Head of Expense Transformation and Efficiency Initiatives at MassMutual
We are looking for a Head of Expense Transformation and Efficiency Initiatives to be responsible for leading our expense organization and will have primary responsibility for the forecast, reporting, allocations and developing and, most importantly, driving expense efficiency strategies and our transformation efforts. The expense organization is undergoing a significant transformation effort to improve the data architecture, forecast process, and reporting technology (e.g. implementation of business intelligence technology). The Position will need to design, implement and drive the overall transformation effort. The Position will need to build trust with our customers and deliver high quality reporting with actionable insights. Once the significant transformation is complete, a significant portion of time will be spent on developing / implementing expense efficiency strategies and developing actionable insights. In addition, responsibilities will include developing and monitoring compliance with financial policies and procedures.
The ideal candidate will have experience in financial analysis and/or expense management as well as be fluent in life insurance and annuity products. This individual should excel at working collaboratively and cross-functionally with both peers and leaders within and outside the finance function. Things move quickly and change quickly at MassMutual; this individual should be able to roll with it. An ability to translate and distill complex financial issues into simple English while also providing the “so what.”
The position will lead a small team, and ensure it is proactive and highly customer-centric. Development is at the core of a learning culture. The Position will need to help guide all team members through their development.
The team will need to research and monitor competitive activity. Manage the timing, accuracy and hands-on execution of deliverables. Ensure proper attribution of results so the organization understands all storylines.
Allocations and data architecture need to be constantly evaluated to ensure that the organization understands true cost of each service / product within the organization and has complete transparency into every dollar spent and drivers of costs.
This position reports to the Head of Financial Planning & Analysis.
The Position is expected to:
- Develop robust end-to-end reporting processes, from information sourcing to presentation that provides actionable information to all customers. All takeaways should advice and driver based such that consumers understand what to do with the information to drive their business. Standardize and automate reporting to address customer needs and minimize production time / ad hoc requests
- Develop and implement strategies to improve to improve business profitability and performance
- Link finance to enterprise strategy and senior executives based on an understanding of both the business and financial conditions. Develop strategic guidance / strategies to address long term financial goals. Ensure that we have the appropriate incentives in place to incentivize the appropriate behavior
- Participate in the forecast redesign process to implement driver based zero based budgeting and activity based costing techniques
- Review and update, as necessary, expense allocation methodology to ensure that “true north” costs are understood. Maintain appropriate documentation and governance over allocation methodology as business needs evolve / change
- Ensure team is proactive and highly responsive to stakeholder needs, anticipating upcoming deliverables and taking accountability for proper execution
- Maintain effective working relationships with various stakeholders
- Inspire, lead and execute on CFO 2020 finance transformation initiatives, including data-driven financial analysis, automated reporting, and advanced analytics; develop staff and potential management successors; and improve processes with automation and programming
- Effectively identify, utilize and present data in a way that facilitates evidence-based decision-making
- Quickly deploy communications and adapt to the audience
- Create an environment that fosters high levels of employee engagement
- Establish cost center and strategic initiative guidance and governance processes
- Excellent verbal and written communication skills with ability to convey complex materials to all levels of the organization including senior executives and Board of Directors
- Demonstrated experience in implementing advanced forecasting / strategic planning techniques including activity based costing and zero-based budgeting
- Bachelor’s degree in Business/Finance/Accounting or related discipline
- High degree of financial acumen
- Strong analytical skills; ability to analyze financial data sets and understand the “so what”
- Organized and detail-oriented; Ability to work well under pressure and manage multiple deliverables
- Proactive and self-motivated; anticipate upcoming client projects and deliverables
- Ability to think critically and demonstrate good judgment. Demonstrate experience with creative problem-solving
- Experience driving transformation efforts
- Ability to work through large data sets to understand key trends
- Innate desire to provide excellent service to clients
- Ability to travel between Boston and Springfield as needed
Focus on the Customer: We understand our customers well and look for every opportunity to deliver an experience that is clear, easy, personal, human, empowering and trustworthy.
Act with Integrity: We deliver on our promises by being open, honest and humble and by adhering to the letter and spirit of applicable laws, rules, regulations and company policies.
Value People: We respect and learn from each other’s diverse backgrounds, experiences and ideas. We engage and develop people to their greatest potential.
Work Collaboratively: We work together to achieve results by actively listening, seeking, understanding and creating solutions as a unified team driving toward one company, one culture, one brand.
Achieve Results: We focus on winning by exceeding expectations and getting better – everyone, every day.
Since 1851, MassMutual’s commitment has always been to help people protect their families, support their communities, and help one another. This is why we want to inspire people to Live Mutual. We’re people helping people.
A career with us means you will work alongside exceptional people and be empowered to reach your professional and personal goals. Our employees are the foundation of what makes MassMutual a strong, stable and ethical business. We seek and value unique and varied perspectives and experiences because we believe we are stronger when all voices are heard. We invite you to bring your bright, innovative ideas to MassMutual as we continue to help millions of Americans rely on each other.
Together, we’re stronger.
Ranked No. 93 in the annual FORTUNE ® 500 Ranking (FORTUNE ® Magazine, June 2018) and recognized as a World’s Most Ethical Company by Ethisphere, MassMutual is guided by a single purpose: We help people secure their future and protect the ones they love. As a company owned by our policyowners, we are defined by mutuality and our vision to put customers first. 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. At MassMutual, we Live Mutual.
For more information, visit www.massmutual.com or find us on Facebook, Twitter, LinkedIn, YouTube, Google+, Instagram and Pinterest.
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.