Corporate Expense Accountant

The Opportunity

We are seeking a highly skilled Senior Accountant to provide oversight of Mass Mutual’s fixed assets, intangible assets (including internally developed software), and lease accounting. In this role you will provide expert guidance on corporate processes to a wide audience, provide oversight to an offshore team, and ensure compliance with internal policies, US GAAP/IFRS, and statutory accounting principles. You will serve as the subject matter expert for all related accounting issues, researching and collaborating with accounting policy on new and emerging issues, able to translate accounting policy memorandums into operational processes with key controls.

Full Time. Springfield, MA.

The expense team is responsible for ensuring the accuracy and integrity of the ledgers for all operating expense accounts and select balance sheet accounts. Where we do not directly control the expenses, assets, and liabilities, we partner with others to validate the amounts and understand any changes. As a team, we are accountable for leases, fixed and intangible assets, select inventory accounts, impairments, intercompany management fee agreements, corporate expense accrual process, financial exhibits, select footnotes, quarterly expense commentaries for both GAAP and STAT, and general support and training to cost centers owners.

In this role you will directly impact the accuracy and integrity of Mass Mutual’s FA and leasing subledgers, as well as expense ledger and balance sheets for all related accounts. You will become a key subject matter expert understanding a multitude of expense accounting topics, helping business partners navigate corporate processes, monitoring and improving our key controls, solving problems, and translating accounting data into valuable information.

You will also serve a vital role in assisting with the modernization and relaunching of SAP’s Fixed Assets subledger as part of a multiyear plan to upgrade our enterprise resource planning software – moving from SAP R3 to SAP S4 HANA.

• Oversee the acquisition, capitalization, tracking, depreciation, revaluation, and disposal of fixed assets (SAP FA sub ledger).
• Maintain and reconcile the fixed asset sub ledger to the SAP general ledger, ensuring completeness and accuracy.
• Assist and advise Procurement and Accounts Payable on capital expenditures and prepaid accounting treatments.
• Ensure compliance with company capitalization thresholds and asset classification policies.

• Manage accounting for intangible assets, including software developed internally and acquired externally.
• Apply appropriate capitalization and amortization rules for internal-use software, cloud computing arrangements, and other intangible assets.
• Distinguish between research and development phases for internally generated intangible assets; expense or capitalize costs as required.
• Track and report on the useful life, impairment, and amortization of intangible assets, including providing guidance on asset impairments and write offs.
• Lead monthly assets under construction governance calls, ensuring compliance with appropriate accounting policies and guidance.

• Oversee lease accounting in accordance with ASC 842, IFRS and other relevant standards.
• Track and account for leasehold improvements, sale-leasebacks, and related transactions.
• Ensure proper classification, amortization, and reporting of lease assets and liabilities. (Lease Harbor sub ledger)
• Collaborate with facilities and legal teams to ensure accurate lease documentation and compliance.

• Develop and maintain robust internal controls for asset and lease management.
• Provide expense accounting oversight and support to Enterprise Technology and Experience organization (IT), ensuring the accurate and timely recognition of expenses.
• Prepare monthly, quarterly, and annual reports, roll forwards and footnotes on asset and lease activity.
• Support budget preparation and financial analysis related to assets and leases, where actuals can inform the budgeting and…