Position OverviewObra Capital is seeking a Director, Insurance Accounting to lead the insurance operations accounting function for the firm's insurance entities from New York. The Director oversees a team responsible for statutory financial reporting, cash management, daily reconciliations, premium accounting, and operational accounting across both entities. This role serves as the primary resource for technical accounting research, ensures compliance with Statutory Accounting Principles, and coordinates with the New York-based investment accounting team on consolidated financial reporting, intercompany settlements, and enterprise-wide internal controls. The Director also plans, performs, and reports on annual audits of various third party administrators.
Responsibilities- Oversee all aspects of insurance operations accounting across both entities, including premium accounting, policy liabilities, claims reserves, reinsurance settlements, cash management, and treasury services.
- Ensure the accurate and timely filing of the annual/quarterly statements with the NAIC, AM Best, and MCAS for both Unified Life Insurance Company and Alta Life and Annuity Company, including all applicable state-specific filing requirements.
- Serve as primary point of contact for external and/or regulatory audits.
- Manage the preparation of audited financial statements and disclosures.
- Oversee banking and TPA relationships; coordinate with the New York investment accounting team on custodial matters and investment-related settlements.
- Review monthly and quarterly financial reporting packages and supporting reconciliations.
- Research new (and/or modify) existing accounting pronouncements to ensure the Companies' compliance with Statutory Accounting Principles (SAP) and that all new accounting standards are accurately adopted.
- Provide ongoing guidance on accounting implications of new products or proposed transactions.
- Directly manage and develop the Indianapolis-based finance team; set goals, delegate work, and provide ongoing coaching and performance management.
- Manage and perform the annual on-site audits of multiple third party administrators.
- Partner with the New York investment accounting team on intercompany positions, investment income allocations, and consolidated reporting packages.
- Support preparation of consolidated financial statements across Alta Group Management entities; maintain intercompany eliminations and assist with group-level reporting requirements.
- Collaborate with New York counterparts for control oversight; design and maintain a robust internal control environment over insurance operations accounting.
- Serve as primary contact for state insurance department financial examinations across both entity domiciles; coordinate regulatory responses and exam management.
- Complete ad hoc requests from management as assigned.
Qualifications- Bachelor's degree in Accounting or Finance required; CPA preferred.
- 8+ years of related experience in the life insurance industry required; prior experience in a holding company or multi-entity insurance structure strongly preferred.
- Strong understanding of Statutory Accounting Principles. Working knowledge of GAAP life insurance accounting principles, including reinsurance accounting and treaty settlements.
- Ability to research SAP accounting issues and reach technical conclusions.
- Ability to manage people, processes, and projects and allocate resources within the department.
- Strong understanding of general ledger systems, internal controls, and control design in a multi-entity environment; experience with insurance accounting systems a plus.
- Ability to work collaboratively with actuarial teams on reserve development, assumption changes, and policy liability movements.
- Proven ability to collaborate across geographically dispersed teams and operate effectively in a matrixed organization.
- Excellent written and oral communication skills; ability to present financial information clearly to senior leadership and external stakeholders.
Compensation:The expected base salary range for this role is outlined below. In addition to the base salary, total compensation may include a discretionary bonus based on performance. This range reflects a variety of factors, including years of relevant experience, education, and other qualifications pertinent to the position.
$175,000-$225,000
The firm also offers robust Benefits offerings which include Comprehensive Medical/Rx, Dental and Vision plans; 401(k) program with company match; Flexible Savings Accounts (FSA); Healthcare Savings Accounts (HSA) with company contribution; Basic and Voluntary Life Insurance; Long-Term Disability (LTD) and Short-Term Disability (STD) insurance; and Commuter Benefits plan for parking and transit. In addition all employees of Obra are provided with a daily lunch stipend.
