Director of Finance Banking Operations
The Opportunity
As the Director of Finance Banking Operations you will be responsible for the successful coordination, planning and execution of central insurance cash operations and initiatives in Finance.? You will have significant interaction and partnership with the business payment functions in the MassMutual insurance operations business unit as well as with the Corporate Treasury team within Finance. You will partner with the various business units to implement new technological solutions that will facilitate cash management, collections and streamline the processing of transactional cash movement.? As the Director of Finance Banking Operations you will lead a team and report directly to the Head of Cash Operations.
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 Finance Banking Operations will be responsible for, but not limited to the following:
- Coordination with Treasury to ensure optimization of banking structures and cash flow to support business
- Bank & protect operating cash of the company and subsidiaries
- Maintains and cultivates banking relationships
- Coordination with the corporate finance payments Team (ACH, Wires, Controls, Special handling deposit and check disbursements)
- Set up, coordinate and optimize line of business:
- ACH & Wire Bank activities in partnership with insurance business operations
- Lockboxes, check deposits and portal accounts
- Electronic Billing, Presentment and Payment
- Lead a team responsible for the effective integration of new business initiatives requiring banking into cash operations processes and technology
- Effective collaboration with key business stakeholders, to scope, define, plan and execute on the finance intake of banking infrastructure necessary to perform core cash management activities resulting from business unit change initiatives
- Plan, develop, document and coordinate/plan necessary testing of new business processes and cash flow that are required for Finance and Treasury purposes
- Collaborate closely with other Finance leadership to ensure the effective prioritization of activities
- Effectively advocate with business counterparts for process and control requirements prior to execution
- Establish and enhance governance and internal control procedures and maintain and consistently improve upon a strong control environment
- Serves as Subject Matter Expert for banking questions
- Ensures that consistent and standardized banking and payment processes exist.
- Ensures compliance with internal controls, policies and procedures in day-to-day conduct and supervision of the banking activities.
The Minimum Qualifications
- BS in accounting or finance
- At least 5 years of relevant banking experience from public accounting and/or public multinational companies in the insurance industry
- Experience with bank relationships and offerings as well as various banking operations best practices, tools and technology
- Ability to travel between Boston and Springfield, MA as needed
The Ideal Qualifications
- MBA or equivalent preferred
- CTP preferred
- Ability to work with senior management and influence decision making
- Strong multi-tasking skills and ability to adapt to change
- Ability to proactively take ownership of projects and drive them through to completion
- Familiarity with cash/bank management systems, Treasury Management Systems (TMS)
- Demonstrated ability to lead a team through change initiatives and create a culture of continuous improvement
- Use increasing insight to identify and implement improvements that increase the business value and efficiency of the work performed. Initiates and/or leads increasingly complex projects and continuous improvement activities that may span beyond the scope of own team's responsibilities
- Experience working in a Finance transformational setting; driving change and managing competing priorities
- Experience in best-in-class control execution/documentation
- Detail-oriented with demonstrated oral and written communication skills
- Ability to work with all levels of personnel, from staff to executive management
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
- 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
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