Business Operations Consultant, Funding Agreements

Company: MassMutual
Location: Hartford
Posted on: April 29, 2025

Job Description:

The Opportunity -We're looking to hire a Business Operations Consultant, Funding Agreements to be a member of our small funding agreements operations team. With an operational and entrepreneurial mindset, you'll participate in driving enhancements to our administration system as we seek to grow the business for MassMutual. You'll assist and drive the process for new business acquisition either closed block or bidding new business.The Team -As part of the Funding Agreements team, you'll work strategically and tactically. In this small team, members collaborate to handle daily tasks and plan for future growth. You'll also interact with internal teams like systems, cash operations, and expenses, as well as external clients.The Impact: -As the Business Operations Consultant, Funding Agreements, your responsibilities will include but not be limited to the following:

• Drive general program level implementation of Funding Agreement operational development and acquisition of future business opportunities (Muni GIC, FABN, and other product solutions)
• Become an expert with Muni GIC contract adjudication, system administration and calculation of coupon interest across different methods of payment.
• Work closely with systems teams to drive development, testing, business readiness and general implementation of CML Administration System and development and utilization of the Filenet & P8 electronic workbench.
• Administer MassMutual's Funding Agreement daily transaction and business flows:
  • Utilize SAP based CML administration system to initiate contract payments and deposits and produce periodic client reports
  • Respond to client requests for information such as financial data and projected contract balances and reconciliation questions
  • Understand month end contractual reserves and balances via SAP for financial reporting and business performance measures
  • Operational Responsibilities:
    • Provide service for daily interactions with external customers and partners (Bond Trustees, Municipalities, GIC Service Recipients (GECC), Paying agents - answer questions and provide necessary day to day support - handle deposits and withdrawals
    • Support daily interactions with internal partners (Finance, Treasury, Actuarial, Legal and Systems) - in support of specific customer questions, support build and enhancements of our day-to-day operations and system and month end accounting and financial analysis
    • Produce periodic reports for management, compliance requirements, risk management and general audit requests
    • Drive the development, implementation and utilization of standard work in support of servicing Funding Agreement contract holders, with respect to services that include, but are not limited to:
      • Scheduled and unscheduled cash flow activity (interest payments, principal payments, additional contract deposits)
      • Contract maturity /early termination (including Make-Whole calculation, where applicable)
      • Monthly contract statement processes and reconciliations
      • Assist in the development of a customer service culture, including building and leveraging relationships with key stakeholders (contract holders, Trustees, MM shared services providers, etc.).
      • Proactive collaboration with MassMutual shared services and internal stakeholder teams to develop, implement and, where necessary, adjust, standard work related to the processes that will support the Funding Agreement business, including, but not limited to:
        • Treasury: Collateral Management; Bank account reconciliations, Wire maintenance and Relationship management with banks and collateral agent.
        • Corporate Finance: Monthly/Quarterly close activities related to accounting and reporting of business results in the Company's books and records and, ultimately, financial statements.
        • Corporate Actuarial: Valuation and reserving for the underlying GIC obligations.
        • Investment Management: Tracking and reporting of assets transferred
        • Legal and Compliance: Contract amendments
        • MassMutual Technology: All aspects of information technology support for the Funding Agreement Business
        • Learn and become subject matter expert on CML - SAP administration system and serve as a technical resource when the system is updated and tested for new products or features.
        • Learn and understand Funding Agreement contracts - be able to interpret legal language and properly adjudicate customer requests for deposits, withdraw requests, termination and other provisionsThe Minimum Qualifications -
          • High School Diploma
          • 8+ years of experience in financial services operations
          • 4+ years of experience partnering internal stakeholders and external clientsThe Ideal Qualifications -
            • Strong Finance skills with ability to understand Funding Agreement contract economics
            • Ability to work independently and be part of designing a high-performance team
            • Strong organizational skills with attention to detail
            • Strong written and verbal communication skills
            • Strong customer service skills
            • Drive innovation and change relating to servicing the customer and developing efficient day to day operationsWhat to Expect as Part of MassMutual and the Team -
              • Regular meetings with the Funding Agreements Team -
              • Focused one-on-one meetings with your manager -
              • Access to mentorship opportunities - -
              • Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQIA+, 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-BC1MassMutual 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.

Keywords: MassMutual, North Attleborough , Business Operations Consultant, Funding Agreements, Professions , Hartford, Massachusetts