Investment Accountant - CECL Impairments

Investment Accountant - CECL Impairment
Investment Controllership
Full-Time
New York, NY
The Opportunity
The Investment Accountant - CECL Impairment in the Controllers Organization of Corporate Finance, you will join us as we continue our progress towards becoming best in class financial stewards for MassMutual. We are forward-thinking and seek others who will leverage their curiosity and take initiative. Join us as a partner who will work collaboratively and with determination to leave the company in a better place than you found it.
You will be a key SME on the team that manages and executes Investments Credit accounting and analysis for the entire MassMutual portfolio of $300B+, including oversight of reporting. You will thrive in a highly dynamic and agile investment environment, where we are focused on both execution and improvement of outcomes. If you want to continue your career as a part of a diverse team of highly motivated professionals who are focused on driving process improvement, meaningful analysis and control execution for insurance accounting activities, this role is for you!
The Team
As a member of the Financial Controllership Team, the incumbent will be involved in shaping the future of the organization, supporting both the on-going growth and analysis within the Investment Controllership team and other key initiatives.
The Impact
As an Investment Accountant - CECL Impairment within the CFO division, you will lead and manage Credit Accounting and Analytics, delivering accurate, timely, and insightful analysis, accounting, and reporting from a credit risk perspective across the enterprise investment portfolio. This portfolio primarily includes fixed income securities, as well as significant allocations to alternatives, equity, derivatives, and other investment types. You will support quarterly and annual close cycles through effective planning, monitoring, and issue resolution. The role has end-to-end responsibility for credit-related activities, including quarterly impairment analysis, CECL, matrix assessments, model evaluation, and detailed review of investment documentation. You will ensure the accuracy, completeness, and transparency of credit risk data and provide high-quality reporting to senior management, internal and external auditors, and other stakeholders, in full compliance with applicable accounting standards.
This includes monitoring and governance, oversight, process change and transaction controls, including those executed by third parties that provide accounting services to the Company. You will also contribute to various initiatives focusing on increasing efficiency and adding value, while continuing to develop your project management skills, hone your skills in investment product accounting and related financial impacts. Your daily/monthly responsibilities will include, but are not limited to the following:

• SPOC & SME for all credit and matters related to the Investment portfolio
• Collaboration with Investment Management, ERM, Investment Operations, Reporting, Internal & External auditors and other stakeholders and provide timely, accurate, complete & insightful data analysis, reporting & presentation
• SME and key lead for Credit & CECL committees including presentation of quarterly, annual reporting and ad-hoc analysis
• Review of key work papers and reports including, impairment assessment framework, watchlist maintenance, default & credit analysis & related accounting, disclosures & reporting etc.
• Review of CECL model input, output and implement comprehensive data analytics framework, controls and related accounting, disclosures & reporting etc.
• Lead team for timely and accurate monthly / quarterly accounting closes tasks
• Monitors, market, industry and peers' trends and overall macro environment
• Lead and participate in re-engineering & improvement projects for Credit & Reporting

The Minimum Qualifications

• 5+ years of experience in credit, accounting, with focus on Fixed income assets class
• 2+ years of in-depth experience in credit/, from insurance or large fixed income manager
• 2+ years of experience with CECL (ASC 326)
• Bachelor's degree in finance or business or related field.

The Ideal Qualifications

• CPA or CFA preferred
• Experience with Big 4 Accounting firms or accounting system vendors
• Understanding of GAAP and STAT treatment for impairments and related accounting guidance from FASB and NAIC
• Experienced with Data Analytics, big data, trends with presentation and reporting
• Experienced with credit risk & models, methodologies and best practices
• Candidate must have advanced data management skills and through understanding of data flow & transactions cycle of fixed income security from trade to reporting, distress & recovery analysis
• Strong interpersonal and communication skills with emotional intelligence are essential
• Independent, self-motivated, detail-oriented and able to multi-task, sound judgement to deal with and manage conflicting priorities
• Cohesive, concise and clear communication and presentation style with ability to adapt & change

What to Expect as Part of MassMutual and the Team

• Regular meetings with the Investments Accounting Team
• 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 industry leading pay and benefits.

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MassMutual is an equal employment opportunity employer. We welcome all persons to apply.
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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Salary Range: $128,000-$168,000