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Insurance Accountant

Insurance Accountant

Insurance Controllership

Full-Time

Boston, MA or Springfield, MA

The Opportunity

This Insurance Accountant role resides within the Insurance Controllership team, a critical team within the Business Controllership Organization which aspires to be best in class financial stewards for MassMutual. This is an opportunity for an individual who thrives in a highly dynamic and agile accounting environment to collaborate across teams focused on solid execution and improving outcomes. We are seeking an accounting professional who wants to join a highly motivated team of professionals focused on monthly and quarterly close activities, proactively driving the development and execution of process improvements, meaningful analysis and improved coordination with the business partners for Insurance activities .

The Team

The Insurance Controllership team is a high-profile team in the Business Controllership organization comprised of talented accounting professionals who possess diverse ranges of experiences and backgrounds. Overall responsibility for our team is month end close and oversight of general ledger to support financial statements and regulatory filings. Our team has a high business acumen and is driven to provide timely and accurate financial information to our customers. We pride ourselves on working with agility and being a reliable source of information in the organization. We strive to continuously improve and achieve results by actively listening, seeking, understanding and creating solutions as a unified team. The team supports company growth and the growing number of projects and initiatives of the team.

The Impact:

As an Insurance Accountant, you will have impact through your contribution to oversight of the insurance accounting execution and controls for monthly and quarter-end closes. You will also contribute to various initiative work focusing on increasing efficiency and adding value, while continuing to develop your project management skills, hone your skills in insurance product accounting and related financial impacts. Your daily/monthly responsibilities will include, but are not limited to the following:

Contributes to the accurate, timely completion of monthly, quarterly and annual accounting close cycles for complex insurance accounting by effectively planning, monitoring, and problem solving

  • Analyze trends and results, use strong business acumen and communication skills collaborating with peers and the other departments to draft and contribute to commentary which enables readers to quickly understand the financial results and key drivers
  • Effectively collaborates with Treasury, Investment Accounting, Reinsurance Accounting, Strategic Business Partner, Reporting and Corporate Actuarial teams and builds key relationships to become an expert in insurance product accounting and related financial impacts
  • ·Supports the Financial reporting team in providing complete and accurate accounting information such as financial statements, footnote schedules, regulatory reports and other management reports
  • Efficiently captures, executes and documents controls for insurance accounting activities and makes recommendations to continuously improve the overall control environment
  • Contributes to the accounting policy research and implementation for new insurance products or insurance related transactions ensuring accuracy and compliance with accounting regulations
  • Assist in research and implementing new statutory and GAAP insurance accounting guidance
  • Identify opportunities for continuous improvements, develop solutions, and implement enhancements using new technologies that increase efficiency and add value
  • Play a key role in creating a collaborative and inclusive culture by working closely with outsourced vendors and other areas within the Controllers Organization to build trust through increasing understanding of and respecting differences
  • Respond to auditor requests for source document information, including control execution documentation and support

The Minimum Qualifications

  • Bachelor’s degree in accounting, finance, or related major
  • 6 + years’ experience in public accounting or working in a large corporate environment

The Ideal Qualifications

  • CPA or progress toward CPA preferred
  • Knowledge and experience of U.S. GAAP and statutory accounting Experience in performing insurance accounting, general ledger processing and month end close related matters
  • Experience in using accounting data and information to analyze and articulate the financial results
  • Experience in identifying internal control issues and remediation efforts
  • Experience working with insurance accounting and ERP tools (SAP, Cadency, Alteryx etc.)
  • 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 and articulate in an organized and persuasive manner to leadership, staff, regulatory bodies, etc.
  • Intellectual curiosity to continue learning and adding breadth and depth to understanding

What to Expect as Part of MassMutual and the Team

  • Regular meetings with the Insurance Controllership Team
  • Focused one-on-one meetings with your manager
  • Access to mentorship opportunities
  • Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQIA+, 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

#LI-CR37

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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Average salary estimate

$95000 / YEARLY (est.)
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$80000K
$110000K

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What You Should Know About Insurance Accountant, MassMutual

Welcome to your next career opportunity as an Insurance Accountant at MassMutual! Nestled in the heart of Hartford, CT, this role is an integral part of the Insurance Controllership team, known for its dynamic and teamwork-oriented approach. If you thrive in a fast-paced environment, this is the place for you! At MassMutual, we focus on the monthly and quarterly close activities and drive process improvements that make a real difference. Here, you’ll collaborate with talented professionals from diverse backgrounds, all while gaining expertise in complex insurance accounting matters. Not only will you be responsible for ensuring the timely and accurate completion of accounting cycles, but you'll also contribute to analyses that help decipher financial results. Your efforts will tangibly impact our company’s growth as we support various initiatives. You will foster collaborative relationships across Treasury, Investment, and Reinsurance Accounting teams, helping to build your reputation as an expert in insurance product accounting. Plus, we cherish continuous improvement, encouraging you to identify opportunities and implement tech-driven solutions that add real value. At MassMutual, you'll not only grow professionally but also join a culture that values inclusivity and collaboration. Ready to take the next step in your accounting career? We can't wait to meet you!

Frequently Asked Questions (FAQs) for Insurance Accountant Role at MassMutual
What are the main responsibilities of an Insurance Accountant at MassMutual?

