Financial Expense AnalystExpense Transformation and Efficiency TeamFull-TimeSpringfield, MA or Boston, MAThe OpportunityWe are looking for a driven, collaborative, and organized person that will be responsible for developing quarterly and annual expense forecasts, analyzing expense trends, and driving expense efficiencies and KPI processes. The expense forecast provides us insight into our forward-looking earnings and capital financial picture which enables strategic decision making. This expense consultant will support and interact with senior business unit leaders in all phases of the expense forecasting cycle including managing their expense base, identifying and analyzing opportunities to improve expense efficiencies across the organization and driving implementation of those initiatives.
The TeamThe Financial Expense Analyst is a critical and influential role within the Expense Transformation & Efficiency Initiatives Organization, and reports to the Head of Expense Transformation & Efficiency Initiatives Organization. This group is extremely dynamic, consisting of individuals who have backgrounds in quantitative, analytical, and actuarial fields of study. The team prides itself on being proactive and highly responsive to client needs, anticipating upcoming deliverables and taking accountability for proper execution. Things move fast at MassMutual, and our team is required to be able to 'roll with it,' and be hands-on when needed.
The Impact:This position will be a key addition to the Expense Transformation & Efficiency Initiatives Organization. The ideal candidate will have experience in directing financial forecast processes, understanding financial statements, driver-based forecasting, activity-based costing, and insurance products. This individual should excel at working collaboratively and cross-functionally with subject matter experts to ensure that the expense forecast incorporates material assumptions. The ideal candidate will need to excel in communications with team, peers, and leaders within and outside the communications function. The ability to pay attention to detail while translating and distilling complex financial issues into usable facts and suggestions will also be critical. The ideal candidate will also have experience with business intelligence technology.
A large part of this position's responsibilities includes supporting and interacting with senior-level business executives on all things expense-related. As a result, communication, analytical skills, and influencing skills are key to the success of the position. Analysis includes but is not limited to unit cost development, fixed vs. variable expense analysis, capital budgeting, working with management to set unit cost (and department level) aspirations, staffing model creation and utilization, and market and peer analysis. They will provide the key inputs and analysis for setting annual expense targets and goals and budget, and will work proactively with senior business leaders to identify and execute against expense efficiency initiatives. This individual will also:
- Drive MassMutual's Expense Forecast and Plan processes with continuous focus on refining models, identifying and driving improvements to better tell the story and model different scenarios.
- Maintain and enhance the robust end-to-end expense forecasting models in Anaplan to ensure it is driver-based and automated.
- Enhance the financial reporting structure in Anaplan, model connectivity, and relationships for new reporting requirements and our business partners.
- Analyze STAT & GAAP expense results for all legal entities, profit centers, and cost centers.
- Provide analysis and reporting on ABC Categories, peer and industry benchmarking.
- Analyze actual expenses for MassMutual's distribution and product channels and explain changes from prior quarter and forecast.
- Ensure Anaplan expense data is accurately transferred to the data lake and FinX Dashboards.
- Enhance overall expense forecast/plan governance to ensure that the process is operationalized and executed in a consistent manner every time, providing stewardship to address cross-functional governance issues.
- Influence the design of future forecast processes and integrate strategic initiatives.
- Provide Anaplan expense training and support to ensure the Company's self-service model is embraced; ensuring key users have the resources and dynamic workspace they need to operate the forecast tools/models and produce the deliverables they are accountable for.
- Serve as an internal expert, consultant, and resource accountable for the expense Anaplan module.
- Collaborate on strategic initiatives such as expense Dashboards; promote and develop self-serve analysis, detailed reporting, and utilization metrics while ensuring excellent quality controls.
The Minimum Qualifications - 4+ years of work experience with a track record of increasing responsibility within the financial services industry.
- Bachelor's degree in accounting, actuarial science, economics, finance, or related discipline.
- 2+ years developing quarterly and annual expense forecasts.
The Ideal Qualifications - Master's degree in business administration, finance, or related discipline.
- Professional certifications such as CPA, MBA, FSA, CFA and/or FCIA preferred.
- GAAP and STAT Technical accounting experience preferred.
- Prior experience performing:
- activity-based costing.
- predictive, driver-based forecasting techniques.
- scenario modeling.
- expense attribution.
What to Expect as Part of MassMutual and the Team - Regular meetings with the Head of Expense Transformation & Efficiency Initiatives and select business leaders throughout the firm.
- 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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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.
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
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