software systems

• Strong written and verbal communication skills coupled with good commercial foresight Able to work effectively and collaboratively within a small, dedicated team but also a large local platform

• Ability to meet multiple deadlines leveraging cross-functional teams with little direct supervision

• Committed to delivering the highest quality work product. Self-motivated, hard-working and operates with a sense of urgency and a strong attention to detail

• Demonstrated ability to drive process improvement and efficiencies through innovation and collaboration with colleagues and service providers.

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.

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