Mutual Opportunities
Director of Cash Management
Springfield, Massachusetts; Boston, Massachusetts
Thank you to our employees for voting us one of the top places to work in Massachusetts for five consecutive years!
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.’
“At MassMutual, finance is the heartbeat of our company. Maintaining financial strength and stability and earning trust are key to how we operate. And as a mutual life insurance company, we don’t have shareholders. This means that our finance team can think long-term when choosing the best paths to fulfill our purpose: helping people to secure their futures and protect the ones they love. We’re looking for dedicated, skilled, creative finance professionals to join us in tackling complex challenges. Here, you’ll have the opportunity to grow your career in a place that values your ideas and invites you to challenge the status quo.”
Job Description
Director of Cash Management
Cash Operations, Controllers, Finance
Full-Time, Springfield, MA or Boston, MA
The Opportunity
As a Director of Cash Management you will be responsible for the continuous review, design and implementation of the Cash Management processes and systems, helping the Controller-Cash Operations to evolve into an increasingly strategic function and effective business partner to the rest of CFO and the organization. You will help accomplish this by leading and supporting our treasury transformation projects, focusing on cash accounting policy and operations, cash position and forecasting, and bank service analysis. You will lead and develop personnel through this journey. You will have significant interaction and partnership with the business payment functions in the MassMutual investment, corporate, and insurance operations business units. You will partner with these business units to support their daily cash flow operations and implement new technological solutions that will facilitate cash management, collections, and payments. You will report to the Head of Cash Management.
The Team
The Controllers Organization is comprised of highly skilled, collaborative problem solvers who are using innovative finance tools to move MassMutual – and the industry – forward. Team members demonstrate high levels of competence in the areas of accountability, agility, leadership and are focused on development. The team culture is collaborative, cross-functional, and uses old and new technologies combined with a focus on work/life balance.
The Impact
The Director of Cash Management will be responsible for, but not limited to the following:
- Lead strategic projects to enhance the company’s cash management capabilities
- Serves as Subject Matter Expert for banking questions, payment methods, cash accounting policy, cash positioning, and forecasting
- Train and develop members of the cash management team and build subject matter expertise in the areas of cash accounting, cash position and forecasting, and bank service analysis
- Attract, develop, empower, and retain top talent for the Cash Management team
- Regularly meet with bank representatives, cultivate relationships, evaluate service and performance, and provide regular and timely feedback about the services and products
- Perform monthly bank fee and services analysis including reporting and metrics
- Coordinate with Treasury and Investment to ensure optimization of banking structures and cash flow to support business (including evolving payment methods and data analysis)
- Support lines of business with the setup and management of their payment systems, including cash flow analysis and process design (Payment method consultation, bank structure, system interfaces from admin system to bank)
- Review, interpret, implement new bank rules and regulations
- Establish and enhance governance and internal control procedures and maintain and consistently improve upon a strong control environment
The Minimum Qualifications
- BS in business, economics, accounting or finance
- 5+ years of relevant cash management/finance experience
- 3+ years of personnel management experience
The Ideal Qualifications
- MBA or equivalent preferred
- Certified Treasury Professional (CTP) or Accredited ACH Professional (AAP) preferred
- 8+ years of progressive cash management experience
- Experience with bank relationships and offerings as well as various banking operations best practices, tools and technology
- Experience working with a Treasury Management System, Kyriba preferred.
- Cash Flow and bank balance analysis and optimization
- Ability to work with all levels of personnel, from staff to executive management
- Ability to work independently and manage multiple projects and deadlines
- Strong computer aptitude, which includes expertise with Microsoft Excel and Word
- Strong analytical and problem-solving abilities
- Strong attention to customer service and quality results
- Ability to build relationships and collaborate on improvements
- Monitor key controls to mitigate risk
What to Expect as Part of MassMutual and the Team
- Regular meetings with the Cash Operations Team
- Focused one-on-one meetings with your manager
- 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-MM1
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.
MassMutual will accept applications on an ongoing basis until such time as a candidate has been offered employment. The job description includes the main duties of this position, which may evolve over time. You may be required to perform other duties not listed.
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment.
Salary Range: $118,900.00-$156,000.00
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 build 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.
where we work
Springfield Office
1295 State Street, Springfield, MA
Boston Office
10 Fan Pier Blvd, Boston, MA
New York Office
2 Park Ave,
New York, NY
Virtual
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