MassMutual
We help people secure their future and protect the ones they love.
Hybrid

Insurance Accountant

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The Opportunity

 

 

At MassMutual, we're passionate about helping millions of people find financial freedom and this passion has driven our approach to developing highly interactive digital experiences for our customers. This position resides within the Controllers Organization of Corporate Finance 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 seeking solid execution and improving outcomes. This is an opportunity for an experienced accounting professional who wants to continue to learn and develop as part of 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 accounting activities.

 

 

The Team

 

What great looks like in this role

Our ideal candidate is knowledgeable about insurance accounting and the insurance industry. You'll use your skills to help us improve our insurance accounting analysis and control environment.

In this role, as well as all roles within MassMutual, you will demonstrate accountability, agility, a dedication to be inclusive, strong business acumen, and willingness to show courage, even in the most difficult situations. Effective communication skills will be key to successful relationship-building and articulating the reasoning and bases for your recommendations and conclusions. You will demonstrate an inquisitive approach, asking probing questions to identify issues with specificity.

Objectives of this role and the team

Overall responsibility for insurance accounting supporting financial statements and regulatory filings for MassMutual; including related controls. Responsible for accounting oversight of ledger accounting and interactions with admin systems and the business.

 

The Impact:

 

What success looks like.

  • Contribute to oversight of the insurance accounting execution and controls for monthly and quarter-end closes.
  • Contribute to the various initiatives to increase efficiency and add value, using project management and accounting skills.
  • Key competencies for success include accountability, business acumen, agility, and communication.
  • Ability to build key relationships through the organization to become an expert in insurance product accounting and related financial impacts

Daily and monthly responsibilities

  • Efficiently captures and executes controls for insurance financial activities and transactions.
  • Ensures the accurate, timely completion of monthly, quarterly and annual accounting close cycles for complex insurance accounting by effectively planning, monitoring, and problem solving.
  • Contributes to the completion of the insurance 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 vendors that provide accounting services to the Company.
  • 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 insurance 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, corporate actuarial, tax, financial reporting, capital management and strategic business partners.
  • Implements new statutory and GAAP insurance accounting requirements and determines the accounting process for new insurance products and insurance 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.
  • Deepen knowledge of the closing process.
  • Respond to auditor requests for source document information, including control execution documentation and support.

 

The Minimum Qualifications

  • Bachelor's degree or equivalent experience
  • Minimum of 3 years' experience in public accounting or working in large, sophisticated corporate environment
  • Experience in identifying internal control issues and remediation efforts.
  • Knowledge of GAAP accounting
  • Must be authorized to work in the United States, without requiring sponsorship, both now and in the future.

 

The Ideal Qualifications

  • CPA or progress toward CPA preferred
  • Knowledge of NAIC Statutory accounting
  • Experience in public accounting or working in large, sophisticated corporate environment providing insurance accounting, subsidiary ledger processing and related insurance matters.
  • 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 insurance process resign and improvements.
  • Experience using insurance data and information to analyze and communicate the implications of insurance accounting and ERP tools (SAP, Cadency, 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 Insurance 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

 

(#LI-SE1)

 

About MassMutual

 

We've been around since 1851. During our history, we've helped millions of people find financial freedom, offer financial protection, and plan for the future.

Today, we continue to develop meaningful relationships with our customers by building their trust, being knowledge problem solvers and always prioritizing their needs. MassMutual is guided by a single purpose: 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.

 

MassMutual was recognized as an Ethisphere 2020 World's Most Ethical Company, a Top Place to Work in 2020 according to The Boston Globe and named among America's Best Employers for Diversity according to Forbes 2020. MassMutual ranks No. 84 on the Fortune 500 list of largest companies.

 

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

 

 

 

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.

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What are MassMutual Perks + Benefits

MassMutual Benefits Overview

At MassMutual, employees have the opportunity to earn a competitive salary and bonus, enroll in an
array of benefits, and participate in programs and services that support healthy lifestyles, assist them
in building financial security for themselves and their families and help them live well-balanced lives.

