SPRINGFIELD, Mass., Oct. 14, 2011 /PRNewswire/ -- Massachusetts Mutual Life Insurance Company (MassMutual) announced today it has promoted Elizabeth A. Ward, who serves as the company's Chief Enterprise Risk Officer, to Executive Vice President.
Ms. Ward has served in her current role at MassMutual since November 2007 and previously held the title of Senior Vice President. As Chief Enterprise Risk Officer, she is responsible for MassMutual's enterprise risk management functions across the company including its asset management subsidiaries. She is a member of MassMutual's Executive Leadership Team.
"Over the past two years, against a backdrop of economic volatility, the need for more sophisticated and comprehensive enterprise risk management has become more critical than ever to our financial strength, growth and commitment to our policyholders," said Roger W. Crandall, Chairman, President and CEO, MassMutual. "Betsy has done an outstanding job in meeting these increased demands by continuing to raise the bar in successfully identifying, measuring, monitoring and coordinating risk management policies and programs across the enterprise, which ultimately benefits our policyholders."
Ms. Ward has more than 20 years of experience in insurance company investment portfolio management and strategy. She first joined Babson Capital Management LLC, a MassMutual subsidiary, in 2001, and prior to that she held a broad range of insurance and investment management positions at a number of companies, including American Skandia, Aeltus Investment Management and Aetna Life & Casualty.
Ms. Ward is an active leader in a number of Chief Risk Officer and industry trade groups. She is a founding member of the North American CRO Council and serves as its Vice Chair. She is also Chair of the American Council of Life Insurers' Global Solvency Coordinating Deputies Group and its International Solvency Task Force, and is a member of its Life Investments Committee.
Ms. Ward is a Fellow of the Society of Actuaries, a Professional Risk Manager, a Member of the American Academy of Actuaries, a member of the Global Association of Risk Professionals, and a regular member of the CFA Institute. She holds a B.A. from the University of Rochester in Economics and Spanish.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyholders. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyholders every year since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company's strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.