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MassMutual Accounting Associate II in Springfield, Massachusetts

The Opportunity

As an Accounting Associate in the Controllers Organization of Corporate Finance, you will join us as we continue our progress towards becoming the 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. You will thrive in a highly dynamic and agile accounting environment to collaborate across teams seeking solid execution and improvement of outcomes. You will be a key contributor on the team that manages and executes reinsurance accounting and analysis, including oversight of financial reporting outcomes of MassMutual’s reinsurance programs. As an Accounting Associate, you will 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 reinsurance accounting activities. We look forward to returning to the office in a hybrid structure to maximize collaboration and flexibility, blending time working remotely and in the office at either our Boston, MA or Springfield, MA locations.

The Team

The Reinsurance 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. Overall responsibilities for our team include analysis of reinsurance programs on a USGAAP and Statutory basis, close activities, and general support of the reinsurance programs Our team strives to have high business acumen and is driven to provide timely, accurate and insightful 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 Company’s reinsurance growth and the growing number of projects and initiatives that we are part of.

The Impact

As an Accounting Associate, you will have impact through your contribution to oversight of the reinsurance accounting, analysis and reporting execution and controls for financial closes. 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 reinsurance and insurance product accounting and related financial impacts. Your responsibilities will include, but are not limited to the following:

  • Treaty set up – Supports the development of comprehensive accounting models for Day 1 and Day 2 accounting. Support the completion of accounting conclusion memos. Ensures access to data to support ongoing reporting (to reinsurers) and accounting

  • Settlement files- Creates settlement files leveraging data from the admin systems, ledger and data lake. Initiates cash settlement

  • Accounting – Completes journal entries and verifies results in the ledger using information from the settlement file, and other teams within the Company/CFO. Contributes to the accurate, timely completion of accounting close cycles for complex reinsurance accounting by effectively planning, monitoring, and problem solving

  • Reporting – Participates in the drafting of new transaction footnote disclosures, completes the disclosure checklist for reinsurance, and provides data/templates for financial statements and blue books

  • Analysis – Completes comprehensive analysis on both USGAAP and statutory basis, including all related balances. Analyze trends and results, use strong business acumen and communication skills collaborating with peers and the other departments to draft and contribute to commentary which enables readers to quickly understand the financial results and key drivers

  • Effectively collaborates with Treasury, Investment Controllership, Insurance Controllership, Strategic Business Partner, Reporting and Corporate Actuarial teams and builds key relationships to become an expert in reinsurance accounting and related financial impacts

  • Supports the Financial reporting team in providing complete and accurate accounting information such as financial statements, footnote schedules, regulatory reports and other management reports

  • Efficiently captures, executes and documents controls for Reinsurance Controllership activities and makes recommendations to continuously improve the overall control environment

  • Contributes to the accounting policy research and implementation for new reinsurance transactions ensuring accuracy and compliance with accounting regulations

  • Assist in research and implementing new statutory and GAAP accounting guidance

  • Contribute to initiatives and continuous improvement activities that increase efficiency and add value

  • Play 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

  • 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 experience in public accounting or working in large, sophisticated corporate environment

  • Knowledge of GAAP accounting

The Ideal Qualifications

  • 5 years relevant experience

  • CPA or progress toward CPA

  • Experience in identifying internal control issues and remediation efforts

  • Experience in performing accounting, general ledger processing and close related matters

  • Experience in using accounting data and information to analyze and articulate the financial results

  • Experience working with accounting and ERP tools (SAP, Cadency, Power BI, Alteryx etc.)

  • Experience root cause problem solving

  • 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 Reinsurance 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

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.