Head of Strategic Planning and Forecasting

| Greater Boston Area

We are looking for the Head of Strategic Planning and Forecasting to be responsible for developing and executing the quarterly GAAP and STAT financial forecast for MassMutual’s consolidated operations which includes insurance entities, affiliates and strategic investments. The forecast provides us insight into our forward-looking earnings and capital financial picture which enables strategic decision making. This position will also ensure that our budget is connected to our strategic plan. It’s essential that our forecast process has the appropriate level of governance and can be executed consistently.

This position reports to the Head of Financial Planning & Analysis and will lead a small team. Ensure team is proactive and highly responsive to client needs, anticipating upcoming deliverables and taking accountability for proper execution. Ensure junior staff is trained, supportive of team efforts and paying sufficient attention to detail. Research and monitor new developments across the industry. Manage the timing, accuracy and hands-on execution of deliverables. Ensure proper attribution of results so the organization understands all storylines. The position will be responsible for building a Finance of the future team with diverse and complementary skillsets including accounting, FP&A, actuarial, data science, analyst, program management, etc.

We are transforming our financial forecast and management reporting over the next couple quarters. We expect this leader to drive improvements that will simplify the process and inputs, convert the forecast so that its driver based and shorten turnaround time by 80%. Upon completion, we will have an automated, top-down, driver-based forecast that will enable us to do dynamic scenario analysis and early warning stress-monitoring capability.

The ideal candidate will have experience in leading and transforming financial forecast processes as well as be fluent in life insurance or annuity products, investments and capital markets. This individual should excel at working collaboratively and cross-functionally with subject matter experts to ensure that the financial forecast incorporates material assumptions. The ideal candidate will need to excel in communications with team, peers and leaders within and outside the communications function. Things move quickly and change quickly at MassMutual; this individual should be able to roll with it. An understanding of financial statements and our various capital regimes is a must, along with the ability to translate and distill complex financial issues into simple English and the so what. The ideal candidate would also have experience with business intelligence technology.

The team is currently located in Springfield MA and Boston MA. The team is expected to expand its Boston MA presence in the future.

OVERALL RESPONSIBILITY

The Head of Strategic Planning and Forecasting is expected to:

  • Develop robust end-to-end financial forecasting processes that is driver-based and automated and provides actionable insights on all key performance indicators
  • Set strategic direction of the financial forecast for Finance
  • Link finance to enterprise strategy and senior executives based on an understanding of both the business and financial conditions
  • Effectively identify, utilize and present data in a way that facilitates evidence-based decision-making
  • Ensure team is proactive and highly responsive to stakeholder needs, anticipating upcoming deliverables and taking accountability for proper execution
  • Maintain effective working relationships with external stakeholders including regulators and rating agencies
  • 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
  • Create an environment that fosters high levels of employee engagement
  • Enhance overall forecast / budget governance to ensure that the process is operationalized and executed in a consistent manner every time.

    REQUIREMENTS:

  • Broad and deep knowledge of life and annuity insurance forecasting concepts, tools, and reporting, covering:
    • life and annuity insurance sources of earnings and accounting methods
    • investment source of earnings and accounting methods
    • various capital frameworks including rating agency, U.S. RBC, economic, etc
    • predictive, driver-based forecasting techniques
    • scenario modeling
    • reinsurance
  • 7+ years of experience leading high caliber financial forecasting teams
  • 15 years of work experience with a track record of increasing responsibility
  • Demonstrated track record of strong executive support and the ability to advise senior leaders on financial optimization opportunities
  • Demonstrated change leadership and continuous improvement techniques
  • Excellent verbal and written communication skills with ability to convey complex materials to senior executives
  • Bachelor’s degree in Business/Finance/Accounting/Actuarial or related discipline
  • FSA, CFA, or equivalent
  • High degree of financial acumen
  • Strong analytical skills; ability to analyze financial data sets and understand businesses. Ability to tell the story of the data
  • Experience with relevant data platforms, including Bloomberg, ThomsonOne, Rating Agencies, SNL.com, etc.
  • Organized and detail-oriented; multi-task various responsibilities
  • Proactive and self-motivated; anticipate upcoming client projects and deliverables
  • Excellent influencing skills
  • Ability to think critically and demonstrate good judgment. Demonstrate experience with creative problem-solving
  • Exceptional relationship building skills. Excellent interpersonal and verbal skills; professional phone and email communications
  • Innate desire to provide excellent service to clients
  • Charismatic leader who can inspire excellent performance, listen, sell, and support staff though a broad and deep transition
  • Resourceful under pressure and manage multiple deliverables. Drive results despite ambiguity or obstacbles
  • Ability to work well under pressure and manage multiple deliverables
  • Track record of talent stewardship, specifically the ability to attract, lead, develop and retain talent
  • Ability to travel between Boston and Springfield as needed
  • Must be authorized to work in the US without sponsorship now or in the future

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Location

We currently have two Boston office locations at both 470 Atlantic Ave and One Marina Park.

