MassMutual Director of Derivatives Controllership in Springfield, Massachusetts
Director Investment Controllership- Derivatives (Hybrid)
Controllers Organization of Corporate Finance
Springfield, MA, Boston, MA
We are hiring for either our Boston, MA or Springfield, MA office locations in a Hybrid setting where you will be onsite approx. 2 days per week.*
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 investment accounting activities.
This work schedule is 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 Investment Controllership team is a high-profile team in the Controllers organization, comprised of accounting professionals who oversee our various asset classes and investment activities. The team continues to grow in support of our growing level of assets, key initiatives and special projects. Our team 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 while continuously improving how we work together as a team to make 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.
As a Director of Derivatives you will lead a team that manages and executes investment accounting and controllership processes, and related analysis. Your responsibilities will also include, but are not limited to the following:
Responsible for managing monthly reconciliations between the subledger and trading system for derivatives ensuring the accuracy of the financial statement results as it relates to derivatives
Responsible for review, accuracy and timely completion of derivative footnotes and NAIC schedules
Execute on process re-design as a result of the increase in our hedging strategies and development of analytics for quarterly derivative results
Responsible for investment office support for new hedging strategies in collaboration with Accounting Policy to ensure execution of these results in appropriate GAAP, STAT and reinsurance accounting and reporting for derivatives
Responsible for the partnership with Investment Middle Office on design of operational processes in the subledger that support the derivative accounting
Oversight of TPAs supporting hedge accounting and certain hedging strategies
Responsible for the execution of processes and controls that support hedge accounting
Point of contact for external auditors on all derivative related matters
Perform control functions in compliance with NAIC Model Audit Rule and the Company’s control structure
Perform frequent ad hoc analysis and assist with special projects, as requested
The Minimum Qualifications:
Bachelor’s degree in Accounting or Finance
Minimum 8+ years of relevant experience in Investment Controllership and/or Investment Operations for derivatives with a foundational understanding of the upstream processes and impacts to downstream accounting and reporting
Experience in insurance company Investment GAAP and Statutory reporting
The Ideal Qualifications:
CPA or CFA preferred
Experience in insurance company investment GAAP and statutory reporting
Experience in successful process redesign from system enhancements and conversion
Pro-active, detail oriented, deadline driven; possess excellent documentation and analytical skills
Results oriented, flexible, self-motivated, and able to work in a team environment with limited direct supervision
Solid written and oral communication skills
Proven ability to successfully handle competing priorities and multiple deliverables
What to Expect as Part of MassMutual and the Team
Regular meetings with the Investment 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
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 (firstname.lastname@example.org) and share the specifics of the assistance you need.
Offers of employment are contingent on the completion of satisfactory references, background investigation, and (if applicable) any federal securities law requirements/FINRA regulations (including fingerprinting) and/or passing of a drug screening.
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. (http://www.massmutual.com/global/media/shared/doc/employee_benefits.pdf)
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