Director, Cash Clearing Center of Excellence (CoE)

Insurance General Account Portfolios

Full-Time

Boston, MA or Springfield, MA

The Opportunity

We have an exciting transformational opportunity for a Director, Cash Clearing Center of Excellence (CoE), managing the end to end cash processing within the Insurance General Account Portfolios.

The position will report to the Investment Management Operations within Investment services. In this role, you will work with key stakeholders including affiliated and third-party asset managers, third-party administrative service providers, controllership organization, and the investment management leadership team. You will be expected to become the subject matter expert in cash services with full ownership and a thorough understanding of the end-to-end model. You must also have the ability to understand accounting requirements, at a high level, related to trade classifications and treatment of assets within Accounting Book of Record and downstream reporting. You must also be able to analyze and present cash clearing account reconciliation metrics.

The team functions alongside other Centers of Excellence in Public, Privates, Mortgage Loans and Bank Loan Securities and has opportunities to contribute to the development of the Operations organization. This role offers an opportunity to be part of the team enabling administering over $250B of General Account (GA) portfolio operations end-to-end; through partnering with investment management, middle-office data management, and technology teams; actively monitoring exposures; managing risk; and managing a team of specialists. This leadership role will set direction for the team, contribute to the development of the vision, influence refinement of operating model and processes, and be a subject matter expert for operational matters. The Director plays a key role in the execution of projects to scale, automating and streamlining processes within the CoE. An additional critical responsibility is to manage resource planning and capacity analysis to utilize onshore and offshore teams to effectively deliver objectives for the CoE.

The Team

The team you will be managing is located across Boston, Springfield (MA).The team also includes a substantial offshore component.

Investment Operations extends from relentlessly focusing on stakeholder satisfaction, to accelerating the adoption of automated, digital transaction processing and self-service tools. To this end, the team leverages technology and data to both reshape investment operational support and deliver differentiated stakeholder experiences.

The Impact

• Lead direct teams to monitor cash positions within MassMutual’s investment and accounting book of record
• Enable the teams to provide seamless operational execution on third party and affiliated managers’ transactions, including cash reconciliations
• Participate in discussions with critical stakeholders and enablers, including Technology (ETX) to define operating model, enable improvement projects and initiatives, digitizing and automation efforts to improve operational performance
• Establish and manage the CoE with key operating metrics and utilize an outcome-based performance and efficiency improvement
• Monitor work queues and ensure critical deliverables are met on time and with quality
• Lead/Manage multiple business teams across multiple locations
• Be the escalation / point of contact for the team and for the broader investment management and operations teams
• Manage external investment managers and related servicers and measure performance using service level agreements

The Minimum Qualifications

• Bachelor’s degree
• 8+ years experience investment operations, finance or accounting

The Ideal Qualifications

• The ability to lead and manage projects from initiation to completion, ensuring timely and effective execution, and implementing quality management to drive change initiative effectiveness
• Demonstrated experience developing, leading and managing a diverse team, fostering a collaborative approach and strong partnership with a focus on attracting, developing and retaining talent
• Proficiency in financial software and project management tools
• Excellent problem-solving skills, excellent attention to detail, and a numerate, analytical approach are crucial
• Strong written and verbal communication skills
• Able to work effectively and collaboratively within a small, dedicated team but also on a large local platform
• Ability to meet multiple deadlines by leveraging cross-functional teams with little direct supervision
• Committed to delivering the highest quality work product. Self-motivated, hard-working and operates with a sense of urgency and a strong attention to detail
• Demonstrated ability to drive process improvement and efficiencies through innovation and collaboration with colleagues and service providers.
• Experience with cash clearing account reconciliation

What to Expect as Part of MassMutual and the Team

• Regular meetings with the Investment Team
• Focused one-on-one meetings with your manager
• 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 information platforms
• Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits

#LI-MM1

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. We welcome all persons to apply.

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.