Accounting Corporate Close Process Manager
Company: MassMutual
Location: Hartford
Posted on: November 12, 2024
Job Description:
Accounting Corporate Close Process ManagerClose and
Consolidation TeamFull-timeBoston, MA or Springfield, MAThe
OpportunityAs Manager of the Corporate Close process, you will have
impact through your oversight of the financial statement close
process on a monthly and quarterly basis for a large complex Life
Insurance organization with a number of subsidiaries on two bases
of accounting: US GAAP and Statutory. You will be responsible for
producing communication to management with insightful commentary on
the quality of results as those emerge throughout the close
providing a first glance into those and enabling strategic
decision-making process. You will also have the ability to lead
various initiatives related work focusing on increasing efficiency
and adding value, while continuing to develop your project
management skills.This is an opportunity for an experienced
accounting professional who thrives in a highly dynamic and agile
environment to collaborate across teams seeking solid execution and
improving outcomes.This is an Individual Contributor role and will
not be a people manager.The TeamThe Close and Consolidation team is
a high-profile team in the Controller's organization comprised of
talented accounting professionals who possess diverse ranges of
experiences and backgrounds. Overall responsibility for our team is
the month end and quarterly close consolidation process and
oversight of general ledger. Our team has a high business acumen
and 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. We
strive to continuously improve and achieve results by actively
listening, seeking, understanding and creating solutions as a
unified team. The team continues to grow due to the growing number
of projects and initiatives that we are part of. -The
Impact:Overall responsibility for administration and oversight of
the financial statements close process for MassMutual; including
executing on related controls. You will demonstrate accountability,
agility, a dedication to be inclusive, strong business acumen, and
will show courage, even in the most difficult situations. Effective
communication skills will be key to successful
relationship-building and articulating the reasoning and bases for
your recommendations and conclusions. You will demonstrate an
inquisitive approach, asking probing questions to identify issues
with specificity.
- Manage tasks related to corporate financial statement close
process including:
- Facilitating and administering the corporate close process,
while maintaining effective controls
- Owning daily corporate close meetings and understanding process
interdependencies
- Assuming responsibility for late journal entry tracking
process, including evaluating financial statements impact of those
entries
- Conducting corporate close debrief meetings subsequent to each
cycle to identify opportunities for process optimizations/
improvements post-mortem
- Clearly articulate the status of financial close process to
leadership on a regular cadence including highlighting any upstream
and downstream dependencies and impact of those to the overall
close process timeline
- Manage enterprise close task management tool process.
- Assist in production of financial results summary (US GAAP,
Statutory and Management Reporting) as those emerge throughout the
close cycle.
- Effectively communicate results as those emerge to management
in enabling timely strategic decision making.
- Assist in design and operationalize the process of producing US
GAAP basis income statement estimation to share with management
throughout the corporate close cycle quarterly.
- Identify and monitor any control deficiencies related to
corporate close process, including designing and overseeing timely
and effective remediation procedures.
- Own the process of quarterly administration of management
letter of representation collection and review process.
- Provide management and oversight of offshore resources.
- Contribute to our successful transition to new technology
solutions to automate and improve our processes.
- Successfully manage multiple priorities, communicate and
collaborate effectively with various stakeholders across
organization, including members of leadership team, and deliver on
your commitments.
- Designs and improves the analysis on trends and results, use
strong business acumen and communication skills collaborating with
peers and other departments to draft commentary which enables
readers to quickly understand the consolidated financial results on
GAAP and Statutory basis and drivers.
- Effectively collaborates with Treasury, Investment Accounting,
Insurance Accounting, Corporate Tax, Strategic Business Partner,
Reporting and Corporate Actuarial teams and builds key
relationships to maintain expertise in insurance accounting and
related financial impacts.
- Exhibit strong leadership presence and communications skills in
presenting results to various levels of management. This will
require thought leadership and entail developing sound accounting
practices, efficient processes, and robust control documentation to
effectively deliver timely and insightful results.
- Adds value to the enterprise through close collaboration and
partnership with other MassMutual business units and corporate
functions to ensure the accurate, timely and efficient execution of
the corporate financial statement close process.
- Develops, documents, and assures adherence to an internal
control framework that ensures accurate and timely financial
reporting. Makes recommendations to continuously improve the
overall control environment. Monitors the control execution of
financial statement close process. Ensures policies and procedures
are adhered to.
- Drives accountability by collaborating with accounting policy
and other areas within the Controllers Organization on the
evaluation of new GAAP and statutory accounting guidance impacts to
the Company's financial close and consolidation processes.
- Provides sound financial advice to business units or other
departments, anticipating the financial statement impact of changes
in the business environment and making recommendations to ensure
appropriate processes are implemented and maintained.
- Understands how data flows through the financial systems to the
accounting function, planning appropriately for changes and
prioritizing and implementing enhancements.
- Plays a key role in creating a collaborative and inclusive
culture by working closely with outsourced vendors and other areas
within the Controllers Organization to build trust through
increasing understanding of and respecting differences.
- Uses professional insight to identify, initiate and/or lead
initiatives and continuous improvement activities that increase
efficiency and add value. Leads problem solving to improve quality,
reduce close cycle times, improve team collaboration and improve
customer satisfaction.
- Effectively collaborates with internal and external auditors
and provides complete and accurate source document information,
including control execution documentation and support.
- Demonstrates technical and leadership competencies and passion
for continuous improvement.The Minimum Qualifications
- Bachelor's degree
- 8+ years of relevant experience in public accounting or large
sophisticated corporate environment (at least 4+ years providing
life reinsurance or life insurance accounting, general ledger
processing, reporting or month end close related matters)
- 4+ years knowledge and experience of STAT and US GAAP
accountingThe Ideal Qualifications
- Masters or MBA or equivalent
- CPA
- NAIC statutory accounting
- Experience in best-in-class control
execution/documentation
- Experience in using accounting data and information to analyze
and articulate financial results
- Ability to perform independent accounting research and serve as
a key resource for resolution of unique or complex business
problems
- Experience in effectively coaching and developing core level
accountants and external consultants
- Strong multi-tasking skills, ability to adapt to change and
manage competing priorities
- Ability to handle complex long-term focused projects and take
ownership to drive them through completion
- Experience working in a Finance transformational setting;
driving continuous improvements and efficiencies beyond own scope
of responsibility
- Lead the collaboration efforts between Close and Consolidation
team and other internal or external stakeholders to achieve results
and improve satisfaction
- Experience working in a Lean Six Sigma environment with strong
root cause problem solving experience
- Intellectual curiosity to continue learning and adding breadth
and depth to understandingWhat to Expect as Part of MassMutual and
the Team
- Regular meetings with the Corporate Finance 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-CR37MassMutual 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.
Keywords: MassMutual, Westport , Accounting Corporate Close Process Manager, Executive , Hartford, Connecticut
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