Wealth Accounting Lead

Owns the preparation and analysis of complex product line financial results, ensuring conformance with statutory and GAAP accounting standards, as well as compliance with FINRA and SEC regulations.

Responsibilities

• Independently performs financial accounting functions for assigned products and processes, including accounting transactions and balances related to revenue, fees, expenses, field compensation, and associated suspense accounts.
• Ensures the accuracy of accounting generated by numerous contract administration systems and any vital manual accounting.
• Researches and resolves complex reconciliation issues, imbalances, and open suspense items.
• Provides mentorship and coaching to others in the Division performing accounting and control activities.
• Analyzes balance sheet and income statement accounts to ensure accuracy.
• Maintains an effective internal control environment and ensures continued compliance with FINRA and SEC regulations.
• Performs accurate, timely, and value-added complex core financial statement and analytical reporting for product lines on both a statutory and GAAP basis.
• Prepares reports and information for inclusion in Board reporting, regulatory filings, and other management financial reports.
• Analyzes financial activity for alignment with expectations and identification of trends or unusual items, utilizing operational indicators, business plans/projections, and actuarial information.
• Analyzes product accounting and related administration systems to identify potential enhancements to improve accuracy and efficiency.
• Leads efforts to implement system or process improvements, including those involving change in operating departments.
• Collaborates with project teams to acquire a thorough understanding of changes and independently develops and delivers comprehensive and clear accounting, reporting, and testing requirements.
• Ensures adequate accounting control structures are designed and implemented, and all necessary accounting information is completely and accurately recorded in financial accounting systems.
• Leads ongoing sustainability efforts to ensure continued compliance with the NAIC Model Audit Rule for assigned significant processes.
• Independently plans a sustainability approach and schedule.
• Collaborates with process owners and subject matter experts across the Company to ensure adequate internal controls are in place and operating effectively, and that related control documentation is developed and maintained as business changes occur.
• Researches, analyzes, and coordinates the resolution of product accounting and reporting issues.
• Leads the implementation of new accounting and reporting requirements and standards impacting products.
• Represents the Division on projects, audits, task forces, and other special projects related to Northwestern Mutual's products and services.

Requirements

• Bachelor's degree in accounting or related field, or equivalent education plus experience.
• Minimum of 5 years of relevant professional accounting experience.
• Public accounting experience preferred.
• Certified Public Accountant (CPA) designation preferred.
• Experience with the application of statutory or GAAP accounting standards in the insurance or financial services industries.
• Proven analytical and decision-making skills.
• Proven track record to act independently.
• Excellent communication skills.
• Extensive knowledge of insurance and investment products and the financial services industry, including Northwestern Mutual's business functions, products, and operations.
• This position has been classified as an Associated Person under NMIS guidelines and requires fingerprinting and completion of required form.
• Non-Registered Fingerprinted - FINRA.

Pay

Compensation range starts at $81,280.00 and goes up to $140,160.00 USD, depending on location and experience. Geographic-specific pay structures apply for candidates in California, New York City, or other eligible locations:

• Standard pay structure: $81,280.00 - $121,920.00 (Structure 110)
• Geographic-specific pay structure: $89,440.00 - $134,160.00 (Structure 115)
• California/New York City pay structure: $93,440.00 - $140,160.00

Benefits

• Flexible work schedules
• Concierge service
• Comprehensive benefits
• Employee resource groups