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Derivative & Collateral Operations Analyst



IT, Operations
Boston, MA, USA
Posted on Wednesday, August 23, 2023

Derivative & Collateral Operations Analyst

Boston, Massachusetts Finance & Accounting Job ID R14043

Derivative & Collateral Operations Analyst

Collateral Management Team


Boston, MA or Springfield, MA 

The Opportunity

As a Derivative & Collateral Operations Analyst you will work in a fast paced, time-sensitive, collaborative environment. The individual will apply finance, investment knowledge and/or other technical skills within the middle office role. The consultant will have direct exposure with the front office, risk management, compliance, and accounting to address both recurring and critical time-sensitive issues and communications needs.  The collaboration within the multiple business areas is a key component towards our new Target Operating Model (TOM).  The consultant will also be responsible for creating, documenting, and implementing complex collateral operating processes.  May lead enterprise wide initiatives to safeguard cash assets for operating and investment cash flows.  Provide functional advice or training as needed.  A successful candidate must be able to work under pressure, accurately and with limited supervision and must be able to represent Investment Management and the company in communications with internal and external constituents with discretion, tact and decorum.

The Team

The Derivative & Collateral Operations Analyst will report to the Director of Collateral Management, part of MassMutual Derivatives, Collateral, and Investment Pricing team within the Investment Management Division.  The team is responsible for Counterparty Onboarding, trade settlements and collateral management for OTC, Cleared, Exchange Traded (ET), Regulatory Dodd Frank variation and initial margin, related to MassMutual’s General Investment Account (GIA).  The team is diligently working on a multi-year project related to the transformation of MassMutual’s Derivatives and Collateral Platform.  The effort entails the implementation of one stop shopping for Derivatives, including a front, middle and back-office solution.       

The Impact:

  • Daily oversight of day-to-day collateral margin and payment processes
  • Validating and ensuring all margin calls are issued on a timely basis and perform end-to-end margin processes
  • Daily oversight of various collateral contracts (Futures, Cleared, Bilateral OTC, TBA/Repos, and IM) and interact/communicate with external counterparties to resolve differences
  • Liaison with front office, risk, compliance, accounting, treasury and audit teams
  • Perform daily and monthly reconciliation and analyze/resolve complex variances related to derivatives and collateral
  • Instruct and Approve wire transfers and submit SWIFT communications
  • Manage cash forecasting and analysis (foreign and domestic)
  • Assist with broker relationships including Counterparty onboarding
  • Report and analyze cash and investment activity for various audiences including senior leaders in IM, the LOBs and Corporate
  • Assist in implement new regulations related to Collateral and Derivatives
  • Participate in Derivative and Collateral project work to support Investment Management and Corporate goals

The Minimum Qualifications

  • Bachelor’s degree in Finance, Accounting, Business Management, or other related field
  • 2+ years of derivative experience with an understanding of systems and data management
  • 2+ years of finance and/or investment operations background
  • 2+ years of knowledge in OTC and Exchange Traded Derivatives

The Ideal Qualifications

  • 5+ years of investment operations experience
  • 2+ years of knowledge of Derivatives, Collateral, Banking, Finance, Investment Operations, and Accounting or relevant work experience
  • 2+ years of experience with TriOptima portfolio reconciliation
  • 2+ year of experience with Calypso/Murex Systems
  • 1+ year of ISDA (international Swaps and Derivatives Association) and CSA (Credit Support Annex)
  • 2+ years of Excel, Pivot table and VBA a plus
  • Experience in Life Insurance and/or Investment Management a plus
  • Strong attention to detail - precision and quality
  • Strong analytical and problem solving abilities
  • Ability to handle shifting priorities effectively
  • Handles complex transactions involving derivatives and collateral management
  • Strong collaboration skills and ability to work in a team-based environment
  • Effective communication skills with ability to address and resolve disputes tactfully
  • Adapts to a fast-paced, high-intensity environment
  • Ability to organize and prioritize tasks to achieve deadlines

What to Expect as Part of MassMutual and the Team

  • Regular meetings with the Collateral and Settlement Operations team
  • Focused one-on-one meetings with your manager
  • Access to mentorship opportunities
  • Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, 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


Salary Range: $80,000.00-$105,000.00 Apply

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.