The Manager, Investment Accounting and Reporting role will be responsible for accurate and timely reporting of Investment results under USGAAP and statutory basis of accounting. Acts as an adept analytical and technical resource focusing on critical business priorities and process improvements.
- Oversee accounting close procedures, including analytical reviews of income earned, unsettled trades, suspense accounts, capital realized gains/losses, and other financial statement line items.
- Responsible for reviewing monthly investment reconciliation between the ledger and subledger for various insurance subsidiaries on a GAAP and STAT basis for all invested assets, including identifying the variances, researching root causes and other investment accounting activities and ensure unreconciled items are cleared by appropriate deadlines.
- Review and ensure appropriate deferrals are made as a result of asset transfers activities between insurance companies. Review adjusting entries to ensure compliances with USGAAP consolidated accounting rules.
- Responsible for gathering, researching, and maintaining all SVO required data and filings. Ensure that all filings and information are in compliance with the NAIC Purposes and Procedures Manual of the NAIC Securities Valuation Office
- Completion of GAAP and STAT reporting for investments, including 10Q, 10K, MD&A and NAIC annual and quarterly statements and related analysis, ensuring completeness, accuracy and the timely delivery of investment information. Provides analysis of results for variance in trends and against expected results.
- Produce and review investment data and tables used for Corporate Model submission, RBC calculations, and Investment surveys for Rating Agencies.
- Facilitate internal and external audits related to Investment results.
- Oversees quarterly impairments process to ensure compliances with USGAAP and Statutory accounting rules.
- Responsible for oversight, mentoring, and development of seniors and other staff members. (2-3 direct reports)
- Partners across several internal and external customers including, but not limited to, Investment Trading desk, Portfolio Management Team, Middle Office, Back office, Risk Management, Valuations, Tax, Treasury, and other business units.
- Ensure compliance with internal control procedures and maintenance of evidence of controls. Assists in the review and maintenance of control documentation and ensures all controls are completed timely.
- Actively seeks and proposes methods for continuing process improvements in the accounting close, reporting, income analysis and system functions.
- Responsible for understanding and complying with firm policies and procedures while performing the role outlined above
Knowledge & Experience
- Degree in Accounting or Finance and CPA required
- In-depth knowledge of Insurance Industry
- Strong analytical skills with ability to manage large amounts of datasets or models in a dynamic environment
- 5+ years of managerial experience managing Insurance general invested assets and reporting workstreams
- Experience with investment accounting application like CAMRA or PAM is highly desirable
- Technology Experience – Hyperion (HFM), PAM, CAMRA, SmartView, Essbase, Bloomberg, Oracle, WDesk