Associate, Tax Planning
Financial Statement Optimization (FSO) is a new team within Financial Planning and Analysis composed of professionals with diverse backgrounds in actuarial science, capital management, consulting, investment banking and tax planning, among other disciplines. FSO is responsible for identifying and executing opportunities to optimize MassMutual’s financial position and results and to create enduring value through capital markets transactions, reinsurance, structured transactions, tax planning and similar initiatives. FSO is a vital partner to MassMutual’s enterprise strategy, corporate development and competitive market intelligence team.
FSO is also building an enterprise cost of capital framework and developing returns measures, including return on equity and return on invested capital, to inform future capital allocation and planning.
Tax planning is a core component of the FSO solution. The Associate will assist the Tax Planning Leader with various U.S. and international tax planning projects, including reorganizations, strategic business initiatives and other actions that affect MassMutual’s income tax provision.
This is a unique opportunity for in-depth technical training. Development will be a key focus in this role as we look to broaden our tax planning expertise in FSO. The Associate will spend a significant amount of time on research and in 'shadowing' the Tax Planning Leader in support of this goal. A high degree of intellectual curiosity and creativity are required to be successful in this position.
This individual should excel at working collaboratively and across functions with both peers and leaders within and outside the finance function. This individual needs to be able to distill and translate complex tax and financial issues into 'plain English' while answering the 'so what?'. Finally, things move very quickly at MassMutual and especially within Financial Planning and Analysis, and so this individual must be able to 'roll with it'.
- Assist tax planning leader in internal and external reorganizations, tax planning and tax consulting initiatives
- Research tax legal and tax accounting impacts and document conclusions in writing
- Prepare tax impact models and work closely with the tax compliance group to ensure proper reporting of tax planning initiatives and non-routine transactions
- Draft tax technical and accounting memorandums for highly significant transactions and planning initiatives
- Meet with external auditors to present and discuss impacts of planning and potential transactions on MassMutual’s tax returns and income tax provision
- Prepare related tax return disclosure documents
- Focus on continuous learning and keeping up-to-date on all relevant tax law changes
- Identify tax related risks and opportunities
- MBA and-or JD with significant tax consulting experience
- 'Big 4' accounting or major law firm experience preferred
- Knowledge of U.S. international tax law is a plus
- Desire to develop knowledge and skills while assisting the tax planning leader in the near-term with the ultimate goal of assuming leadership responsibilities in the future
- Strong analytical and organizational skills
- Ability and desire to work in a team environment with leaders from functional areas outside of the Tax Department
- Significant knowledge of ASC 740 tax accounting concepts
- Proficient in Microsoft Excel, PowerPoint and Word
- Excellent verbal and written communication skills, including prior experience writing tax memorandums, with the ability to express ideas in an articulate, organized and persuasive manner
- Able to work well under pressure and manage multiple deliverables
- Experience working closely with tax attorneys is also a plus