As an Insurance Accountant at MassMutual, your primary responsibilities will include overseeing the monthly, quarterly, and annual accounting close cycles, ensuring timely and accurate financial reporting. You'll analyze trends and results, collaborate closely with various teams such as Treasury and Reporting, and support the Financial Reporting team by providing critical accounting data. Additionally, you will play a role in enhancing internal controls and developing solutions to improve processes within the insurance accounting function.

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What qualifications do I need to become an Insurance Accountant at MassMutual?

To qualify for the Insurance Accountant position at MassMutual, you need a Bachelor’s degree in accounting, finance, or a related field, along with at least six years of experience in public accounting or a corporate environment. Ideally, a CPA or progress towards a CPA is preferred, along with a solid understanding of U.S. GAAP and statutory accounting principles. We are looking for candidates with strong analytical skills, excellent communication abilities, and a knack for building relationships across departments.

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How does the Insurance Controllership team at MassMutual support the company’s growth?

The Insurance Controllership team at MassMutual plays a vital role in the company's growth by ensuring accurate financial reporting and timely accounting processes. By collaborating with different business units, the team enhances financial oversight and fosters effective decision-making. This proactive approach enables the company to adapt to new projects and initiatives, all while maintaining high standards in accountability and efficiency.

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What can I expect in terms of career development as an Insurance Accountant at MassMutual?

At MassMutual, career development is a priority, especially for an Insurance Accountant role. You can expect regular one-on-one meetings with your manager, access to mentorship opportunities, and networking events tailored for various interest groups. Additionally, we provide resources for continuous learning through platforms like Degreed, ensuring you can expand your skills and advance within the company.

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What is the working environment like for Insurance Accountants at MassMutual?

The working environment for Insurance Accountants at MassMutual is collaborative and inclusive. We encourage open communication and teamwork to achieve common goals. The team is known for its agility and dedication to continuous improvement, creating a positive atmosphere where everyone can thrive. Plus, you’ll have the opportunity to build strong working relationships across different departments, enriching your overall work experience.

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Common Interview Questions for Insurance Accountant
How do you ensure accuracy in the month-end close process as an Insurance Accountant?

To ensure accuracy in the month-end close process, I prioritize meticulous planning and organization. I maintain a comprehensive checklist of key tasks, deadlines, and responsibilities, and I communicate regularly with team members to ensure everyone is on track. Additionally, I double-check reconciliations and analyses, ensuring that all data aligns perfectly before finalizing reports.

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Can you describe your experience with U.S. GAAP and statutory accounting in insurance?

Certainly! My experience with U.S. GAAP and statutory accounting comes from my previous roles where I was directly involved in preparing and analyzing financial statements according to these standards. I've developed a strong understanding of how insurance accounting nuances impact financial reporting and compliance, allowing me to contribute effectively to meetings and discussions with my teams.

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What process improvements have you implemented in previous accounting roles?

In my previous role, I identified inefficiencies in our month-end reconciliation process and proposed a new automated reporting tool that streamlined data collection and analysis. This not only reduced the reconciliation time by 25% but also improved overall accuracy and allowed my team to focus on value-added financial analysis instead of manual data entry.

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How do you handle discrepancies in financial reports?

When I encounter discrepancies in financial reports, I take a methodical approach. I first dig into the details to identify the source of the error, whether it's due to data entry or a calculation mistake. Once identified, I collaborate with relevant team members to resolve the discrepancy and ensure our financial statements are accurate before submission.

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Discuss a time you worked closely with cross-functional teams.

In my last position, I collaborated with the treasury and investment accounting teams to address discrepancies in investment valuation reports. We held regular meetings to analyze data, discuss findings, and jointly develop solutions that aligned with both accounting standards and investment strategies, leading to more accurate financial reporting.

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What accounting software and ERP systems are you familiar with?

I have extensive experience using several accounting software and ERP systems, including SAP, which I used for integrating financial data and ensuring regulatory compliance, as well as Alteryx for data analysis and visualization. My familiarity with these platforms allows me to efficiently manage large volumes of data and generate insights quickly.

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How do you stay updated on changes in accounting regulations impacting insurance?

I stay updated on changes in accounting regulations impacting insurance by subscribing to industry newsletters, participating in professional accounting organizations, and attending webinars and conferences focused on accounting standards. Engaging with other accounting professionals and thought leaders in the field also helps me stay well-informed about ongoing changes.

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What measures do you take to ensure compliance with accounting policies for new insurance products?

To ensure compliance with accounting policies for new insurance products, I conduct comprehensive research on the product structure and relevant accounting guidance. I collaborate with both legal and compliance teams to verify adherence to regulations, while also documenting our findings and recommendations to assure transparency in our processes.

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Describe your approach to mentoring less experienced accountants.

My approach to mentoring less experienced accountants involves providing them with the resources they need to succeed while also encouraging them to take the initiative in their roles. I conduct regular knowledge-sharing sessions, where we discuss accounting principles and explore real-world applications. I prioritize creating a safe space where they feel comfortable asking questions and seeking guidance.

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Why do you want to work as an Insurance Accountant at MassMutual?

I want to work as an Insurance Accountant at MassMutual because I admire the company's commitment to ethical business practices and community support. The emphasis on teamwork and continuous improvement aligns perfectly with my personal values. I'm excited about the opportunity to contribute to a high-performing team while further developing my skills in insurance accounting.

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Full-time, on-site
DATE POSTED
April 15, 2025

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