VP Finance & Statutory Accounting

About the role

The VP Finance & Statutory Accounting is the senior financial officer of the annuity carrier platform during its formation and early operating phase. This is a combined role — intentionally designed to consolidate functions that would ultimately be separated across a Controller, a VP of Financial Reporting, and a VP of Financial Planning & Analysis as the carrier reaches scale.

Responsibilities

• Build the Financial Infrastructure

  • Statutory Chart of Accounts: Design and implement a statutory chart of accounts in NetSuite aligned to NAIC Annual Statement requirements for a life and annuity carrier.
  • NetSuite–Equisoft Integration: Co-own the accounting system integration with the VP of Operations. Define financial requirements, test GL posting logic, validate premium, commission, and reserve entries through first financial close.
  • Purchase Accounting: Lead the financial accounting for the shell acquisition in coordination with the outside accounting firm. Manage purchase price allocation, opening balance sheet, and fair value adjustments for the existing carrier block. Ensure compliance with applicable GAAP and SAP purchase accounting standards.
  • Statutory Reporting Framework: Establish the statutory reporting infrastructure required for NAIC Quarterly and Annual Statement filings, including the Actuarial Opinion Memorandum coordination with Milliman, risk-based capital (RBC) calculation, and state premium tax returns.
  • First Financial Close: Execute the first monthly close on a timetable consistent with regulatory reporting requirements. Establish close procedures, account reconciliation standards, and financial controls documentation.
  • Seller Communication — Financial: Manage all financial aspects of communications with the seller, including cession operations, existing block reserve settlements, and transition services payments, in coordination with the Bridge Leader and outside counsel.
  • Investment Accounting Setup: Establish investment accounting in coordination with the investment manager, including Schedule D reporting, interest accrual, unrealized gain/loss tracking, and asset-liability management data feeds to Milliman.

• Develop and execute the carrier’s long-term financial strategy in alignment with the Three-Year Insurance Strategy Roadmap.

  • Develop and manage the carrier’s capital management framework, including surplus monitoring, dividend capacity planning, and reinsurance capital relief strategy.
  • Ongoing Statutory Financial Statements: Produce accurate and timely NAIC Quarterly and Annual Statement filings. Own all associated schedules including Schedule A (real estate), Schedule B (mortgages), Schedule D (bonds and stocks), Schedule DA (short-term investments), and the actuarial-linked exhibits.
  • Reserve & Capital Coordination: Integrate Milliman’s reserve and RBC outputs into the statutory ledger. Own the financial elements of the Actuarial Opinion process. Monitor surplus and RBC ratios against regulatory minimums and Board-established targets.
  • Reinsurance Accounting: Manage all reinsurance cession accounting including assumed/ceded premium reporting, treaty settlement statements, recoverable tracking, and Schedule F preparation.
  • Budget & Forecast: Develop and maintain annual budgets, rolling forecasts, and long-range capital plans. Report variance analysis to the Bridge Leader and executive leadership with actionable commentary.
  • Cash Management: Oversee daily cash management, bank account structure, and liquidity monitoring. Coordinate with the investment manager on portfolio cash flows and investable surplus.
  • Tax Compliance: Manage state premium tax filings, retaliatory tax analysis, and coordination with the outside accounting firm on federal and state income tax obligations. Ensure compliance with insurance-specific tax rules including DAC tax and reserve deductions.
  • Internal Controls: Design, implement, and document the carrier’s internal control framework aligned to SOX-equivalent standards appropriate for the Company’s scale and regulatory environment.
  • Board & Regulatory Reporting: Prepare financial materials for the Board Finance/Audit Committee, respond to state examination inquiries, and manage relationships with the domiciliary state’s financial analysis division.

• Vendor & Partner Oversight:

  • Manage the financial relationships with NetSuite, the outside accounting firm, investment custodians, and reinsurance counterparties.

Requirements

• Bachelor’s degree in Accounting, Finance, or a related field; CPA required
• Minimum 8 years of progressive finance and accounting experience
• Minimum 5 years of experience within a life insurance or annuity carrier’s finance or accounting function — this is a non-negotiable domain requirement
• Direct, hands-on experience with statutory accounting principles (SAP) and NAIC Annual Statement preparation — not just exposure
• Experience with policy administration system accounting integration — mapping PAS transactions to a statutory general ledger
• Experience building a finance function from scratch in a startup, greenfield, or de novo carrier context is strongly preferred
• Strong analytical, problem-solving, and communication skills capable of translating statutory accounting complexity into board-level clarity

Preferred Experience

• Experience with NetSuite in a statutory accounting or insurance context
• Experience with purchase accounting for an insurance company acquisition
• Familiarity with Texas Department of Insurance (TDI) financial examination and reporting requirements
• Experience with reinsurance accounting including treaty settlement and Schedule F preparation
• Familiarity with MYGA, FIA, or RILA product accounting including surrender charge amortization, interest crediting accrual, and deferred acquisition cost (DAC) treatment
• Experience managing the transition from a BPO-supported accounting model to an internal function

Compensation

The US base salary range for this full-time position is $115,000 - $140,000 annually. Our salary ranges are determined by role, level, and location. The range displayed on each job posting reflects the minimum and maximum base salary for new hires for the position across all US locations. Within the range, individual pay is determined by multiple factors like job-related skills, experience, and state of residence. Employees in this position must be physically able to efficiently perform the essential functions of the position.