Senior Accountant
Massachusetts Mutual Life Insurance Company - Springfield, MA

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TITLE: Senior Accountant

LOCATION: MassMutual - 1295 State Street

COMPANY BACKGROUND:
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:
Corporate & Financial Reporting

JOB SUMMARY:
As a key member of the Partnership Accounting and Investment Disclosures team, the Senior Accountant will work with the Corporate Units, Babson Capital Management, Cornerstone Real Estate Advisers and other investment managers and subsidiaries to support the implementation of and/or the accounting for various investment-related topics related to MassMutual and its portfolio. The Accountant will monitor controls to ensure accuracy of MassMutual and its subsidiaries investments in partnerships, limited partnerships, limited liability corporations, and joint ventures, will apply investment and accounting knowledge and statistical and other technical skills to communicate overall drivers for portfolio income and loss, will be required to familiarize themselves with disclosure changes, and support the implementation of new accounting pronouncements and regulatory changes under the direction of Management/Accounting Policy.

ROLE CHARACTERISTICS:
  • Seasoned individual capable of handling broad scope projects that have short to medium-term focus
  • Works with guidance on more complex projects
  • Capable of applying knowledge to handle all but the most complex problems independently
  • Anticipates change and directs or redirects efforts
  • Looks for and finds ways to improve operations
  • Individual typically has at least 5-7 yrs of related experience
JOB RESPONSIBILITIES & REQUIREMENTS:
This position requires a broad knowledge of accounting practices and procedures (ie: Partnership, STAT and GAAP
accounting) and the Accountant will be required to conduct more complex assignments with limited supervision. Type of work includes processing transactions via FAM (Financial Asset Management) system through to the ledger accounts and related activities for the production of monthly Partnership financial control reports and STAT or GAAP footnotes. Work independently and with management and/or other team members on departmental projects. Provide advice and support to Manager on an ongoing basis. Enforce standards for accounting practices and procedures and interpret and disseminate accounting information to management. A successful candidate must be able to work under pressure, accurately and with limited supervision and must be able to professionally represent the investment accounting area to before mentioned units, internal and external auditors, and management through the VP level of the Controller organization.

Responsibilites will include:
  • Complex Financial Reporting Compilation and review
  • Financial Accounting Review & Analysis
  • Project Management
  • Interpret and Implement Accounting Policies
  • Prepare, Implement and Review internal controls
  • Understand and comply with External Regulations
  • More complex Account Reconciliation, preparation and review
  • Cash Flow Management
  • Coordinate and respond to Audit requests
  • Complex Journal Entry preparation and review/approve
  • Compile Financial Planning and Forecast
  • May provide input and support Accounting Strategy
Requirements:
5-7+ years of directly relevant experience
BS Accounting/Finance
Big 4 or Regional firm CPA highly desired

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.

This position will require the associate to comply with MassMutual ’ s Investment Portfolio Standards of Conduct Policy ( “ IP Standards ” ). In accordance with the IP Standards, you will be required to disclose, among other things, your personal securities accounts. MassMutual Corporate Compliance may also need to obtain duplicate account statements from applicable brokers for monitoring purposes.

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
COMPENSATION:
We pay competitive base salaries and we reward performance. Our salary structure is commensurate with experience. In addition, you will be eligible to participate in our comprehensive benefits program including medical insurance and 401(K).

If you would like to apply to this position please click on the URL and enter the job post number nc
50450613

using the “Keyword Search” function.

https://recruit.massmutual.com/sap/bc/webdynpro/sap/zhrrcf_a_unreg_job_search

In addition, if you would like to learn more about MassMutual, please visit www.massmutual.com .

MassMutual is an Equal Employment Opportunity employer M/F/D/V. We welcome all persons to apply.

If you feel you need an accommodation to apply for one of our open positions, please contact us at (413) 744-6825.

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About this company
119 reviews
MassMutual's business structure is built to support its mutual ownership. MassMutual’s strategic investments in...