Investment Accounting Associate – Governance

Investment Controllership Governance

Full-Time

Boston, MA or Springfield, MA

Multiple openings

The Opportunity

This Investment Accountant Associate role is a newly created position that will be a key addition to our Investment Controllership Governance team. The position reports to the Director of Investment Operational Accounting Governance and resides within the Financial Controllership team, a critical team within the Controllers Organization 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 focused on solid execution and improving outcomes. We are seeking an accounting professional who wants to join a highly motivated team of professionals focused on proactively driving the development and execution of process improvements, meaningful analysis and improved coordination with the business partners for investment activities.

The Team

This recently formed team is responsible for ensuring the integrity of the accounting information received from the Investment Operations securities system. This team is highly focused on the control environment supporting this purpose. To this end, the team works closely with its critical partners, Investment Operations and Investment Controllership. The team looks to leverage technology and resource opportunities to ensure an efficient and effective approach to maintaining and improving these processes and controls.

The Impact

In this role you will work with the Director of Investment Operational Accounting Governance and be a key person owning oversight of reviewing, reconciling and analyzing key financial data on behalf of Investment Controllership. Role may also include analyzing financial data across insurance companies and subsidiaries, ensuring controls and conducted and exceptions resolved accurately and timely. Through the nature of this role, which involves coordinating and facilitating with our team of external consultants and internal business partners at MassMutual, you will have high visibility to leadership within Controllers Organization as well as more broadly across Corporate Finance and Investment Management.

Your responsibilities will include a combination of the following tasks:

• Coordinate with Securities, Alternative Investments & Derivatives Controllership and Investment Operations to analyze and interpret financial information, processes and controls to ensure accuracy and compliance with company policy, regulations and other best practices
• Coordinate and review the aging analysis of suspense activity completed by our team of external consultants.
• Communicate aging results to MassMutual’s finance leadership on a quarterly/monthly basis, including any potential exposure for the Company
• Assist in resolving issues related to our open investment payable/receivable balances, including coordinating with our Investment Operations team to clear aged balances.
• Review balance sheet and income statement reconciliations, including analysis of our net unreconciled exposure on a monthly/quarterly basis.
• Review, research and resolve daily, monthly and historical exceptions across multiple security types and accounting platforms
• Analyze and interpret financial information, processes and controls to ensure accuracy and compliance with company policy and regulations
• Propose resolutions to new and existing processing errors and/or deficiencies
• Collaborate with internal teams to resolve items and address investment -related issues
• Identify areas of risk and/or improvement within existing processes and controls across the investment ecosystem and make recommendations to continuously improve the overall control environment.
• Thrive in an environment whereby the team is inspired, engaged and motivated by identifying opportunities to learn and grow
• Manage priorities effectively and adapt quickly to achieve goals while developing efficiencies and establishing methods in processes & controls
• Thrive in a complex corporate structure and comfortably switch gears and alter course to adapt to changing circumstances
• Partner with teams, including but not limited to Securities Controllership, Investment Operations, Financial Reporting & Controls and ERM
• Actively participate in the implementation of the Company’s new ledger and other key projects
• Initiate and/or lead increasingly complex continuous improvement activities
• Participate in problem solving to improve quality, cycle times, increase efficiencies, improve employee engagement and customer satisfaction within the Investment Controllership team

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
• 4+ years combined experience with U.S. GAAP and/or STAT

The Ideal Qualifications

• Knowledge of and experience with investments
• 4+ years of significant audit-related experience (external or internal)
• CPA or progress towards
• Advanced knowledge of Excel and PowerPoint
• Strong analytical skills
• Proven ability to complete high quality work efficiently and increase autonomy over time
• Experience with and knowledge of US GAAP and Statutory accounting/reporting
• Able to build and maintain strong working relationships across cross-functional groups
• Demonstrate strong accountability and commitment
• Ability to proactively take ownership of assignments and drive them through to completion
• Excellent verbal and written communication skills with the ability to express ideas in and articulate in an organized and persuasive manner to leadership, and staff, etc.
• 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 Investment Controllership 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:

At MassMutual, we focus on ensuring fair equitable pay, by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.

Why Join Us.

We’ve been around since 1851. During our history, we’ve learned a few things about making sure our customers are our top priority. In order to meet and exceed their expectations, we must have the best people providing the best thinking, products and services. To accomplish this, we celebrate an inclusive, vibrant and diverse culture that encourages growth, openness and opportunities for everyone. A career with MassMutual means you will be part of a strong, stable and ethical business with industry leading pay and benefits. And your voice will always be heard.

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. We are a company of people protecting people. Our company exists because people are willing to share risk and resources, and rely on each other when it counts. At MassMutual, we Live Mutual.

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.

At MassMutual, we focus on ensuring fair, equitable pay by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component. For more information about our extensive benefits offerings please check out our Total Rewards at a Glance.