Director, Investment Accounting
Support investment accounting and reporting on a GAAP and statutory basis. Responsibilities include supervision of staff, troubleshooting of reconciliation and technical accounting issues, and analysis results of debt and equity securities, mortgage loans, derivatives, alternative investments, private equity/private placements, as well as the related investment income for financial reporting purposes. Additional responsibilities include providing subject matter experience and expertise utilizing Access, Excel and PeopleSoft ledger. Collaborate across Corporate Finance to support the business processes in Investment Accounting.
Principal Duties and Responsibilities
- Manage the accounting and reporting of investment holdings, including data reconciliation issues; develop and maintain reporting used in monthly, quarterly and annual filings.
- Oversee direct reports, including review of their work product.
- Act as liaison with third-party investment servicer (currently State Street, with transition to Clearwater Analytics in 2020), as well as with internal teams in NAMCO, Actuarial, Tax and other areas, ensuring timely and accurate monthly transaction processing and reporting.
- Manage GAAP and Statutory analysis related to debt and equity securities, alternative investments, private equity/private placements, derivatives and other financial instruments, including analysis of fair and book values, unrealized gains/losses, other comprehensive income and impairments.
- Support accounting and financial reporting for consolidated CLOs.
- Oversee the preparation of investment footnotes for quarterly and annual GAAP and Statutory financial statements including review of disclosure input prepared by others, working closely with the Corporate Accounting area
- Ensure that required regulatory quarterly and annual statutory schedules are prepared, balanced and reconciled for all Nassau’s insurance companies, including review of work performed by others.
- Review all statutory investment schedules (Schedules B, BA, D, DA and DB and related schedules, interrogatories and footnotes) and ensure they are made available to Corporate Accounting on a timely basis.
- Conduct analysis to identify other than temporarily impaired debt securities.
- Participate in quarterly management analysis to aid in decision-making and proper documentation.
- Develop and maintain automated processes and reconciliations for various Investment Accounting functions on an ongoing basis.
- Identify opportunities and make recommendations to gain efficiencies and integrate processes where applicable.
- Extract and report on data from various financial systems.
- Oversee timely and accurate processing of daily cash activity relating to investment activities.
- Review and approve reconciliations of custody cash and investment accounts to the general ledger.
- Interact with others to achieve accurate and timely processing of investment activity.
- Maintain appropriate internal controls over investment accounting and related financial reporting.
- Provide support to internal and external auditors and respond to their requests in a timely manner.
- Perform other duties as assigned.
Knowledge, Skills and Abilities
- Bachelor’s in Accounting or related field; CPA or relevant experience.
- 3-5 years investment accounting experience (Big-4 firm experience a plus).
- In-depth understanding of GAAP/statutory accounting and reporting requirements for investments.
- Demonstrated technical accounting expertise.
- Ability to lead direct and indirect staff, identify critical path items and drive the team to meet deliverables with tight deadlines and dependencies.
- Strong oral and written communication skills.
- Experience with general ledger, financial reporting and analytical tools, including excel. (PeopleSoft general ledger and Clearwater Analytics investment accounting system knowledge a plus).
- Strong project management skills and high standard for quality and attention to detail.
- Ability to manage multiple high visibility, time sensitive projects at once.