Director of Insurance Accounting Operations

  • MassMutual
  • Albany,NY
  • 2023-11-19T17:07:44Z

Director Insurance Accounting Controllership

Insurance Accounting Operations in Corporate Finance

Full-Time

Remote US

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

As a Director 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 a Director, you will be an experienced accounting professional who wants to work with 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 controllership activities.

The Team

This position is a key leader on the team that manages and executes insurance accounting, controllership and analysis activities, including oversight of financial reporting outcomes of all MassMutual insurance products.

The Insurance Accounting Operations and Controllership team is a high-profile team in the Controller s organization comprised of talented accounting professionals who possess diverse ranges of experiences and backgrounds. Our team has a 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 and achieve results by actively listening, seeking, understanding and creating solutions as a unified team. The team continues to grow due to the growing number of projects and initiatives that we are part of.

This is an opportunity for an experienced accounting professional who thrives in a highly dynamic and agile environment to collaborate across teams seeking solid execution and improving outcomes.

The Impact

As a Director, you will be in a controllership role responsible for engaging with a team that manages and executes insurance accounting and analysis, including oversight of financial reporting outcomes of all MassMutual insurance products. You will proactively identify financial reporting risks and opportunities within the insurance processes activities and translate that into decision-useful improvement recommendations. You will provide sound financial advice to business units or other departments, anticipating the financial statement impact of changes in the business environment and make recommendations to ensure appropriate processes are implemented and maintained. Your responsibilities will also include, but are not limited to the following:

  • Managing a team of professionals and lead the collaboration and oversight of the effort supported by our outsource partner. Plays a key role in creating a collaborative and inclusive culture by working closely with outsourced vendors and other areas within the Controllers Organization to build trust through increasing understanding of and respecting differences
  • Ensures the accurate, timely completion of monthly, quarterly and annual accounting close cycles for complex insurance accounting by effectively planning, monitoring, and problem solving
  • Designs and improves the analysis on trends and results, drafting commentary which enables readers to quickly understand the financial results and drivers
  • Effectively collaborates with Treasury, Investment Accounting, Reinsurance Accounting, Strategic Business Partner, Reporting and Corporate Actuarial teams and builds key relationships to maintain expertise in insurance product accounting and related financial impacts. Ensure the accurate, timely and efficient submission of data and analysis required to meet reporting requirements
  • Exhibit strong leadership presence and communications skills in presenting results to various levels of management. This will require thought leadership and entail developing sound accounting practices, efficient processes, and robust control documentation to effectively deliver timely and insightful results.
  • Develops, documents, and assures adherence to an internal control framework, making recommendations to continuously improve the overall control environment. Monitors the control execution of insurance accounting, including accounting performed by vendors ensuring Ensures policies and procedures are adhered to
  • Lead the accounting policy research and implementation for new insurance products or insurance related 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
  • Drives accountability by collaborating with accounting policy and other areas within the Controllers Organization on the evaluation of new GAAP and statutory accounting guidance impacts to the company
  • Demonstrates the technical and leadership competencies and passion for continuous improvement

The Minimum Qualifications

  • Bachelor s degree or equivalent experience
  • Minimum of 8 years of progressive experience in public accounting or large sophisticated corporate environment; 3 years of experience providing insurance accounting, general ledger processing and month end close related matters
  • In-depth knowledge and experience of US GAAP and statutory accounting
  • Experience in best-in-class control execution/documentation
  • Experience in using accounting data and information to analyze and articulate financial results
  • Ability to perform independent research and serve as a key resource for resolution of unique or complex business problems
  • Experience in effectively coach and develop core level accountants and external consultants

The Ideal Qualifications

  • CPA, Master or MBA or equivalent
  • NAIC statutory accounting
  • Strong multi-tasking skills, ability to adapt to change and manage competing priorities
  • Ability to handle complex long-term focused projects and take ownership to drive them through completion
  • Experience working in a Finance transformational setting; driving continuous improvements and efficiencies beyond own scope of responsibility
  • Experience working with insurance accounting and ERP tools (SAP, Cadency, Power BI, Alteryx etc.)
  • Experience working in a Lean Six Sigma environment with strong root cause problem solving experience
  • 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 Insurance 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 nosiness with industry leading pay and benefits

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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.