Investment Accounting Associate I (Hybrid)

MassMutual

Boston, Massachusetts

Date Posted November 23, 2022
Industry Tax
Specialty Not Specified
Job Status Full-time
Salary Not Specified

Description:

Investment Accounting Associate I

Controllers Organization of Corporate Finance

Full-Time

Boston, MA or Springfield, MA

The Opportunity

As an Accounting Associate in our Investment Accounting area, you will be a key contributor on the team that manages and 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 investment 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 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

As an Accounting Associate 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 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 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. Your daily/monthly responsibilities will include, but are not limited to the following:

  • 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.
  • 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.
  • Supports the Financial reporting team in providing accounting information such as financial statements, footnote schedules, regulatory reports and other management reports.
  • Effectively collaborates with accounting policy, the chief Investment office, tax, financial reporting capital management and business unit controllers.
  • Implements new statutory and GAAP investment accounting requirements and determines the accounting process for new investments and investment related transactions.
  • 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. Responsible for leading problem solving to improve quality, close cycle times, increase efficiencies, improve employee engagement and customer satisfaction.

The Minimum Qualifications

  • Bachelor’s degree or equivalent experience
  • At least 2 years of related 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 STAT and GAAP accounting
  • Preferred experience working with and supporting several corporate units.
  • Preferred experience working in a Lean Six Sigma environment with strong root cause problem solving experience.
  • Ability to partner with and influence business leaders and peers in investment process resign and improvements.
  • Experience using investment data and information to analyze and communicate the implications of investment accounting and ERP tools (SAP, Hyperion, NetSuite, 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 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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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.