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Market Risk Governance Lead [Multiple Positions Available]
Manhattan, NY · On-site
$191.92K - $238K/yr
Provide quantitative expertise and guidance to Quantitative Research, Policy, and Project ... Job Location: 237 Park Ave, New York, NY 10017. Full-Time. Salary: $191,922 - $238,000 per year.
Market Risk Governance Lead [Multiple Positions Available]
Manhattan, NY · On-site
$191.92K - $238K/yr
Provide quantitative expertise and guidance to Quantitative Research, Policy, and Project ... Job Location: 237 Park Ave, New York, NY 10017. Full-Time. Salary: $191,922 - $238,000 per year.
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Manhattan, NY · On-site
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Provide quantitative expertise and guidance to Quantitative Research, Policy, and Project ... Job Location: 237 Park Ave, New York, NY 10017. Full-Time. Salary: $191,922 - $238,000 per year.
Full Time Risk Quant information
See salary details
$98K - $112.7K
15% of jobs
$112.7K - $127.4K
7% of jobs
$132K is the 25th percentile. Wages below this are outliers.
$127.4K - $142K
9% of jobs
$142K - $156.7K
14% of jobs
The median wage is $163.4K / yr.
$156.7K - $171.4K
12% of jobs
$171.4K - $186.1K
14% of jobs
$192.1K is the 75th percentile. Wages above this are outliers.
$186.1K - $200.8K
12% of jobs
$200.8K - $215.5K
7% of jobs
$215.5K - $230.1K
5% of jobs
$230.1K - $244.8K
5% of jobs
$244.8K - $259.5K
0% of jobs
$98K
$169.7K
$259.5K
How much do full time risk quant jobs pay per year?
What is the difference between Full Time Risk Quant vs Quantitative Analyst?
| Aspect | Full Time Risk Quant | Quantitative Analyst |
|---|---|---|
| Required Credentials | Advanced degrees in finance, mathematics, or related fields; certifications like CFA or FRM | Similar educational background; often CFA or FRM beneficial |
| Work Environment | Financial institutions, risk management teams, trading floors | Investment banks, asset management firms, hedge funds |
| Employer & Industry Usage | Primarily in risk management departments within finance | Across various finance sectors including trading, investment analysis |
| Comparison Search Intent | Understanding risk-focused roles in finance | Analyzing financial data and models for investment decisions |
Full Time Risk Quants focus on assessing and managing financial risks using quantitative models within risk management teams. Quantitative Analysts, while similar, often have a broader role in developing models for trading, investment strategies, or financial analysis. Both roles require strong quantitative skills and relevant certifications, but their primary focus and work environments differ slightly.
Senior Quantitative Portfolio Manager
Massachusetts Mutual Life Insurance Company (MassMutual)Boston, MA • On-site
Full-time
Posted 13 days ago
MassMutual rating
8.1
Based on 33 frontline employees who took The Breakroom Quiz
131st of 259 rated insurance
Job description
Full-Time
Boston, MA
The Opportunity
The Senior Quantitative Portfolio Manager will oversee broad derivatives responsibilities across equity, interest rate, and volatility risk management, leading the strategic construction and evolution of derivatives-based hedging frameworks - with primary ownership of MassMutual's Variable Annuity dynamic hedging platform - and carrying end-to-end accountability for hedge design, governance, risk outcomes, and program-level P&L across market environments.
While the Variable Annuity program represents the largest and most complex initial mandate, this role is designed to add value across multiple portfolios and risk programs over time, including macro equity hedging, interest rate risk management, and other liability-driven strategies.
The successful candidate will also proactively develop, analyze, and present relative value opportunities across these markets to improve hedge efficiency, reduce long-term hedge cost, and manage downside risk.
The Team
The Quantitative Portfolio Management (QPM) team is part of Investment Management and focuses on asset-liability management (ALM), product pricing, and the formulation and execution of quantitative strategies that enhance policyholder surplus and mitigate unwanted risks across the enterprise. The team oversees derivative-related portfolio management activities, managing exposure to interest rates, equity markets, volatility, foreign exchange, and credit. QPM is a small, highly collaborative group that works closely with Enterprise Risk, Finance, Actuarial, Treasury, Accounting, Compliance, and Barings, MassMutual's global asset management subsidiary. The team manages risk across MassMutual's approximately $250 billion General Investment Account (GIA) and supports the firm's most complex liability-driven portfolios.
