At MassMutual, we’re passionate about helping millions of people find financial freedom and this passion has driven our approach to developing highly interactive digital experiences for our customers. This position resides within the Controllers Organization of Corporate Finance which aspires to be best in class financial stewards for MassMutual. This is an opportunity for an individual who thrives in a highly dynamic and agile accounting environment to collaborate across teams seeking solid execution and improving outcomes. This is an opportunity for an experienced accounting professional who wants to continue to learn and develop as part of a diverse team of highly motivated professionals focused on proactively driving the development and execution of process improvement, meaningful analysis and control execution for insurance accounting activities.
What great looks like in this role
Our ideal candidate is knowledgeable about insurance accounting and the insurance industry. You’ll use your skills to help us improve our insurance accounting analysis and control environment.
In this role, as well as all roles within MassMutual, you will demonstrate accountability, agility, a dedication to be inclusive, strong business acumen, and willingness to show courage, even in the most difficult situations. Effective communication skills will be key to successful relationship-building and articulating the reasoning and bases for your recommendations and conclusions. You will demonstrate an inquisitive approach, asking probing questions to identify issues with specificity.
Objectives of this role and the team
Overall responsibility for insurance accounting supporting financial statements and regulatory filings for MassMutual; including related controls. Responsible for accounting oversight of ledger accounting and interactions with admin systems and the business.
What success looks like.
Contribute to oversight of the insurance accounting execution and controls for monthly and quarter-end closes.
Contribute to the various initiatives to increase efficiency and add value, using project management and accounting skills.
Key competencies for success include accountability, business acumen, agility, and communication.
Ability to build key relationships through the organization to become an expert in insurance product accounting and related financial impacts
Daily and monthly responsibilities
Efficiently captures and executes controls for insurance financial activities and transactions.
Ensures the accurate, timely completion of monthly, quarterly and annual accounting close cycles for complex insurance accounting by effectively planning, monitoring, and problem solving.
Contributes to the completion of the insurance accounting of financial transactions ensuring accuracy and compliance with accounting regulations. This includes the monitoring and governance, oversight, process change and transaction controls, including those executed by vendors that provide accounting services to the Company.
Develops, documents, and assures adherence to an internal control framework that ensures accurate and timely financial reporting. Makes recommendations to continuously improve the overall control environment. Monitors the control environment of insurance accounting, including accounting performed by vendors. Ensures policies and procedures are adhered to.
Analyze trends and results, use strong business acumen and communication skills collaborating with peers and the financial reporting team to draft and contribute to commentary which enables readers to quickly understand how performance is impacting financial results.
Supports the Financial reporting team in providing accounting information such as financial statements, footnote schedules, regulatory reports and other management reports.
Effectively collaborates with accounting policy, corporate actuarial, tax, financial reporting, capital management and strategic business partners.
Implements new statutory and GAAP insurance accounting requirements and determines the accounting process for new insurance products and insurance related transactions.
Uses professional insight to identify and implement accounting improvements that increase the business value and efficiency of the team. Initiates and/or leads increasingly complex projects and continuous improvement activities that may span beyond the scope of the team's responsibilities. Responsible for leading problem solving to improve quality, close cycle times, increase efficiencies, improve employee engagement and customer satisfaction.
Deepen knowledge of the closing process.
Respond to auditor requests for source document information, including control execution documentation and support.
What to Expect as Part of MassMutual and the Team
Regular meetings with the Insurance Accounting 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
The Minimum Qualifications
Bachelor’s degree or equivalent experience
Minimum of 3 years’ experience in public accounting or working in large, sophisticated corporate environment
Experience in identifying internal control issues and remediation efforts.
Knowledge of GAAP accounting
Must be authorized to work in the United States, without requiring sponsorship, both now and in the future.
The Ideal Qualifications
CPA or progress toward CPA preferred
Knowledge of NAIC Statutory accounting
Experience in public accounting or working in large, sophisticated corporate environment providing insurance accounting, subsidiary ledger processing and related insurance matters.
Preferred experience working with and supporting several corporate units.
Preferred experience working in a Lean Six Sigma environment with strong root cause problem solving experience.
Ability to partner with and influence business leaders and peers in insurance process resign and improvements.
Experience using insurance data and information to analyze and communicate the implications of insurance accounting and ERP tools (SAP, Cadency, etc.).
Intellectual curiosity to continue learning and adding breadth and depth to understanding.
We’ve been around since 1851. During our history, we’ve helped millions of people find financial freedom, offer financial protection, and plan for the future.
Today, we continue to develop meaningful relationships with our customers by building their trust, being knowledge problem solvers and always prioritizing their needs. MassMutual is guided by a single purpose: We help people secure their future and protect the ones they love. As a company owned by our policyowners, we are defined by mutuality and our vision to put customers first. It’s more than our company structure – it’s our way of life.
MassMutual was recognized as an Ethisphere 2020 World’s Most Ethical Company, a Top Place to Work in 2020 according to The Boston Globe and named among America’s Best Employers for Diversity according to Forbes 2020. MassMutual ranks No. 84 on the Fortune 500 list of largest companies.
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