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Investment Accounting Associate

MassMutual

MassMutual

Accounting & Finance
Boston, MA, USA
Posted on Tuesday, August 29, 2023

Investment Accounting Associate

Boston, Massachusetts Finance & Accounting Job ID R14277

Investment Accounting Associate

Investment Controllership

Full-Time

Boston, MA or Springfield, MA

About the Corporate Controller Organization

The Controllers Organization is responsible for delivering on the foundation of credibility and control of the core financial information leveraged across Finance to communicate with leadership, key business partners and regulators on the enterprise’s actual results, forecast implications and strategic decision making.  This work considers legal entity structures, distribution channel, and product results as well as how these impact our capital optimization and operating liquidity.

We are a diverse group of professionals experienced in and responsible for accounting, financial reporting, tax, policy and controls, cash operations, corporate finance data and systems management as well as wealth management finance activities.  We are seeking engaging professionals with strong communication skills and deep intellectual curiosity to ensure the timely and efficient reporting of results. We not only perform the required activities. We are looked to as business partners who add value by challenging existing operating practices strengthening controls and highlighting trends and insights.

The Opportunity

This Investment Accounting Associate role is a newly created position that will be a key addition to our Investment Controllership team within the Controllers organization. As an Accounting Associate in the Controllers Organization of Corporate Finance you will join us as we continue our progress towards becoming best in class financial stewards for MassMutual. We are forward-thinking and seek others who will leverage their curiosity and take initiative. Join us as a partner who will work collaboratively and with determination to leave the company in a better place than you found it. As an Accounting Associate in our Investments Accounting area, you will be a key contributor on the team that executes investment accounting and analysis, including oversight of financial reporting outcomes of all MassMutual investment products. You will thrive in a highly dynamic and agile accounting environment, where we are focused on both execution and improvement of outcomes. If you want to continue your career as a part of a diverse team of highly motivated professionals who are focused on driving process improvement, meaningful analysis and control execution for insurance accounting activities, this role is for you!

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 highbusiness 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

As an Accounting Associate in our Investment Accounting area, you will ensure the accurate, timely completion of monthly, quarterly, and annual accounting close cycles for complex investment accounting by effectively planning, monitoring, and problem solving. You will contribute to the completion of the investment accounting of financial transactions ensuring accuracy and compliance with accounting regulations. This includes the monitoring, oversight, process change and transaction controls. 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.  Your daily/monthly responsibilities will include, but are not limited to the following:

  • 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. 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.
  • Perform reconciliations of investment data for ledger tie outs. Prepare periodic journal entries.
  • Supports the Financial Reporting team in providing accounting information such as financial statements, footnote schedules, regulatory reports and other management reports. Respond to annual regulatory financial statement audit requests.  Participate in auditor discussions.
  • Participate in the research and implementation of new statutory and GAAP investment accounting.
  • Uses professional insight to identify and implement accounting improvements that increase the business value and efficiency of the team.

The Minimum Qualifications

  • Bachelor’s degree or equivalent experience
  • 2+ years of accounting experience in a corporate environment

The Ideal Qualifications

  • Prior exposure to investment accounting, subsidiary ledger processing and related investment matters a plus!
  • CPA or progress towards preferred
  • Experience in identifying internal control issues and remediation efforts. 
  • Knowledge of GAAP accounting. STAT accounting experience a plus.
  • Ability to partner with business leaders and peers in investment process redesign and improvements.
  • 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

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Salary Range: $67,400.00-$88,400.00 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.