Director of Financial Reporting
LOCATION Northern NJ
LISTING POSTED 27 February 2019
CATEGORY Filled Jobs
JOB TYPE Direct-Hire
COMPENSATION $150,000- $180,000
This position reports to the Chief Insurance Accountant in the Accounting Policy Unit, which is part of the Corporate Controller’s Department. This position involves providing accounting guidance related to insurance products and reinsurance transactions. In this area, the focus will mainly be with the Retirement business. In the next couple of years, this position will have heavy involvement with the FASB’s recent accounting standard called Targeted Improvements to the Accounting for Long-Duration Insurance Contracts, which is effective 1/1/21. This is the most impactful accounting standard for the insurance industry in close to 40 years. This position provides for significant interaction with Business Unit Controllers/staff, Corporate Actuarial and our External Auditors. As part of the implementation of the new insurance accounting standard, this person will have numerous interactions with accountants from the insurance industry through the ACLI, AICPA Insurance Experts Panel, etc. This position requires strong technical insurance accounting skills, along with strong technical and problem-solving skills. Successful candidates will gain an understanding of transactions and key product economics in a variety of businesses.
Main responsibilities in this area include:
- Preparing or reviewing US GAAP accounting & actuarial policies related to implementing the new insurance accounting standard.
- Preparing or reviewing US GAAP and Statutory accounting policies related to existing insurance products; new product launches, and analyzing complex transactions, e.g., reinsurance transactions.
- Interacting with external auditors on accounting conclusions.
- Being the main liaison with specific Business Unit Controllers/staff and Corporate Actuarial on insurance accounting matters. This includes leading monthly meetings with the aforementioned BU Controllers/staff.
- Monitoring, analyzing and commenting on emerging accounting issues from the FASB, SEC and NAIC.
- Providing responses to SEC comment letters related to insurance accounting matters.
- Preparing and presenting to the Company Controller and Senor Finance Management on key accounting issues.
- Coordinating disclosures pertaining to accounting policy matters, e.g., Footnote 2 of the PFI 10K.
Qualifications
- Bachelor’s degree in Accounting
- CPA is required
- 8+ years GAAP accounting and financial reporting experience required
- Technical GAAP and/or Statutory insurance accounting experience required
- Strong analytical and problem-solving skills
- Very strong written and verbal communication skills
- Strong PowerPoint skills desired