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Financial Forecast Consultant
MassMutual
Accounting & Finance
Multiple locations
Posted on Dec 12, 2024
Financial Forecast Consultant
Full-Time
Boston, MA or Springfield, MA
The Opportunity
As the Financial Forecast Consultant for MassMutual’s Life & Other Insurance products, you will work on a fast-paced, collaborative and exciting financial planning and analysis team. You will drive the forecast for MassMutual’s Life and Other insurance financial segments as well as owning the “story” and analysis as the actual earnings emerge. You are accountable for the quarterly GAAP and STAT financial forecasts (balance sheet, income statement and cashflows) for both the inforce segments and distribution channels. This includes the forecasting for all the Life products as well as worksite LTC, disability and health products. You will work to continuously refine the forecast process along with other members across the organization. This role is highly visible across CFO and will drive change in our department and across the entire Finance organization.
The Team
The role is within MassMutual’s Financial Forecasting team in the Financial Planning and Pricing Strategy department. The team drives analysis, insight and education into Mass Mutual’s financial results. The team is a group of highly driven individuals with backgrounds in investments, accounting, actuarial, finance, etc. It is a creative, change-driving area that works very closely to effectively communicate financial results and provide reliable forecasts throughout the organization. These individuals are self-motivated, detailed and “hands-on”, while also sharing their analysis at a level that is understandable. The team offers unlimited career growth as we adapt to the strategic visions that are aligned to continue MassMutual’s strong financial performance reputation. We interact daily with the entire finance organization, in addition to partnering closely with senior leaders and business partners across the company. In advance of each forecast, this individual would work to ensure that (1) assumptions used in the financial forecast use the most relevant and up to date assumptions, (2) all assumptions and inputs are well documented with sufficient audit trail / support, and (3) users of the financial forecast understand and accept assumptions / results.
Work with the Head of Financial Forecasting to:
- Align the forecast assumptions with the most up to date trends and strategic initiatives.
- Construct and communicate the main storylines of each forecast
- Work closely with the Financial Communications and Performance Measurement team, other teams and team members to support the quarterly delivery of the business scorecards and review packages.
- Maintain strong relationships with the actuarial, product development and model governance teams to ensure accuracy and continuity of the forecast
- Effectively identify, utilize and present data in a way that facilitates evidence-based decision-making. Work independently to analyze and recommend forecast assumption changes and model enhancements.
- Analyze P&L, Balance Sheet and key metrics for the Life and Other Insurance segment
- Provide analysis and reporting on Insurance, Asset Fee, and Investment margins and explain changes from prior quarter and forecast
- Assist in identifying the main drivers of actual versus forecast variances
- Analyze and drive all significant forecast metrics: AUM, flows, policy counts etc. Develop new metrics to drive deeper analysis of earnings.
- Drive data requirements, ensure accounting policies are reflected appropriately
- Provide best in class internal and external customer support
The Minimum Qualifications
- Bachelor’s degree in accounting, actuarial science, economics, finance or related discipline
- 8+ years of experience in a financial analysis role while demonstrating increasing levels of responsibility
- Familiarity with predictive forecasting techniques and scenario modeling
- 1+ year of experience with tools such as Anaplan or Alation or Excel or SQL
- Able to travel between Boston, MA, and Springfield, MA as needed
The Ideal Qualifications
- An understanding of various insurance products (ex. Whole Life, Term, Universal Life, Long Term Care and/or disability income).
- High degree of financial acumen such as an understanding of accounting basis (ex GAAP, Statutory), forecasting concepts, tools and reporting.
- Strong analytical skills; ability to analyze financial data sets and tell the story of the data
- Deep knowledge of insurance pricing models, valuation and metrics such as AUM and cashflows
- Be aggressive in seeking knowledge and understanding in the way MassMutual and our products operate.
- Proven ability to complete high quality work efficiently and increase autonomy over time
- Able to build and maintain strong working relationships across cross-functional group
- Excellent verbal and written communication skills with the ability to express ideas in an articulate, organized manner.
- Able to work well under pressure and manage multiple deliverables
What to Expect as Part of MassMutual and the Team
- Regular meetings with the 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-ST1
Salary Range:
$110,400.00-$144,900.00At 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.
Why Join Us.
We’ve been around since 1851. During our history, we’ve learned a few things about making sure our customers are our top priority. In order to meet and exceed their expectations, we must have the best people providing the best thinking, products and services. To accomplish this, we celebrate an inclusive, vibrant and diverse culture that encourages growth, openness and opportunities for everyone. A career with MassMutual means you will be part of a strong, stable and ethical business with industry leading pay and benefits. And your voice will always be heard.
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. We are a company of people protecting people. Our company exists because people are willing to share risk and resources, and rely on each other when it counts. At MassMutual, we Live Mutual.
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 and share the specifics of the assistance you need.
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.