Forecast Development & Analysis Analyst

Forecast Development & Analysis Analyst - Net Investment Income Location Springfield, MA (Metro Center area) :

Forecast Development and Analysis Analyst - Net Investment Income

Financial Forecasting, Communication and Analytics

Full Time

Springfield, MA or Boston, MA

The Opportunity

We are looking for a driven, collaborative, and detailed-oriented individual that will be responsible for developing and maintaining quarterly GAAP and STAT financial forecasts, leveraging internally developed software, for MassMutual's consolidated investment portfolio which includes insurance entities, affiliates, and strategic investments. This individual will participate in the capital market assumption process and scenario development work which drive MassMutual's various forecast scenarios. In addition, this person will be responsible for developing and producing quarterly net investment income (NII) review packages, attribution walks, and detailed analytics for internal CFO stakeholders. This individual will also lead quarterly review meetings with various stakeholders in the net investment income forecast process and will manage relationship with the Actuarial team in support of the quarterly dividend experience interest rate (DEIR) estimation work. NII forecast provides us insight into our forward-looking earnings and capital financial picture which enables strategic decision making. It's essential that our forecast process has the appropriate level of governance and can be executed consistently.

The Team

The Forecast Development & Analysis Analyst - Net Investment Income is a highly impactful and influential role within the Financial Forecasting, Communication and Analytics team at MassMutual, and reports to the Investment Forecasting Lead. This group is extremely dynamic with significant exposure across the CFO organization, provides ample of networking opportunities, and consists of individuals who have backgrounds across various fields of study and functional areas of the finance organization. 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 ideal candidate will have some experience in financial and/or investment forecast processes, preparation of financial statements and financial analysis, as well as basic understanding of the life insurance company products, investment strategies, RBC capital framework, and capital markets. This individual should excel at working collaboratively and cross-functionally with team members and subject matter experts to ensure that the investment forecast incorporates material assumptions and aligns with financial forecasts across other functional areas. They will be detailed-oriented, have controllership mentality, demonstrate excellent communication skills, ability to meet tight deadlines, and be able to pivot quickly to other assignments as upcoming deliverables may dictate. Understanding MassMutual's competitive and financial position, as well as strategic imperatives, will be critical.

This role offers unlimited growth and experience opportunities within the MassMutual organization. This is an opportunity to quickly learn about the business and insurance industry while working alongside of many talented professionals.

The team is currently located in Springfield MA, Boston MA and Cincinnati OH.

The Impact

Own and drive MassMutual's NII Forecast and Plan assumption update process with continuous focus on refining and simplifying models and identifying and driving improvements to better align with historical trends and to be able to model different scenarios.

Own and drive pre-forecast meetings with various stakeholders to set expectations, deliverables, and gain insights into potential variance drivers.

Own, produce and maintain GAAP and STAT NII Review Packages that:

• Compare Actual results to Plan and Prior Forecast
• Compare Current Forecast to Plan and Prior Forecast
• Provide transparency into assumption changes
• Capture the dollar impact of each assumption update
• Capture the detailed impact of each assumption update across various NII drivers

Analyze NII results for all asset classes including but not limited to investment grade bonds, mortgages, investment partnerships and derivatives:

• Provide analysis and reporting on net investment margin: product and policy loan investment income net of interested credited and investment expenses
• Provide analysis and reporting on net investment margin by product/operating segment
• Provide analysis and reporting on net investment margin by asset class

Compile and provide required information and analytics to support the production of:

• Monthly executive presentations and dashboards
• Quarterly financial data package
• Quarterly DEIR estimate

Maintain and improve NII forecast process documentation, internal controls, and audit trail on assumption updates. Own and drive cross-training requirements.

Serve as an internal subject matter expert on investment assets classes, expected returns and capital market assumptions.

Participate and drive various projects and initiatives.

Provide best in class internal and external customer support.

The Minimum Qualifications

• Bachelor's degree in accounting, actuarial science, economics, finance or related discipline
• 2+ years of work experience in a fast-paced financial or insurance company
• Familiarity with GAAP and STAT accounting concepts, investment concepts, investment asset classes and capital framework
• Able to travel between Boston, MA and Springfield, MA as needed

The Ideal Qualifications

• 5+ years relevant experience
• 1+ years of experience using Excel and an enterprise level financial modeling tool (e.g. Anaplan, OneStream, TM1, Hyperion, etc.)
• Strong analytical skills and attention to detail
• Critical thinking and problem solving skills
• Strong Microsoft Excel and modeling skills
• Ability to clearly articulate the meaning and impact of the financial results and variances; “tell the story”
• Proven ability to complete high quality work efficiently and increase autonomy over time
• 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 an articulate, organized and persuasive manner to leadership and team members
• Able to work well under pressure and manage multiple deliverables
• Ability to self-educate, drive execution, and challenge status quo
• Proven track record of significant accomplishments

What to Expect as Part of MassMutual and the Team

• Regular meetings with the Strategic Planning and Forecasting, Controllers, Investments and Actuarial Teams
• 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

#LI-BO1

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.