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Investment Accounting Associate II - Derivatives

New York, New York; Boston, Massachusetts; Springfield, Massachusetts
Job Category Finance & Accounting ID R16789
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Overview

Finance and Accounting is at MassMutual’s core, and our team is ushering in an era of growth. We are looking for bold ideas, creative solutions, and comfort embracing change. We strive to build a diverse team and leverage different points of view to optimize processes and build strong relationships.

Our team is motivated by challenging work that delivers substantial impact in a culture of accountability and collaboration. We treat policyowners and customers fairly and prioritize financial stability. Being part of a mutual company means that our teams can think long-term, and employees can dive deep into the complex structure of products and the organization.

Our finance teams are experts in their field and thrive in fast-paced environments. They balance the needs of the business and invest in the long term, while always putting the customer first. They align their work with our live mutual philosophy and strive to always make the right choice for our policyowners. We are building a team that truly embodies ‘together we move forward.’

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Betsy Ward
Betsy WardChief Financial Officer
“Our finance team brings an incredible suite of skills to the table and they are applying that expertise to company-wide analysis and strategy. Right now, we have a lot of opportunities where people can make a difference. We’re looking for people who can help write our next chapter.“

Job Description

Investment Accounting Associate II - Derivatives
Investment Controllership
Full-Time
New York, NY or Springfield, MA or Boston, MA


The Opportunity
This Investment Accounting Associate II role is a newly created position that will be a key addition to our Investment Controllership team.  The position reports to the Director of Derivatives Controllership and resides within the Financial Controllership team, a critical team 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 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 improvements, meaningful analysis and improved coordination with the business partners for Investment activities.


The Team
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.

MassMutual is seeking a candidate to join investment accounting and controllership for derivatives across our various insurance and non-insurance entities, which entails ensuring the accuracy of the investment results across various derivative strategies on a GAAP and statutory basis. This position will also support continued process enhancements related to achieving an accelerated close that produces timely, accurate and complete investment accounting results in an efficient manner. All candidates must, in addition to possessing the specific qualifications cited below, work well within a complex, fast-paced, fluid environment, and strong organizational and interpersonal skills.


The Impact

  • Fosters 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 Investment Management
  • Actively participate in the implementation of the Company’s key projects
  • Responsible for ongoing activities as part of the monthly, quarterly and annual close cycles
  • Uses professional insight to identify and implement accounting improvements that increase the business value and efficiency of the team.
  • Initiates increasingly complex continuous improvement activities.
  • Participating in problem solving to improve quality, cycle times, increase efficiencies, improve employee engagement and customer satisfaction within the Investment Controllership team.
  • Makes recommendations to continuously improve the overall control environment of the Investment Controllership team.

The Minimum Qualifications

  • Bachelor’s degree in Accounting, Finance or related major
  • 4+ years of related work experience with a track record of increasing responsibility
  • Financial reporting experience in derivatives including, but not limited to, various types of swaps, options, and futures

The Ideal Qualifications

  • 6+ years of related work experience
  • CPA, CMA or equivalent designations preferred
  • Experience in insurance company investment GAAP and Statutory accounting including Schedule DB
  • Experience with derivative software such as Murex or Calypso and Investment software such as Aladdin
  • 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 analyzing new investments and accounting guidance to drive appropriate and preferred investment accounting and reporting across the Company and subsidiaries
  • 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 assisting the team in execution of various priorities and related deliverables
  • Intellectual curiosity to continue learning and adding breadth and depth to understanding

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

#LI-CR37

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.
EEO Statement (Opens in new window)

MassMutual will accept applications on an ongoing basis until such time as a candidate has been offered employment.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment.


Salary Range: $95,100.00-$124,800.00
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Hiring Process

Explore

Explore our open jobs by clicking 'search jobs' to find a position that aligns with your experience and skills. You may also consider joining our Talent Network.

Apply

Click the “apply” button on that job posting to complete and submit your application. Your application will be reviewed by a recruiter, which, due to the volume of applications received, may take some time as we carefully consider each application.

Screen

After your application has been reviewed, if you meet the qualifications for the role, a recruiter will reach out to you to start a conversation.

Interview

If you are invited for an interview, you will be scheduled to meet with the hiring manager and hiring team.

Offer

If you are extended an offer to join MassMutual and accept, your start will be contingent upon a satisfactory background check.

Hire

If you accept the offer, we will be so excited to welcome you to the MassMutual community!

If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.

By the numbers*

  • 88% of employee respondents say they are proud to work at MassMutual
  • 90
    %
    of employee respondents say they feel encouraged to bring forth new ideas
  • 86% of employee respondents say MassMutual cares about and supports the well-being of their employees

*Source: 2024 MassMutual employee engagement survey

Award-Winning Culture

MassMutual is guided by a single purpose: We help people secure their future and protect the ones they love. As a company operated for the benefit of our members and participating policyowners, we are defined by mutuality and our vision to provide financial well-being for all Americans. 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.

We strive to embrace diversity in every sense, focusing on building a thriving community where everyone is valued, included, and feels that they belong.

At MassMutual, we Live Mutual.

How We Work

MassMutual’s flexible workplace approach combines the importance of connecting in person and the flexibility of working remotely. Our hybrid model puts collaboration first with employees coming in at least three days per week to our spectacular campus settings and also enjoying the flexibility of remote Fridays, company-wide remote weeks, and a bank of flexible remote weeks to use throughout the year.

Benefits for the whole you (and your loved ones)

There’s more to your life than your job and there’s more to your aspirations than a paycheck. We take a holistic view of compensation and benefits that provides the flexibility to create a healthy balance in your life for work, family, and community. We offer the benefits you’d expect, like medical, dental, 401(k), and generous vacation time, but we also offer ones you might not expect, like three paid days for volunteering, a $1,250 annual Well-Being Wallet, and up to 320 hours of caregiver leave.

Explore some of our offerings below. Benefit details can be found here.

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Paid Time Off

  • In addition to generous vacation time, paid holidays, and flexible holidays, MassMutual offers 'take care' time to care for yourself or someone you love—whether for physical illness or mental health.
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Health & Well-Being

In addition to top-line medical and dental coverage, personalized mental health solutions, on-site and virtual health coaching, and much more, MassMutual reimburses employees up to $1,250 per year for eligible expenses supporting mental, physical, and financial well-being.

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Financial Well-Being

In addition to competitive salaries and bonuses, educational assistance programs, and much more, MassMutual offers up to a 10% total 401(k) benefit, consisting of a 5% company match and a 5% annual contribution.

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Taking Care

MassMutual offers generous maternity and parental leaves, as well as bereavement leave to mourn the loss of a loved one (and the employee defines 'loved one'). In addition, we offer up to 320 hours of caregiver leave to help employees support loved ones in times of need.

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Giving Back

MassMutual offers three paid days for employees to volunteer with eligible nonprofits of their choice, and the MassMutual Foundation matches employee donation dollars to eligible nonprofit organizations up to $5,000 annually.

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Commuter Benefits

MassMutual offers a Qualified Commuter Program through which eligible employees can pay qualified workplace commuting expenses with before-tax dollars, as well as a commuter wallet option for employees based at Boston and NYC campuses.

where we work

Springfield Office

Springfield Office

1295 State Street, Springfield, MA

Boston Office

Boston Office

10 Fan Pier Blvd, Boston, MA

New York Office

New York Office

2 Park Ave,
New York, NY

Virtual

Virtual

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