Investment Tax Specialist (Hybrid or Remote - US) at MassMutual
Senior Investment Tax Specialist
Corporate Tax Department
Remote, Boston, MA or Springfield, MA
*This position can be Remote in the U.S. with travel once per quarter to MA*
As a Senior Tax Consultant in the Investment Tax group, you will work in a dynamic and collaborative environment supporting securities tax operations, reporting and compliance, including system and process efficiency and enhancements. The ideal candidate will have a convergent skillset of technical tax, accounting, and system proficiency, excellent communication skills, and the ability to partner effectively with tax colleagues, finance organization teams, and across the broader investment data ecosystem. This position will be responsible for the tax accounting and reporting of realized capital gains and losses for general investment account (GIA) and subsidiary securities, liaise closely with the lead colleague for GIA net investment income, and serve as primary tax person for safeguarding system data quality for securities tax processing.
As a Tax Consultant, you will be a member of the Investment Tax team within the Corporate Tax Department, part of MassMutual's Controllers Organization. The Corporate Tax Department is comprised of high-performing, collaborative, and agile tax professionals who are motivated by challenging work that delivers sustained value and a culture of accountability. Team members are focused on continuous improvement and transforming the department through innovative solutions that align with the finance organization's strategic goals and initiatives.
As a Senior Tax Consultant, you will help develop and execute Investment Tax goals and initiatives. Your responsibilities will include:
- Hands-on Leader of the year-round tax reporting and compliance work for gains and losses from Securities investments of the MassMutual life insurance companies and its non-life subsidiaries.
- Monitor and track tax data quality and performance of Securities tax results tracked in the Eagle processing system, including from periodic software release changes.
- Participate in daily, cross-functional Eagle operating governance meetings and other meetings that discuss, analyze, and track system issues and changes in Securities across the investment data ecosystem.
- Compute quarterly tax provision Statutory-to-tax differences (“Schedule M-3 adjustments), reclasses between realized capital gain (RCG) and net investment income (NII), and associated management reporting analysis.
- Complete Securities-RCG processing for annual Federal tax return, including consolidation of RCGs for all investment asset classes.
- Reconcile deferred tax balances for Securities investments reported on Schedule D of NAIC Statutory Annual Statement, collaborating with Securities-NII Lead.
- Coordinate closely with International Tax group in the Corporate Tax Department to insure completeness and accuracy of tax compliance for Schedule D PFICs, CFCs, and foreign partnerships (“Schedule D pass-throughs”).
- Cross-train with Securities-NII Lead on tax reporting and compliance work for Securities-NII in order to prevent single person dependencies, facilitate assignment flexibility, and enhance learning/development opportunities.
- Identify new Schedule D pass-through investments and have them tagged in Eagle.
- Prepare wash sales analysis.
- Analyze transactions for tax impairments, including coordination with Barings investment analysts and related document review. Tag impairments in Eagle.
- Prepare analysis involving Securities-RCG for SSAP 101 tax planning strategies.
- Analyze exchange transactions to determine if taxable or non-taxable.
- Analyze tax cash flows on structured securities each quarter to achieve correct processing of tax amortization in Eagle.
- Stay current with tax law changes in general and impacting securities transactions.
- Proactively identify and implement process improvements, increase automation, and enhance digital analytics using existing and emerging technology solutions
The Minimum Qualifications
- Undergraduate degree in Accounting/Finance
- Minimum of 5+ years of tax experience, preferably in public accounting or large company environments, and focused in investments
The Ideal Qualifications
- Master's in Taxation, CPA, and/or Law degree highly preferred.
- Education and/or experience in information systems highly desirable.
- Comfortable working with investment systems platforms, a data-intensive environment, and data interfaces between ERP and tax systems
- Strong understanding of tax treatments of various securities transaction types
- Proficient Excel skills and workpaper organizational ability, integrating systems and analytical results
- Excellent written and verbal communication skills, including the ability to effectively present complex information and conclusions clearly
- General knowledge of corporate taxation to understand how investments fits into larger tax compliance, reporting and audit frameworks
- Experience with large, multidisciplinary projects that impact tax (e.g., ERP implementations, tax co-sourcing engagements, finance transformations)
- Conversant in Financial and Accounting Systems, such as SAP
- Ability to identify issues and recommend effective solutions
- Extremely organized, detail-oriented, and demonstrated ability to effectively prioritize and multi-task in a continually evolving environment
- Strong ability to utilize project management and best practices to organize and prioritize tasks
- Proven ability to collaborate cross-functionally and influence outcomes
What to Expect as Part of MassMutual and the Team
- An innovative, growth-oriented environment with a steady stream of interesting and challenging responsibilities
- Continual learning opportunities for the self-motivated contributor, supported by learning and development materials and opportunities
- Regular meetings with the Investment Tax team and cross-functional workgroups
- Focused one-on-one meetings with your manager
- 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 comprehensive benefits and performance-based pay
- Flexible work location policy, subject to manager approval and aligned to work requirements
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.