The Director, Investment Accounting is responsible for ensuring the proper accounting and reporting for the company’s complex portfolio of investments, performing detailed analysis of investment results and communicating to senior management. The Director, Investment Accounting is a critical partner with the TPAs and Investment Advisors/Managers, and is responsible for the accuracy of the investment information in regulatory filings and the financial statements of company, as well as, related disclosures. This role also manages the relationships with actuarial and other areas within the Company to ensure that investment information disseminated across the Company is complete, accurate, and timely. Supervision of managers or senior accountants or other positions on either a project level or on a full-time reporting basis is possible.

Profile Responsibilities:

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Prepare/review the quarterly pricing analysis to ensure that the valuation of is consistent with the company’s stated policy and current accounting standards and guidelines.

• Perform back testing of investments to ensure leveling of investments is accurate.

• Review the investment portfolio on a quarterly basis and evaluate for potential impairments on a STAT and GAAP basis and work closely with the members of the Impairment Committee and Asset Managers to determine the amount of any OTTI, if any.

• For each monthly, quarterly and annual reporting period, review and challenge the investment data received from the TPAs. Review all data for completeness and accuracy while also gaining an understanding of underlying drivers of investment results and communicate to senior management.

• Oversee the coordination of the automated feeds of investment data from the TPAs into the quarterly statutory financial statements for the company and the company’s subsidiary captive.

• Prepare accruals and journal entries, reconcile sub-feeds and record data in the GL, etc.

• Provide the appropriate investment reporting and analysis on a monthly basis to the company’s senior management. Be proactive in developing new analyses to detect and prevent misstatements in financial results.

• Analysis of investment financial results on statutory/GAAP basis – including working with various areas such as risk/actuarial, external investment managers, operations, etc.

• Research of accounting literature for new investment products or scenarios, document the conclusions and work with the company’s independent auditors to gain approval.

• Monitor changes in accounting principles (STAT and GAAP) to determine the impact on the Company’s current investment portfolio and/or future investment strategies. Document approach

• Reconcile investment balance sheet accounts from various data. Develop, document and implement controls and procedures in accordance with Sarb-Ox and MAR.

• Support in the development of initial PGAAP investment balance sheet and underlying GAAP processes for ongoing operations.

• Key liaison with external and internal audit

• Key liaison with the company’s Treasury and Asset Managers.

• Maintain structure of the GL/other data systems to meet the company’s current and future reporting

• Support the development and maintenance of all investment related policies, including accounting, valuation, impairments and operational.

Knowledge & Experience:

• A Bachelor’s degree with a concentration in finance or accounting.

• CPA, CFA and/or MBA is strongly preferred.

• 10-15 years of investment accounting experience, with at least half of the experience managing an investment accounting function within the insurance industry.

• Experience with life insurance, annuity products and/or reinsurance is a strong plus.

• Solid understanding of complex investments, including but not limited to: derivatives, private placements, commercial mortgage loans, private equity securities.

• An in-depth knowledge of financial reporting and related close cycle in the general ledger.

• Expertise in accounting systems and controls typically found in the insurance industry.

• A solid understanding of the accounting requirements for investment products in accordance with statutory and GAAP accounting principles

• Strong leadership and people management skills.

• Strong communication and interpersonal skills.

• Ability to collaborate with key partners and business leaders.

• Proven track record of constant process improvement and innovation.

• Demonstrated ability to deliver results under pressure in a tight timeframe

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