Assistant Director, Wealth Accounting

Northwestern Mutual•Milwaukee, WI

25d•$108,160 - $162,240•Hybrid

About The Position

Oversees the financial accounting functions and related control activities for the Company’s investment product subsidiaries, the Wealth Management Company (WMC), and Northwestern Mutual Investment Services, LLC (NMIS). Ensures products, systems, and processes conform to GAAP standards and securities and banking laws. Coordinates the monthly close process and provides quality assurance review of financial statements and analytical reporting. Leads the development and continuous improvement of business capabilities aligned with Finance Department goals and strategies. The role maintains accounting control standards and documentation for wealth transactions and balances, including broker-dealer and wealth management company activity. It provides subject matter expertise on assigned products, systems, and processes, especially in cross-departmental strategic projects with significant complexity or risk. The position represents Finance in systems projects, promotes efficient processes and appropriate system functionality, and ensures financial accounting information is completely and accurately captured. The Assistant Director supervises month-end close, reviews trial balances, delivers financial analysis, supports planning and forecasting, and manages information for financial and regulatory audits and examinations. The role manages external business-partner relationships related to financial close and partners with Finance and Wealth leaders to improve accounting, reconciliation, investment-product administration, and reporting processes. It explains data flows between administration and financial accounting systems, directs problem correction, and develops solutions to prevent recurrence. The position applies expert knowledge of GAAP to new guidance and unique business transactions, conducts high-level technical accounting research, and ensures changes are implemented in accordance with requirements. This role is classified as an Associated Person under NMIS guidelines and requires fingerprinting and completion of a required form; it is identified as Non-Registered Fingerprinted under FINRA.

Requirements

Bachelor’s degree in accounting or a related field, or equivalent education plus experience.
At least 7 years of relevant professional accounting experience.
Experience applying statutory or GAAP accounting standards in the insurance or financial services industries.
Strong analytical, critical-thinking, data-analysis, and research skills.
Excellent written and verbal communication skills.
Proven leadership in people and change management.
Proven leadership in project management.
Ability to apply financial accounting principles, processes, and systems to support accurate and efficient financial activities and maintain controls in accordance with internal frameworks, laws, and regulations.
Ability to collaborate and plan across functions and teams.
Knowledge of investment products, concepts, markets, and regulations.

Nice To Haves

Public accounting experience.
Certified Public Accountant (CPA) designation.
Experience designing and evaluating internal controls for Model Audit Rule or Sarbanes-Oxley compliance.

Responsibilities

Maintain accounting control standards and documentation for wealth transactions and balances, including broker-dealer and wealth management company activity.
Collaborate with process owners to maintain compliance with internal control requirements.
Provide subject matter expertise for assigned products, systems, and processes in projects, including complex or high-risk cross-departmental initiatives.
Represent Finance in wealth-related systems projects, communicate key issues, and share best practices and insights.
Ensure financial accounting information is completely and accurately captured in financial accounting systems.
Influence leaders to use system functionality and business processes that meet efficiency, accounting, and control needs; manage change across Finance, IT, and operating departments.
Supervise accurate and timely month-end close processes and perform detailed quality assurance review of trial balances and financial analysis.
Support financial planning and forecasting by delivering financial records and analysis.
Manage delivery of information for financial and regulatory audits and examinations.
Manage relationships with external business partners related to financial close.
Lead development and continuous improvement of financial analysis, transactional accounting, reconciliation, and other capabilities aligned with Finance Department goals.
Promote accounting-information visibility and access, simplified and flexible accounting programs, automation, stronger internal controls, and prevention of accounting issues and variances.
Evaluate capability maturity and develop a vision for the future state; collaborate with leaders to ensure activities are initiated and implemented as planned.
Partner with Wealth leaders to develop business processes supporting investment-product administration and related accounting.
Explain data flows between administration systems and downstream financial accounting systems.
Direct correction of existing problems and provide solutions to prevent future problems.
Apply GAAP expertise to new accounting guidance and unique transactions; perform technical accounting research and ensure changes meet requirements.