(Springfield, MA) – Recognizing a commitment to excellence in enterprise risk management (ERM) by Massachusetts Mutual Life Insurance Company (MassMutual), Elizabeth “Betsy” Ward, MassMutual Executive Vice President, has been named Chief Risk Officer (CRO) of the Year byInsurance Risk magazine, a leading global publication dedicated to insurance risk management issues.
Ms. Ward, who is MassMutual’s CRO, was nominated for this award, which recognizes leading industry practitioners who demonstrate outstanding risk management and governance, by several of her CRO peers. In highlighting Ms. Ward, the Insurance Risk judges noted, “Domestically and internationally, Ward has been someone that has made a difference this year.”
“This award underscores our ongoing work in ERM and the importance MassMutual places on a strong, disciplined, thoughtful risk management operating system that is embedded throughout our entire enterprise,” said Ms. Ward. “This recognition, which is a testament to the exceptional work done by our entire team, is especially satisfying as it comes from other outstanding CROs throughout the industry. They recognize the collaborative ERM work being done within MassMutual that enables us to focus on our strategic objectives and continue to help people secure their future and protect the ones they love.”
Ms. Ward, who joined MassMutual in 2001, is now in her eighth year as the company’s CRO. She came to MassMutual from Babson Capital Management, one of the company’s subsidiaries. She has also held management positions with American Skandia, Charter Oak Capital Management, Aeltus Investment Management and Aetna Life and Casualty.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. 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 policyowners consistently 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.