MassMutual
We help people secure their future and protect the ones they love.
Boston, MA
Hybrid

Head of Allocations Strategy and Planning

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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.

The Lead, Corporate Allocations is a new position that will sit within FSO. This individual will be responsible for working with a large number of business, finance and other leaders and professionals across the enterprise to build a comprehensive, robust allocations framework (expenses, earnings, capital, etc.). The Lead, Corporate Allocations will also establish policies, procedures and reporting processes to ensure that all allocation-related decisions, and the methodologies behind them, are documented and maintained. This work will have a deep and lasting impact on product strategy, capital allocation, financial forecasting and resource planning, among other efforts.

This individual will have to develop strong relationships with the business units, accounting policy, enterprise risk management, investment management, tax planning and others to ensure collaboration and information sharing. This individual must be an effective business partner with excellent facilitation and conflict resolution skills. In addition, this individual will have to be able to exert influence outside formal reporting lines—and both 'up and down' the enterprise.

This individual must be an effective communicator, able to distill and translate complex issues into 'plain English' while answering the 'so what?'. The Lead, Corporate Allocations will present to ELT and other senior leaders and must be able to tailor messages to the target audience. 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'.

Key Responsibilities:

  • Support a wide range of financial optimization projects
  • Support the development of long-term capital plans, including allocation of resources and alignment of initiatives with business objectives
  • Understand how MassMutual’s product offering compares to that of peers through capital, returns and other lenses
  • Support ad hoc financial and strategic analyses, as required
  • Serve as subject matter expert on all aspects of capital and cost allocations
  • Support continuous improvement initiatives in financial forecasting and capital planning

Qualifications:

  • Preferred: Master’s degree in business administration, finance or related discipline. Bachelor’s degree in accounting, actuarial science, economics, finance or related discipline
  • Minimum of eight years of progressive financial analysis, control and reporting experience within a multi-entity environment
  • Strong understanding of accounting (GAAP and statutory) and corporate finance principles
  • Strong knowledge of performance management, data modeling, financial analysis and reporting tools (e.g., Hyperion, Oracle, SAP)
  • 'Problem solver': articulates, conceptualizes and solves problems with available information
  • Excellent verbal and written communication skills with the ability to express ideas in an articulate, organized and persuasive manner. Proven ability to influence senior leaders
  • Intellectual curiosity with a focus on efficiency and continuous improvement
  • Able to model positive change management, leading individuals and teams through new operating models and methodologies and creating opportunities for discussion and deliberation
  • Resilient team player
  • Can juggle multiple priorities and competing deadlines. Remains calm under pressure
  • Proficient in Microsoft Excel, PowerPoint and Word
  • Able to travel between Boston, MA and Springfield, MA as needed
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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. https://www.massmutual.com/about-us/corporate-responsibility/foundation
Open door policy
OKR operational model
Team based strategic planning
Open office floor plan
Employee resource groups
Employee-led culture committees
Hybrid work model
In-person all-hands meetings
Employees can either attend the in-person all-hands meeting, watch live via Zoom, or watch the recording. All employees are invited to submit questions.
Employee awards
Flexible work schedule
Flexible work arrangements, including telecommuting, are available in many departments across the company.
Remote work program
In addition to two remote days per week, MassMutual offers employees four full remote weeks of their choice per year.
Diversity
Documented equal pay policy
Dedicated diversity and 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.
Mandated unconscious bias training
Diversity manifesto
Diversity employee resource groups
Hiring practices that promote diversity
Diversity recruitment program
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 insurance
Basic Dental covers preventive and basic restorative care; Major Dental covers all that Basic covers, plus restorations and orthodontia (limits apply).
Vision insurance
Health insurance
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
Pet insurance
Wellness programs
Team workouts
Mental health benefits
Transgender health care benefits
Wellness days
Abortion travel benefits
Our general medical travel benefit covers abortion-related travel.
Financial & Retirement
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
Charitable contribution matching
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.
Pay transparency
Child Care & Parental Leave Benefits
Childcare 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.
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
Company sponsored family events
MassMutual offers many opportunities for family events, from group volunteer experiences and chances to attend Red Sox games to business resource group-sponsored outings like annual pride parades.
Fertility benefits
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.
Flexible time off
Floating holidays
Bereavement leave benefits
Hardship benefits
320 hours of caregiver leave to take of loved ones when it matters most.
Office Perks
Commuter benefits
Free daily meals
Free snacks and drinks
Some meals provided
Onsite office parking
Recreational clubs
Relocation assistance
Fitness stipend
Home-office stipend for remote employees
MassMutual's wellness wallet is a stipend available to all employees, and can be used for myriad wellness-related purchases, including home-office purchases.
Meditation space
Mother's room
Onsite gym
Professional Development Benefits
Job training & conferences
Tuition reimbursement
Lunch and learns
Promote from within
Mentorship program
Continuing education stipend
Continuing education available during work hours
Online course subscriptions available
Customized development tracks
Paid industry certifications
Personal development training
Virtual coaching services

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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