Financial Expense Analyst
Expense Transformation and Efficiency Team
Full-Time
Springfield, MA or Boston, MA
The Opportunity
We are looking for a driven, collaborative, and organized person that will be responsible for developing quarterly and annual expense forecasts, analyzing expense trends, and drive 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 Team
The 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 add to the Expense Transformation & Efficiency Initiatives Organization. The ideal candidate will have experience in directing financial forecast processes, understand 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 positions 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 MassMutuals 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 MassMutuals 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, provide stewardship to address cross-functional governance issues
Influence in the design of future forecast processes and integrating strategic initiatives
Provide Anaplan expense training and support to ensure the Companys 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
Bachelors degree in accounting, actuarial science, economics, finance or related discipline
2+ years developing quarterly and annual expense forecasts
The Ideal Qualifications
Masters 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.
