Job Post - 50489659
Job Title Financial Reporting Risk Specialist Employment Type Reference Code
Regular Full-time 0002-NC50489659_001 Location
Springfield STATE ST - MMFG
Company Chartered in 1851, Massachusetts Mutual Life Insurance Company (“MassMutual” or the “Company”) is a leading mutual life insurance company that is run for the benefit of its members and participating policyholders. The Company has a long history of financial strength and strong performance, paying dividends to eligible participating policyholders every year since the 1860s. MassMutual is headquartered in Springfield, Massachusetts and its major subsidiaries include OppenheimerFunds, Inc., Babson Capital Management LLC, Cornerstone Real Estate Advisers LLC, Baring Asset Management Limited and First Mercantile Trust Company. MassMutual Financial Group (“MMFG”) is a marketing name for Massachusetts Mutual Life Insurance Company and its affiliated companies and sales representatives. MMFG is a global, diversified financial services organization providing life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, annuities, investment management, mutual funds and trust services to individual and institutional investors. With whole life insurance as its foundation, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term. MassMutual, or its subsidiaries, also have operations in Asia, Europe and Latin America. MassMutual has maintained some of the highest financial strength ratings in any industry, and is committed to maintaining a position of preeminent financial strength by achieving consistent, long-term profitable growth. In total, MassMutual's worldwide insurance in-force was $503.7 billion at the end of 2011, and assets under management were $443 billion. Premium and other deposits totaled $22.9 billion for 2011. MassMutual is ranked 121 on the 2012 Fortune 500 list and was also named one of Fortunes “Most Admired” companies.
Department This position is with the Financial Reporting Risk group of the Enterprise Risk Management division and is located in Springfield, MA. The FRR group is a team that reports directly to the Chief Risk Officer and is focused on evaluation of internal control over financial reporting. We are in search of an individual to work alongside a high energy team consisting of CPA's, financial professionals, and IT specialists.
Job Summary Works with some direction from senior staff on specifically assigned tasks, such as data gathering and data analysis. Conducts research for risk managers. Supports senior staff with quantitative and qualitative analyses, risk monitoring and reporting.
Role Characteristics • Handles projects or work with defined scope in own discipline and typically has a short-term focus
Job Responsibilities & Requirements Primary responsibility will be to assist Risk Consultants with internal control over financial reporting assessment responsibilities. This position requires a motivated individual with excellent organizational skills and an ability to adapt to changing priorities. This individual must be able to effectively communicate within various levels of the organization and must demonstrate the ability to influence and negotiate to ensure optimal results.
- Works with guidance on small-scale team/unit projects
- Solves problems in own specialty area
- Makes worthwhile improvements to existing programs, and procedures • Makes practical suggestions for improving work processes in own area
- Works for consensus and contributes to achievement of work group goals
- Individual typically has at least 2-5 years of related experience
Examples of expected duties will include but are not limited to:
Perform testing of internal controls over financial reporting in a consistent and high quality way. Testing of controls will be in the investment, insurance, retirement service, corporate and IT groups Perform activities such as process walkthroughs and journal entry testing in an effort to obtain reliance by external auditors Coordinate with other internal controls groups to gain efficiencies and reduce redundancies related to internal controls work Assist in risk assessing, documenting, and reviewing controls, in order to meet all deadlines with consistent and high quality documentation Become an active member of the FRR group by providing input on strategy, plans, communication, etc. Assist in the update andmaintenance of project plans Track issues and update issues database; help to research issues, and contact appropriate resources to validate information Follow up/update other documents and communications such as risk assessment documents, communication plans, milestone documents, summarization of scope issues, etc. Create and conduct training on financial reporting risk and control related topics as needed
This position will require the associate to comply with Babson Capital's Code of Ethics ("Code") pursuant to SEC rules and regulations. In accordance with Code provisions, you will be required to disclose, among other things, personal securities accounts (including household members) and investment transactions directed by you or members of your household in addition to obtaining pre-approval before making certain securities transactions. Babson Capital Compliance may also need to obtain duplicate trade confirmations and account statements from applicable brokers for monitoring purposes. In addition, you will need to make disclosures required by Form ADV.
Winning Ways • Focus on the Customer: Know your customers well; add value with a sense of urgency. • Act with Integrity: Be trustworthy, adhere to high ethical standards and adhere to the letter and spirit of applicable laws, rules, regulations and company policies • Value People: Lead people to success; appreciate diverse backgrounds, ideas and experiences. • Work Collaboratively: Partner with others to achieve results that leverage the right resources • Achieve Results: Focus on winning; consistently exceeds expectations, beat the competition
MassMutual Financial Group is an Affirmative Action/Equal Employment Opportunity Employer (M/F/V/D).
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