Culture
Volunteer in local community
Every action supporting a common cause is meaningful, and our employees make a difference in their own communities through our Matching Gift, Matching Time and Volunteer Time Off Programs.
Partners with nonprofits
Every year, MassMutual and the MassMutual Foundation invest more than $20 million focused on advancing economic opportunity. https://www.massmutual.com/about-us/corporate-responsibility/foundation
Open door policy
OKR operational model
Team based strategic planning
Open office floor plan
Employee resource groups
Employee-led culture committees
Hybrid work model
In-person all-hands meetings
Employees can either attend the in-person all-hands meeting, watch live via Zoom, or watch the recording. All employees are invited to submit questions.
Employee awards
Flexible work schedule
Flexible work arrangements, including telecommuting, are available in many departments across the company.
Remote work program
In addition to two remote days per week, MassMutual offers employees four full remote weeks of their choice per year.
Diversity
Documented equal pay policy
Dedicated diversity and inclusion staff
Highly diverse management team
More than half of our Board of Directors are comprised of women and people of color, making it one of the most diverse groups in the industry.
Mandated unconscious bias training
Diversity manifesto
Diversity employee resource groups
Hiring practices that promote diversity
Diversity recruitment program
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
A health care flexible spending account (FSA) allows employees to save money on a before-tax basis for eligible medical, dental and vision expenses, subject to IRS limits.
Disability insurance
For details on short term and long term disability insurance please visit https://www.massmutual.com/-/media/files/employee_benefits.pdf
Dental insurance
Basic Dental covers preventive and basic restorative care; Major Dental covers all that Basic covers, plus restorations and orthodontia (limits apply).
Vision insurance
Health insurance
To learn more about our Health and Welfare Benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf
Life insurance
For more information about our Life Insurance Benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf
Pet insurance
Wellness programs
Team workouts
Mental health benefits
Transgender health care benefits
Wellness days
Abortion travel benefits
Our general medical travel benefit covers abortion-related travel.
Financial & Retirement
401(K)
In addition to our 401(k), MassMutual a cash balance plan that provides an account-based pension benefit based on accruals of pay credits and interest credits.
401(K) matching
Performance bonus
Charitable contribution matching
Every action supporting a common cause is meaningful, and our employees make a difference in their own communities through our Matching Gift and Matching Time Programs.
Pay transparency
Child Care & Parental Leave Benefits
Childcare benefits
Dependent care flexible spending account to allow you to set aside before tax dollars to pay for certain eligible child care expenses.
Generous parental leave
Leave for birth mothers of 18 weeks of fully paid leave. Non-birth mothers, fathers and adoptive parents eight weeks of fully paid parental leave.
Family medical leave
Caregiver leave: Up to two weeks paid leave to care for a loved one. Bereavement Leave: 15 days of paid time off to grieve the loss of a loved one with the employee defining who the loved one is.
Adoption Assistance
Company sponsored family events
MassMutual offers many opportunities for family events, from group volunteer experiences and chances to attend Red Sox games to business resource group-sponsored outings like annual pride parades.
Fertility benefits
Vacation & Time Off Benefits
Generous PTO
Paid holidays: 9 fixed and 1 floating. Vacation: starts at 19 vacation and personal days per calendar year, with increases at 5-year service intervals.
Paid volunteer time
Three days of paid time off is available to employees annually to give back to their communities, by sharing their time and talent with a cause close to their heart.
Paid holidays
Paid sick days
Occasional illness: up to 5 days per calendar year.
Flexible time off
Floating holidays
Bereavement leave benefits
Hardship benefits
320 hours of caregiver leave to take of loved ones when it matters most.
Office Perks
Commuter benefits
Free daily meals
Free snacks and drinks
Some meals provided
Onsite office parking
Recreational clubs
Relocation assistance
Fitness stipend
Home-office stipend for remote employees
MassMutual's wellness wallet is a stipend available to all employees, and can be used for myriad wellness-related purchases, including home-office purchases.
Meditation space
Mother's room
Onsite gym
Professional Development Benefits
Job training & conferences
Tuition reimbursement
Lunch and learns
Promote from within
Mentorship program
Continuing education stipend
Continuing education available during work hours
Online course subscriptions available
Customized development tracks
Paid industry certifications
Personal development training
Virtual coaching services

Additional Perks + Benefits

To learn more about our comprehensive benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf

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