Net Investment Income Lead

| Greater Boston Area

We are looking for a driven, collaborative and creative person that will be responsible for developing and executing the quarterly GAAP and STAT financial forecast for MassMutual’s consolidated investment portfolio which includes insurance entities, affiliates and strategic investments. This individual will participate in the capital market assumption process and scenario development work which drive MassMutual’s various forecast scenarios. In addition, this person will be responsible for developing and producing NII analysis about our forward-looking earnings and surplus volatility. The design of the investment forecast process will have an appropriate level of governance.

The Net Investment Income Lead is a highly critical and influential role within the Strategic Planning and Forecasting team at MassMutual, and reports to the Head of Strategic Planning and Forecasting. This individual needs to be proactive and highly responsive to client needs, anticipating upcoming deliverables and taking accountability for proper execution. The timing, accuracy and hands-on execution of deliverables must be managed carefully and to ensure useful attribution of NII results. 

The ideal candidate will have experience in leading financial and investment 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 investment forecast incorporates material assumptions. The ideal candidate will need to excel in communications with team, peers and leaders within and outside the communications function. 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 usable facts and suggestions. The ideal candidate will also have experience with business intelligence technology.

Understanding MassMutual’s competitive and financial position, as well as strategic imperatives, will be critical. Things move fast at MassMutual and the successful candidate must be able to ‘roll with it,’ and be hands-on when required. 

The team is currently located in Springfield MA and Boston MA. 

Overall Responsibilities:

  • Drive MassMutual’s NII Forecast and Plan processes with continuous focus on refining models, . identifying and driving improvements to better tell the story and model different scenarios
  • Analyze NII results for all asset classes including but not limited to investment grade bonds, mortgages, investment partnerships and/or derivatives
    • Provide analysis and reporting on Insurance, Asset Fee, and Investment margins
    • Report and analyze earnings for the overall General Account)
    • Analyze actual NII for MassMutual’s distribution channels and explain changes from prior quarter and forecast
  • Enhance overall forecast / budget governance to ensure that the process is operationalized and executed in a consistent manner every time, provide stewardship to address cross-functional governance issues
  • Participate in the design of future forecast scenarios
  • Provide support, modeling and financial analysis of potential future investment structures
  • Serve as an internal expert, consultant and resource accountable for investments and asset structuring (data, tools / technology, accounting, financial impacts, etc.); inform FP&A and Corporate CFO of monthly and quarterly investment trends and market updates
  • Effectively identify, utilize and present data in a way that facilitates evidence-based decision-making
  • Drive strategic initiatives such as Investment Dashboards; promote and develop self-serve analysis, detailed reporting, and utilization metrics while ensuring excellent quality controls
  • Provide best in class internal and external customer support

The ideal candidate would have the following skills, experience and competencies:

Required:

  • 10+ years of work experience with a track record of increasing responsibility
  • Bachelor’s degree in accounting, actuarial science, economics, finance or related discipline
  • Master’s degree in business administration, finance or related discipline and professional certifications such as CPA, MBA, FSA, CFA and-or FCIA preferred
  • High degree of financial acumen including but not limited to:
  • GAAP and STAT Technical accounting expert on investments and derivatives
  • Strong understanding of various asset classes including; IG Bonds, mortgages, private equity, real estate and derivatives
  • Deep knowledge of investment concepts such as allocation models, segmentation, analysis of investment margin, and attribution analysis
  • Familiarity with capital frameworks, predictive forecasting techniques, and scenario modeling

Preferred:

  • Strong analytical skills; ability to analyze financial data sets and tell the story of the data
  • Experience with data platforms including; Bloomberg, Thomson One, SNL, and Rating Agencies
  • Previous accounting policy experience highly desired
  • Proven ability to complete high quality work efficiently and increase autonomy over time
  • Experience with M&A, different types of legal entities, transfers of financial assets, and consolidation
  • Able to build and maintain strong working relationships across cross-functional groups
  • Excellent verbal and written communication skills with the ability to express ideas in an articulate, organized and persuasive manner to leadership, staff, rating agencies, etc.
  • Able to work well under pressure and manage multiple deliverables
  • Able to travel between Boston, MA and Springfield, MA as needed

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Location

We have two Boston office locations at 470 Atlantic Ave and One Marina Park. We are building our new Boston Campus at 10 Fan Pier target opening 2021

An Insider's view of MassMutual

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 Adoption Team Lead

What's the biggest problem your team is solving?

You don’t think of insurance as a hotbed for innovation but the very nature of our organization, Digital Experience, is to reimagine how a 168-year old company does business with its customers. Our Design team takes pride in an inclusive design process with everyone invited to provide feedback, from Product to Engineering to QA.

Maria

Digital Lead - Design

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

How do you empower your team to be more creative?

I encourage my team to embark on ‘deep work’ at least once a week on a ‘meeting-free’ designated day. We have design reviews to brainstorm alternative ways to solve business problems from a software engineering point of view. We consider self-reflection and brainstorming to be fundamental components of creativity.

Mike

Head of Data Science Software Engineering

How do your team's ideas influence the company's direction?

One of our projects is an application we built for our Investment Mgmt team called ViPER (Visualizing Investment Portfolio Enhanced Reporting). The application makes it easy to manage reports and get insights from Data Science models. Now with ~150 active users, it reflects how we’re using DS to facilitate data driven decision processes across MM.

Jasmine

Head of Data Science - Investments Domain

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
Documented equal pay policy
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
Diversity Employee Resource Groups
Hiring Practices that Promote Diversity
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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