Director Investment Accounting & Reporting

About the role

This position conducts management and technical oversight of the Investment Accounting and Reporting business unit/function for the Organization and all subsidiary and affiliate companies. The role manages a professional staff of investment accountants responsible for accounting, reporting, and consolidation of a wide range of asset classes within U.S. GAAP and Statutory Accounting Principles (SAP) frameworks. Responsibilities include assessing the current accounting landscape, developing strategies for evolving pronouncements, evaluating system processes, and implementing best practices to drive the business unit forward while aligning with Treasury and Enterprise objectives.

Responsibilities

• Perform management responsibilities, including hiring, termination decisions, coaching, development, rewards, recognition, performance management, and staff productivity.
• Plan, organize, staff, direct, and control the day-to-day operations of the department; develop and implement policies and programs; may have budgetary responsibility.
• Direct and oversee the Investment Accounting & Reporting business unit in the timely and accurate monthly reporting of investment results, including income, assets, and equity/surplus impacts for the Organization and all subsidiaries/affiliates. Manage the monthly close cycle for both GAAP and Statutory Reporting with a focus on enhanced analytics.
• Cultivate strong relationships with business partners to understand business needs and provide analytical support.
• Direct and oversee internal/external financial reporting and income analysis on investment portfolios in accordance with GAAP and Statutory Accounting Principles, including determining the proper reporting of complex investment transactions and communicating results to senior management.
• Conceptualize opportunities to optimize functionality within the investment accounting system to streamline reporting and provide value-added analysis.
• Ensure regulatory compliance of investment schedules for quarterly and annual regulatory reports, external rating agency reports, and monthly management reports. Maintain a strong control environment in accordance with GAAP, Statutory Reporting, and Model Audit Rule.
• Stay abreast of new accounting pronouncements, capital markets, and industry standards. Communicate with senior management and key stakeholders to assess risks and opportunities.
• Partner with business unit leaders (e.g., Financial Reporting, Tax, Portfolio Managers) to implement new standards and understand business impacts.
• Evaluate Clearwater system process enhancements to plan for growth, new asset classes, and system upgrades. Identify new capabilities and evaluate functionality against cost and risk.
• Manage the relationship with the investment system vendor and evaluate new software vendors to ensure the Enterprise utilizes a "best-in-class" system while managing budget constraints.
• Develop, execute, and measure business unit goals, strategies, and objectives to align with Treasury and Enterprise objectives. Lead and mentor direct reports to enhance technical skills.
• Conduct administration functions to support the Clearwater system database and portfolio structuring, including software installations for newly acquired entities, general ledger interfaces, and system conversions/reconciliations.
• Other duties as assigned or requested.

Requirements

• Bachelor’s Degree in Accounting or Finance (required).
• Master’s Degree in Accounting or Finance or CPA (preferred).
• 10 years of accounting experience, including GAAP and Statutory financial reporting or auditing (required).
• 8 years of investment accounting experience with an insurance company, bank, or investment company (required).
• 8 years of experience with multi-basis accounting concepts for investments, including amortization, income accruals, and calculation of gains/losses (required).
• 5 years of experience managing and/or supervising professional staff (required).
• 8 years of experience utilizing investment accounting software systems (required).
• 12 years of accounting experience, including GAAP and Statutory financial reporting or auditing (preferred).
• 10 years of investment accounting experience with an insurance company, bank, or investment company (preferred).
• 10 years of experience with multi-basis accounting concepts (preferred).
• 8 years of experience managing and supervising professional staff (preferred).
• 10 years of experience utilizing investment accounting software systems, particularly Clearwater (preferred).
• CPA, CMA, or CTP certification (preferred).

Work Environment

• Office-based position.
• Occasional travel to various work sites.
• Occasional lifting up to 10 pounds.
• Regularly teaches/trains others.