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Investment Accounting Associate II



Accounting & Finance
Springfield, MA, USA
Posted on Wednesday, August 23, 2023

Investment Accounting Associate II

Springfield, Massachusetts Finance & Accounting Job ID R14235

Investment Accounting Associate II, Residential Mortgage Loan


Boston, MA or Springfield, MA

The Opportunity

As an Accounting Associate II in our Investments Accounting area, you will contribute to our impact by ensuring the accurate, timely completion of monthly, quarterly and annual accounting close cycles for our residential mortgage loan asset classes. You will contribute to the completion of the investment 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 third parties that provide accounting services to the Company. You will also contribute to various initiative work focusing on increasing efficiency and adding value, while continuing to develop your project management skills, hone your skills in investment product accounting and related financial impacts. For the residential mortgage loan investment area, your daily/monthly responsibilities will include, but are not limited to the following:

The Team

The Investment Controllership team is a high-profile team in the Controllers organization, comprised of accountants who oversee our various asset classes and investment activity. The team continues to grow in support of our growing level of assets, key initiatives and special projects. Our team has high business acumen and is driven to provide timely and accurate financial information to our customers. We pride ourselves on working with agility and being a reliable source of information in the organization. We strive to continuously improve by working together as team to make each other and our processes better. Our culture thrives on inquisitive approaches to our work to help identify issues with specificity and demonstrate high levels of accountability to make things right.

The Impact

  • Responsible for ongoing activities as part of the monthly, quarterly, and annual close cycles.
  • Prepares accounting information such as financial statements, footnote schedules, regulatory reports and other management reports.
  • Plays a key role in a collaborative and inclusive culture by working closely with Investment Management.
  • 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.
  • Perform reconciliations of investment data for ledger tie outs. Prepare periodic journal entries.
  • Participates in creating, analyzing, and presenting monthly financial analysis reports to senior management.
  • Support annual regulatory financial statement audit requests. Participate in auditor discussions.
  • Thrives in an environment whereby the team is inspired, engaged and motivated by identifying opportunities to learn and grow.
  • Manages priorities effectively and adapt quickly to achieve goals while developing efficiencies and established methods in the process.
  • 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. 
  • Implements new statutory and GAAP investment accounting requirements and determines the accounting process for new investments and investment related transactions.
  • 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 investment accounting, including accounting performed by vendors. Ensures policies and procedures are adhered to.
  • Actively participate in the implementation of the Company’s new ledger.

The Minimum Qualifications

  • Bachelor’s degree in Accounting, Finance or related major
  • 4+ years of related work experience with a track record of increasing responsibility

The Ideal Qualifications

  • Prior exposure to investment or mortgage accounting a plus!
  • CPA or progress towards preferred
  • Knowledge of STAT and GAAP accounting
  • Strong analytical skills: ability to analyze financial data sets and tell the story of the data.
  • Proven ability to complete high quality work efficiently and increase autonomy over time.
  • Able to build and maintain strong working relationships across cross-functional groups and third parties.
  • Excellent verbal and written communication skills with the ability to express ideas in and articulate in an organized and persuasive manner to leadership, staff, third parties, etc.
  • Able to work well in a dynamic and agile environment.
  • Intellectual curiosity to continue learning and adding breadth and depth to understanding.

What to Expect as Part of MassMutual and the Team

  • Regular meetings with the Investments 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


Salary Range: $82,000.00-$107,600.00 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.