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Head of Corporate Subsidiaries Controllership
MassMutual
Accounting & Finance
Boston, MA, USA · Springfield, MA, USA
USD 172k-225,700 / year
Posted on Feb 28, 2025
POSITION DESCRIPTION
This Head of Corporate Subsidiaries Controllership leads the team that manages and executes corporate accounting and analysis, develops expense forecasts, and provides oversight of financial reporting outcomes and compensation/benefit plans for MassMutual corporate subsidiaries. This position resides within the Investment Controllership team, a critical within the Controllers Organization which aspires to be best in class financial stewards for MassMutual.
This is an opportunity for an individual who thrives in a highly dynamic and agile accounting and finance environment to collaborate across teams focused on solid execution and improving outcomes. We are seeking an accounting professional who wants to join a highly motivated team of professionals focused on proactively driving the development and execution of process improvement, meaningful analysis and control execution for corporate accounting activities.
This leader will manage a team of MassMutual employees, supported by a team at the Company’s outsourcing partner.
The impact of the role:
This role provides a lens into some of the most critical and valuable parts of the business that are instrumental to MassMutual’s growth, innovation footprint and financial success.
As a member of the Investments Controllership Leadership Team, the incumbent will be involved in shaping the future of the organization, developing tomorrow’s leaders and supporting the on-going growth of our subsidiaries, a key element of our financial strength and business diversification strategy.
Overall Responsibilities:
- Creates an environment whereby the team is inspired, engaged and motivated by identifying opportunities to learn and grow
- Manages priorities effectively and adapt quickly to achieve goals while developing efficiencies and established methods in the process
- Thrives in a complex corporate structure and comfortably switch gears and alter course to adapt to changing circumstances
- Plays a key role in leading a collaborative and inclusive culture by working closely with other Controllers teams, such as the financial close and consolidation team and external reporting to ensure the accurate recognition of accounting for various transactions and events related to the corporate subsidiaries
- Uses professional insight to identify and implement accounting improvements that increase the business value and efficiency of the team
- Initiates and/or leads increasingly complex projects and continuous improvement activities that may span beyond the scope of the team's responsibilities
- Responsible for leading problem solving to improve quality, close cycle times, increase efficiencies, improve employee engagement and customer satisfaction.
- Approves financial results and oversee the external audits of MassMutual’s non-insurance subsidiaries including venture capital, asset management, bank, technology, and holding companies
- Oversees the financial reporting and accounting implications for MassMutual’s non-routine transactions, including partnering with various Corporate Finance groups and creating executive summary artifacts for leadership
- Contributes to the completion of accounting models and transaction memos for financial transactions ensuring accuracy and compliance with the appropriate accounting regulations
- Partners with the Capital Management team to ensure capital transactions are properly reflected with the Company’s subsidiaries
- Responsible for the oversight of the financial reporting impacts of MassMutual’s compensation and benefit plans, including actuarial valuation
- Develops, documents, and assures adherence to an internal controls, policies and procedure that ensures accurate and timely financial reporting
- Makes recommendations to continuously improve the overall control environment, monitoring the control environment of subsidiary accounting, including accounting performed by vendors.
- Effectively collaborates with accounting policy, financial close & consolidations, investment controllership, corporate tax, FP&A, expense management, financial reporting, capital management and other departments, as appropriate.
- Responsible for the close improvement efforts, including development and ownership of oversight model and issue resolution
The ideal candidate would have the following skills, experience and competencies:
- 10+ years of work experience with a track record of increasing responsibility
- Significant knowledge and experience of U.S. GAAP
- Knowledge and experience with U.S. Statutory guidance preferred
- Bachelor’s degree in accounting or finance or related discipline
- CPA required
- Strong analytical skills: ability to analyze financial data sets and tell the story of the data
- Proven ability to complete high quality work efficiently and increase autonomy over time
- Experience with M&A, different types of legal entities, transfer pricing, allocations, and consolidation
- Able to build and maintain strong working relationships across cross-functional groups
- Excellent verbal and written communication skills with the ability to express ideas in and articulate in an organized and persuasive manner to leadership, staff, regulatory bodies, etc.
- Able to work well in a dynamic and agile environment while leading the team in execution of various priorities and related deliverables
- Intellectual curiosity to continue learning and adding breadth and depth to understanding
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Salary Range:
$172,000.00-$225,700.00At 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.