Expense Lead of Allocations and P&L Analytics

Expense Lead of Allocations and P&L Analytics

Full-Time

Boston, MA, New York, NY or Springfield, MA

The Opportunity

Expense analytics provide us insight into our forward-looking segment earnings and capital financial picture which enables strategic decision making.  The Expense Lead of Allocations and P&L Analytics will support and interact with senior business unit leaders in all phases of the expense allocation cycle, including reconciling end-to-end GAAP and STAT expenses, identifying and analyzing opportunities to improve expense efficiencies across the organization, and driving implementation of those initiatives.

To help us achieve our mission, we are hiring an Expense Lead of Allocations and P&L Analytics.

The Team

The Expense Lead of Allocations and P&L Analytics will be part of the FP&A organization, and will report into the Head of Strategic Expense Management. Key characteristics of this role include clear communication, analytical skills, influencing skills, and being able to manage change.

The Impact

A large part of this position’s responsibilities includes supporting and interacting with senior level executives on all things related to expense allocations and P&L analytics.  Analysis includes, but is not limited to, in-depth GAAP and STAT variance analysis at the company consolidated level, unit cost calculations, capital budgeting, and market / peer expense analysis. They will provide the key inputs and analysis for setting annual expense targets, goals, and budget; and will work proactively with finance and business leaders to monitor expenses by business unit and product-level P&Ls. 

• Drive and have full accountability of MassMutual’s expense allocation methodology processes with a continuous focus on refining models as well as identifying and driving improvements to ‘better tell the story’ and model different scenarios.
• Take full ownership of how the expense allocation methodology is applied in actuals, budget, and forecast. As a result, it will require being able to partner closely with stakeholders in Controllers to ensure that the expense allocation methodology is being implemented appropriately in Actuals.
• Maintain and enhance the robust end-to-end expense allocation models in Anaplan to ensure it is driver based and automated.
• Enhance the STAT & GAAP P&L financial reporting structure in Anaplan, model connectivity, and relationships for new reporting requirements and our business partners.
• Analyze and reconcile STAT & GAAP expense results for all legal entities, profit centers, and cost centers.
• Oversee and support in-depth expense analytic projects that will provide the Board and ELT with critical insights to make informed strategic business decisions
• Ensure Anaplan and SAP allocated expense data is accurately transferred to the data lake and downstream dashboards.
• Partner with ETX, Data Management and Management Reporting and Analytics teams to enhance and maintain expense management reporting views that provide end-to-end transparency into allocated expenses.
• Enhance overall governance to ensure that the process is operationalized and executed in a consistent manner every time while also providing stewardship to address cross-functional governance issues.
• Influence in the design of future company expense allocation processes and integrating strategic initiatives.
• Influence the larger team to ensure Anaplan expense training and support are provided to all stakeholders.
• Serve as a team leader that the larger team will be able to rely on.
• Collaborate on strategic initiatives such as expense Dashboards; promote and develop self-serve analysis, detailed reporting, and utilization metrics while ensuring excellent quality controls.

The Minimum Qualifications

• At least 10+ years of work experience with a track record of increasing responsibility within the financial services industry
• Bachelor’s degree in accounting, actuarial science, economics, finance or related discipline
• Minimum of 5+ years developing quarterly and annual expense forecasts
• High degree of financial acumen including but not limited to:
  • GAAP and STAT technical accounting
  • predictive, driver-based forecasting techniques
  • expense allocations
  • inter-company charges
  • scenario modeling
  • expense attribution
• Experience with financial system and dashboard tools, including but not limited to Anaplan, SAP PaPM, SAP S/4HANA, MicroStrategy, and Tableau

The Ideal Qualifications

• Master’s degree in business administration, accounting, finance or related discipline
• Profession