Structured Credit Associate

Structured Credit Associate

Fixed Income Portfolio Management Team

Full-Time

Boston, MA

The Opportunity

The Structured Credit Associate will

be responsible for

the evaluation,

structuring

, diligence, and on-going monitoring of structured credit investments for MassMutual’s General Investment Account (GIA)

The associate will also help manage relationships with MassMutual’s public and private asset-backed managers and will work closely with internal Portfolio Managers and the Head of Fixed Income Portfolio Management. This role will have direct responsibility for the secondary coverage of assigned sectors of the GIA. The structured credit portfolio consists of a portfolio of diverse assets, structures, and managers; the assets are often complex,

bespoke,

and under

negotiated terms. The role will report to the Head of Asset-Backed Finance.

The Team

The

Fixed Income Portfolio Manageme

nt (FIP

M)

team has responsibility for asset allocation, fundamental credit

underwriting

and monitoring, ESG investment strategy, and macroeconomic research. A small and highly collaborative team, FIPM works with other teams in Investment

Managemen

t to manage the product segment portfolios and the approximately

$250 billion

GIA. The team pairs fundamental investment analysis and asset allocation skills with quantitative and asset / liability management

expertise

• . This high-profile group works across all of Investment Management as well as with our other internal stakeholders including product, actuarial, treasury, accounting, risk, legal, and compliance, among others.

The Impact :

The associate will support the continued growth of the structured credit portfolio and the

GIA more broadly

with the

structuring

, underwriting, monitoring, and closing of asset-backed transactions and

nvestment

anagement

greements.

Th

is wo

will

assist

the investment management

department

’s

goal of providing MassMutual policy holders’ financial security.

Act as a thought leader for designated areas of concentration.

Execute fundamental credit analysis of individual holdings within various structured asset classes and recommendations of action where necessary. Recommendations are used by Portfolio Managers,

the

Head of Asset Allocation, and

the

Head of FIPM to drive and influence investment decisions for the GIA, and

to ensure investment

recommendations are aligned to our investment philosophy / fit our long-

term strategy (i.e. patient, long-only investment style that strives to manage risks and take advantage of opportunities).

Research, underwrite, analyze, and

monitor

multiple fixed income asset classes including bringing names and / or strategies through

Investment

Committee(s).

Conduct in-depth

macro

research into various investment-related topics

to

support

the evaluation of potential investment opportunities as well as

the surveillance of

current GIA holdings.

The insights genera

ted f

rom this research

are

inte

nded to be

additive to per

formance

relative

to benchmark and pricing a

ssu

mptions

Deep, thorough, and original structured credit research results in actionable, real-time investment decisions across assigned sectors.

Work with owned and / or outside asset

managers to review

their respective

IA

fixed income portfolios,

strategy

and performance

to

provide recommendations to the senior leadership of

FIPM

Contribute to MassMutual Investment Management’s collaborative investment process by sharing views with Investment Management leadership

PMs and Analysts), providing critical input to the team related to their analysis and associated buy / sell recommendations.

The Minimum Qualifications

Bachelor’s Degree in

Finance

, Economics or related field

years of relevant experience

structuring and underwriting complex structured credit investments

in an Investment Banking

role,

Junior Portfolio Manage

ment

role

for

an asset manager

, or similar.

xperience

modeling complex

inv

estment

across

Asset-Backed Securities markets.

The Ideal Qualifications

Advanced degree in Finance

MBA

or CFA designation preferred.

Experience working with transaction counsel and analyzing complex structures.

A systematic and deep thought process with the ability to understand and articulate portfolio implications of individual ideas.

Comfort with basic concepts in structured finance, such as structural leverage, LTV & attachment and detachment points, triggers, covenants, collateral types, speeds, default curves, average life, structure

types

and performance metrics.

Ability to underwrite, structure and act as diligence-lead on private ABS transactions.

A high degree of intellect, curiosity, drive for continued improvement, and a passion for investing.

Attention to detail, strength of conviction, ability to think independently, and generate original ideas and opinions.

A desire to work in a collegial team-oriented environment and openness to discussing, sharing, and debating original investment ideas with a collaborative style.

An effective communication s

tyle that has been applied in presenting to clients, senior leadership, and broader audiences; strong communication skills (both written and oral) that result in succinct and defensible recommendations.

A flexible, open-minded style and an interest in gaining perspectives from various sources and people. Highest standards of personal honesty and integrity.

Knowledge and experience with Liability Driven Investment (LDI) and / or insurance solutions preferred.

Proficiency

In Microsoft Office with strong Excel modeling skills; ability to work with complex datasets.

Proficiency

in Bloomberg

terminal

Understanding of cash flow modeling and exposure to Intex (or like) modeling.

What to Expect as Part of MassMutual and the Team

Regular meetings with the

Fixed Income Portfolio Management team.

Focused one-on-one meetings with your manager

Networking opportunities including access to Asian, Hispanic / Latinx, African American, women, LGBTQIA+, veteran and disability-focused Business Resource Groups

Access to learning content on Degreed and other informational platforms

Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits

#LI- FT1

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.

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