Director, Separately Managed Accounts

 

Director of Separate Accounts Reporting

 

Summary

Our client is a PE backed life insurance firm. Our client is an active writer of life and annuities policies and has a successful track record of acquiring companies and blocks of business, which will continue to be a significant driver of company growth. 

 

The company is looking to grow within the institutional annuities space, where future new business in this line of business will require funds to be placed in separate accounts and Green Book reporting.

 

Our client is seeking a talented Director, Separate Accounts Reporting to build out the accounting and reporting that supports the separate accounts operations, including Green Book reporting capabilities. The Director will have the ability to design the process from the start and will be offered the opportunity to grow in the company as the line of business grows. This is the first role in the accounting and reporting team with a focus on separate accounts. The Director will also work with the broader U.S. Statutory and U.S. GAAP accounting and reporting teams on reporting requirements and the accounting control environment. The Director will also assist in the oversight of the broader team.

 

Major Duties and Responsibilities include the following. Other duties may be assigned.

Here’s a more detailed version of the Key Responsibilities for the Director of Separate Accounts Reporting role:

 

·        Financial Reporting:

·        Prepare, analyze, and present monthly, quarterly, and annual financial information/statements on separate accounts

·        Ensure accurate regulatory filings, including statutory accounting reports in compliance with NAIC, including separate accounts, and US GAAP guidelines

·        Provide detailed variance analysis and identify trends to support senior management decision-making

·        Accounting Operations:

·        Establish process to record transactions related to the separate accounts

·        Ensure proper accounting treatment for all separate accounts assets and liabilities

·        Review and maintain general ledger accounts

·        Compliance:

·        Understand changes in regulatory requirements and implement necessary updates to ensure compliance with GAAP and statutory accounting principles, including separate accounts reporting

·        Establish and maintain internal controls to safeguard assets and ensure integrity in financial reporting

·        Process Improvement:

·        Design and implement strategies to optimize accounting processes, including automation of routine tasks and enhancing reporting tools

·        Collaborate with IT and other departments to upgrade accounting systems or integrate new technologies

·        Stakeholder Collaboration:

·        Work closely with TPA, actuarial, investments, and external auditors to provide accurate and timely data

·        Special Projects:

·        Manage or contribute to initiatives such as mergers and acquisitions, system migrations, or policy changes

 

Job Qualifications:  

·        Prior experiences with separate accounts accounting and reporting

·        Being self-motivated to succeed in an autonomous work environment

·        Collaborative and a team player

·        Sharp attention to detail is a key priority

·        Strong analytical, organizational and problem-solving skills

·        Demonstrate strong initiative and ability to take on new and challenging assignments

·        Proven ability to work under tight deadlines and stressful situations with attention to detail

·        Accountable for quality, accuracy, and results of operational data

·        Fluent with advanced Excel spreadsheet functions

 

Education and/or Experience and Skills:

·        Bachelor’s degree in Accounting or Finance

·        6+ years of experience in insurance accounting and reporting, and 2+ years specifically with separate accounts

·        Ability to effectively communicate with senior management across the organization

·        Strong knowledge of investment products including bonds, mortgage loans, derivatives and limited partnerships, accounting principles, and regulatory requirements

·        Ability to multi-task and adjust quickly in a fast-paced environment, with the ability to change priorities to meet critical deadlines

·        Position requires proficiency and accuracy in using computer system databases 

·        MS Word and Excel spreadsheet skills are required 

·        Occasional travel necessary (up to 10%)