Expense Consultant - P&L Analytics and Strategic Initiatives

Expense Consultant - P&L Analytics and Strategic Initiatives
FP&A, Expense Allocations and Analytics
Full-Time, Hybrid (Boston, MA or Springfield, MA)
The Opportunity
The Expense Consultant - P&L Analytics and Strategic Initiatives will provide expense insights into forward-looking segment earnings and identify critical expense key performance indicators / trends to support proper expense efficiency and expense management. They will analyze GAAP and STAT expense trends on business / product segment P&L statements, identify and analyze opportunities to improve expense business / product segment reporting across the organization, and develop critical expense analytical views to drive data-driven decisions and strategic outcomes through financial insights. To support FP&A's mission to drive data-driven decisions and strategic outcomes through financial insights, cross-functional communication, analytical skills, influencing skills, and being able to manage difficult situations are key to the success of the position.
This is an opportunity for an individual to own all things related to expense analytics, including reviewing business / product segment attribution, expense benchmarking analysis compared to industry peers, and financial statement analysis. We are seeking a financial professional who has experience in financial analytics, expense allocation, Finance technology architecture, flow of data into and out of various financial systems, and business intelligence dashboard tools (to be able to enhance existing dashboard views and/or to build new dashboard views). They should excel at working collaboratively and cross-functionally with senior stakeholders to ensure that the expense story is told in a meaningful way while identify actionable insights that senior leaders can take to improve business segment and product profitability.
The Team
This newly created team is responsible for owning MassMutual's company-wide expense allocation methodology and for establishing transparency into allocated expense results. This team is part of the FP&A Expense team, and there will be cross-functional communication and support with stakeholders from FP&A and across Finance. The team will look to leverage Finance tools to automate business-as-usual processes and work towards an autonomous Finance operating model.
The Impact
Reporting into the Lead of Expense Allocations and P&L Analytics, the Expense Consultant - P&L Analytics and Strategic Initiatives will be a member of the FP&A Expense team.
They will support and interact with senior management / cross-functional stakeholders on all things related to P&L analytics, expense strategic initiatives, and expense attribution. They should be comfortable owning / leading cross-functional strategic initiatives that are reported to senior management, including MassMutual's Executive Leadership Team and Senior Leadership Team. The ability to pay attention to detail while translating and distilling complex financial issues into usable facts and suggestions will also be critical.

• Own the creation of expense P&L analytics, including identifying and summarizing critical expense trends / indicators based on the latest plan / quarterly forecast allocated expense results and YTD actual allocated expense results
• Own the expense attribution for business / product segment reporting, including explaining the 'why' of expense variances and being able to 'tell the story' in an easy-to-understand, consumable manner to different audiences
• Analyze and reconcile STAT & GAAP expense results for MassMutual's companies and products.
• Lead cross-functional strategic initiatives related to expense efficiencies, including expense efficiency analyses to analyze how MassMutual's business / product segment expenses compare vs. industry peers
• Support expense drill-down analytics into unit cost calculation and unit cost trends
• Aggregate expense analytic findings into executive-friendly presentations, and present any critical findings from expense analyses (e.g., products with YoY expense increases that are not offset by YoY revenue increases) to MassMutual's Executive Leadership Team and Senior Leadership Team, with insight into strategic actions that management can take to improve expense management and expense efficiency
• Partner with Product Team, Strategic Finance Business Partners, Controllers, and FP&A Expense Team to enhance existing and/or create new allocated expense analytical views to answer critical business questions being asked by business leaders and Finance leaders, with a focus on developing self-service analytics to key business partners
• Analyze recurring questions from Product, SFBP, Controllers, and FP&A related to expenses, and partner with Data Management and FVMD to create new allocated expense analytical views (in a strategic data structure to answer today's questions, as well as future questions not yet asked)
• Be actively involved in future state improvements discussions with Data Management and Financial Visualization and Model Development to enhance existing dashboard views and/or create new dashboard views that provide end-to-end transparency into allocated expenses
• Provide tailored expense knowledge shares and/or trainings to key Finance and Business stakeholders to ensure the Company's self-service model is embraced, particularly for allocated expense dashboards
• Be a 'team player' and come to work everyday with a positive attitude

The Minimum Qualifications

• Bachelor's degree in accounting, actuarial science, economics, finance or related discipline
• 5+ years of finance experience with a track record of increasing responsibility
• 2+ years developing quarterly and annual expense forecasts
• 2+ years producing and supporting expense analytical reports at the consolidated, business, and product levels
• 2+ years leading long-term, cross-functional initiatives / projects, including establishing and following a project timeline, producing deliverables on time, and documenting key changes

The Ideal Qualifications

• 5+ years of finance experience from the financial services industry
• Master's degree in business administration, accounting, finance or related discipline
• Professional certifications preferred (such as CPA, MBA, FSA, CFA and-or FCIA)
• High degree of financial acumen including but not limited to:
  • GAAP and STAT technical accounting
  • Driver-based forecasting techniques and best practices
  • Expense allocations
  • Financial scenario modeling
  • Expense attribution
• Experience working with financial systems, particularly Anaplan, SAP (GL), MicroStrategy, and Apptio

What to Expect as Part of MassMutual and the Team

• Regular meetings with the FP&A Expense Team
• 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.
Salary Range: $110,400.00-$144,900.00