Cash Portfolio Manager
Investment ManagementBoston, MAThe OpportunityMassMutual is seeking a highly motivated, solution-oriented investment professional to join MassMutual Investment Management's Fixed Income Portfolio Management team. In this newly created role, you will optimize cash in portfolios for MassMutual's $250 billion General Investment Account (GIA) by partnering with internal investment teams and outside investment managers to fund investments, reduce cash drag, minimize overdrafts and keep portfolio cash percentages within predefined targets. The new function will operate in the Aladdin platform. The role will have front and middle office functions as part of the daily responsibilities.
The TeamThe Fixed Income Portfolio Management (FIPM) team is responsible for asset allocation, fundamental credit underwriting and monitoring, ESG investment strategy, and macroeconomic research. FIPM is a small, highly collaborative team that works with partners across Investment Management to manage the product segment portfolios within the GIA. The team combines fundamental investment analysis and asset allocation skills with quantitative and asset/liability management expertise. This high-profile group works across Investment Management and with internal stakeholders in product, actuarial, treasury, accounting, risk, legal, compliance, and other areas.
The Impact- Lead the build of the Cash Portfolio Management function utilizing the Aladdin platform, including the design, processes, workflows and procedures
- Role will be critical in defining the architecture of the short-term cash ecosystem, including workflows, cash and allocation processes, etc
- Accountable for decisions related to MassMutual's investment cash position; directly impacting financial results (cash yield) as well as and reportable cash for investment managers to make investment decisions
- Accountable for the daily monitoring of cash balances to cash targets and overdrafts via the Aladdin cash Ladder, including Transferring cash and rebalancing portfolios as needed to maintain cash targets
- As required, transfer cash to prefund investments executed by the outside investment managers, requiring extensive communication and collaboration across the broader MassMutual organization and asset managers
- Build trade orders to strategically invest cash balances across a complex portfolio structure
- For non-dollar investments, coordinate cash movements to ensure settlements of investments and hedges
- Within guardrails, execute small (less than $1MM USD) cleanup SPOT FXs
- As part of enterprise asset liability process, work closely with other leaders in the organization, including Treasury Operations, Liquidity Management, Portfolio Management, Quantitative Portfolio Management, etc. treasury and liability management to update Aladdin with liability forecasts as required. These decisions impact the profitability and risk of the underlying portfolios
- For large volumes of cash movements, build and execute Aladdin Application Programing Interface (APIs) to quasi automate; this accountability requires close coordination with leaders in the Treasury area, Portfolio Managers, external custodians; and outside asset managers
- Maintain cash targets and other Aladdin configuration
- Measure Portfolio performance via key risk indicators (KRI)
The Minimum Qualifications- Bachelor's degree
- 7+ years of relevant experience within institutional investment management, asset management, treasury, portfolio management, trading, investment operations, or a related investment function
- Hands-on experience working with BlackRock Aladdin within an investment environment
The Ideal Qualifications- 10+ years of investment experience, including 5+ years of meaningful cash, liquidity, or short-term portfolio management experience
- Deep expertise in Aladdin, ideally including cash ladders, cash management, portfolio/account structures, configuration, investment workflows, or platform implementation/transformation
- Prior experience building, transforming, or materially enhancing a cash-management function, investment operating model, or related investment infrastructure
- Experience managing cash across complex portfolio, account, legal-entity, or insurance investment structures
- Insurance General Account investment experience or experience within a similarly complex institutional asset-owner environment
- Experience with G7/multi-currency cash management, FX activity, and non-USD investment settlement
- Strong knowledge of custody-bank cash operations and interaction with external asset managers and custodians
- Experience with Bloomberg, advanced Excel, and API-enabled workflow/process automation
- MBA, CFA designation, or other relevant advanced degree or professional credential
- Demonstrated ability to operate effectively in a high-pressure, highly collaborative environment requiring strong attention to detail, controls, and execution
Salary Range:$172,000-$225,700
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.