The Impact
- Own the overall performance and P&L of the Variable Annuity hedging program, including dynamic hedging, convexity management, and option strategy, with full accountability for hedge effectiveness and risk outcomes.
- Lead the design, oversight, and evolution of derivatives-based hedging strategies across equity, interest rate, and volatility markets within established governance frameworks.
- Collaborate closely with other portfolio managers on day-to-day hedging operations, including equity option rebalancing and execution, providing strategic oversight and guidance as needed.
- Work closely with Annuity Products, Enterprise Risk Management, Corporate Actuarial and other members of the Variable Annuity Risk Committee, ensuring alignment on risk, economics, assumptions, and hedge outcomes.
- Partner with Quantitative Research & Development to define modeling, analytics, and tooling requirements, while QRD retains responsibility for implementation and production support.
- Work in close coordination with Barings as the execution and implementation team, while retaining all strategic decision-making, hedge design, and risk ownership internally.
- Contribute derivatives expertise to adjacent portfolios, including macro equity hedging and interest rate risk programs, as priorities evolve.
The Minimum Qualifications
- 10+ years of experience in derivatives portfolio management, hedging, or financial risk management, with meaningful focus on interest rate and volatility markets.
- Strong knowledge of interest rate and volatility derivatives, including swaps, swaptions, bond forwards, Treasury futures, total return swaps, and equity exchange-traded and OTC derivatives.
- Proven experience managing material financial risk within an insurance, asset management, or comparable institutional context across equity and/or interest rate derivatives.
- Demonstrated ability to own a program or initiative end-to-end within a governed institutional environment.
- Strong communication and leadership skills, with the ability to convey complex risk topics to senior and non-specialist audiences.
- Strong quantitative background, including hands-on experience with analytics, scenario analysis, research, simulation and risk measurement; Python and/or SQL required.
- Bachelor's degree in Finance, Mathematics, Economics, Engineering, or a related field.
The Ideal Qualifications
- MBA from a leading institution preferred, reflecting the leadership, strategic thinking, and cross-functional skills required to own and grow a complex program. Alternatively, MFE, or PhD, combined with demonstrated experience owning risk, making trade-offs, and operating within institutional governance frameworks.
- Direct experience with Variable Annuity hedging programs, including governance, risk committee reporting, and option budget management.
- Deep expertise in interest rate volatility markets, including swaptions and relative value strategies across the yield curve.
- Strong understanding of asset-liability management principles in an insurance context.
- Professional certification (CFA, FRM).
What You Can Expect at MassMutual
MassMutual offers the opportunity to do meaningful work within a purpose-driven organization that values long-term impact over short-term outcomes. In this role, you can expect:
- Clear areas of ownership and accountability, with work that connects directly to company and customer outcomes
- A collaborative environment where perspectives are welcomed
- Access to learning, development, and internal networks that support continuous growth and skill-building over time
- Employee-led communities and forums that foster connection, learning, and inclusion across the organization
- A culture grounded in integrity, responsibility, and stewardship-supported by a company with a strong legacy and a future-focused mindset
Salary Range:
$176,400-$231,500
At MassMutual, we focus on ensuring fair equitable pay, by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.
Why Join Us.
We've been around since 1851. During our history, we've learned a few things about making sure our customers are our top priority. In order to meet and exceed their expectations, we must have the best people providing the best thinking, products and services. To accomplish this, we celebrate an inclusive, vibrant and diverse culture that encourages growth, openness and opportunities for everyone. A career with MassMutual means you will be part of a strong, stable and ethical business with industry leading pay and benefits. And your voice will always be heard.
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.
MassMutual is an equal employment opportunity employer. We welcome all persons to apply.
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
At MassMutual, we focus on ensuring fair, equitable pay by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component. For more information about our extensive benefits offerings please check out our Total Rewards at a Glance.
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