An Insider's view of MassMutual

How do you collaborate with other teams in the company?

As a Product Owner, I spend most of my time collaborating with others across different business units. On any given day, I could be spending time brainstorming design concepts of upcoming features with our design team or assisting them with presenting these concepts to outside users as part of our user testing process.

Ryan

Digital Product Owner

What makes someone successful on your team?

Successful people on my team are: passionate, curious, receptive, and engaged. Each team member is expected to be passionate about the work that they do, and the domains in which they practice. They are always solving unique problems and must be curious about finding new solutions.

David

Digital Lead

What’s the vibe like in the office?

We work in an open floor plan, so there is a lot of opportunity for networking across roles, teams and levels. Everyone is very friendly and welcomes the opportunity to get to know other people on the floor.

Kristina

Digital Product Manager

What are MassMutual Perks + Benefits

MassMutual Benefits Overview

At MassMutual, employees have the opportunity to earn a competitive salary and bonus, enroll in an
array of benefits, and participate in programs and services that support healthy lifestyles, assist them
in building financial security for themselves and their families and help them live well-balanced lives.

Culture
Volunteer in local community
Every action supporting a common cause is meaningful, and our employees make a difference in their own communities through our Matching Gift, Matching Time and Volunteer Time Off Programs.
Partners with Nonprofits
Every year, MassMutual and the MassMutual Foundation invest more than $20 million focused on advancing economic opportunity.
Intracompany committees
Daily stand up
Team owned deliverables
Open office floor plan
Diversity
Dedicated Diversity/Inclusion Staff
Highly diverse management team
More than half of our Board of Directors are comprised of women and people of color, making it one of the most diverse groups in the industry.
Unconscious bias training
Diversity manifesto
Someone's primary function is managing the company's diversity and inclusion initiatives
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
A health care flexible spending account (FSA) allows employees to save money on a before-tax basis for eligible medical, dental and vision expenses, subject to IRS limits.
Disability Insurance
For details on short term and long term disability insurance please visit https://www.massmutual.com/-/media/files/employee_benefits.pdf
Dental Benefits
Basic Dental covers preventive and basic restorative care; Major Dental covers all that Basic covers, plus restorations and orthodontia (limits apply).
Vision Benefits
Health Insurance Benefits
To learn more about our Health and Welfare Benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf
Life Insurance
For more information about our Life Insurance Benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf
Wellness Programs
Onsite Gym
Retirement & Stock Options Benefits
401(K)
In addition to our 401(k), MassMutual a cash balance plan that provides an account-based pension benefit based on accruals of pay credits and interest credits.
401(K) Matching
Performance Bonus
Match charitable contributions
Every action supporting a common cause is meaningful, and our employees make a difference in their own communities through our Matching Gift and Matching Time Programs.
Child Care & Parental Leave Benefits
Child Care Benefits
Dependent care flexible spending account to allow you to set aside before tax dollars to pay for certain eligible child care expenses.
Generous Parental Leave
Leave for birth mothers of 18 weeks of fully paid leave. Non-birth mothers, fathers and adoptive parents eight weeks of fully paid parental leave.
Flexible Work Schedule
Flexible work arrangements, including telecommuting, are available in many departments across the company.
Family Medical Leave
Caregiver leave: Up to two weeks paid leave to care for a loved one. Bereavement Leave: 15 days of paid time off to grieve the loss of a loved one with the employee defining who the loved one is.
Adoption Assistance
Vacation & Time Off Benefits
Generous PTO
Paid holidays: 9 fixed and 1 floating. Vacation: starts at 19 vacation and personal days per calendar year, with increases at 5-year service intervals.
Paid Volunteer Time
Three days of paid time off is available to employees annually to give back to their communities, by sharing their time and talent with a cause close to their heart.
Paid Holidays
Paid Sick Days
Occasional illness: up to 5 days per calendar year.
Perks & Discounts
Casual Dress
Commuter Benefits
Professional Development Benefits
Job Training & Conferences
Tuition Reimbursement
Lunch and learns
Cross functional training encouraged
Promote from within
Online course subscriptions available
Customized development tracks
Paid industry certifications

Additional Perks + Benefits

To learn more about our comprehensive benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf

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