Assistant Director, Wealth Accounting

Northwestern Mutual•Milwaukee, WI

26d•$108,160 - $186,600•Hybrid

About The Position

Oversees 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 and provides quality assurance review of financial statements and analytical reporting. Leads 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, and collaborates with process owners to support compliance with internal control requirements. It provides subject matter expertise for complex or high-risk cross-departmental projects, represents Finance interests, and ensures financial accounting information is accurately captured in accounting systems. The position supervises month-end close activities, reviews trial balances, provides financial analysis, supports planning and forecasting, and manages information delivery for audits and regulatory examinations. The Assistant Director manages relationships with external business partners, develops and improves accounting capabilities, and partners with Wealth leaders on investment product administration processes and related accounting. The role explains data flows between administration and financial accounting systems, directs corrections to existing issues, and develops practices to prevent recurrence. It applies expert GAAP knowledge, conducts technical accounting research, and ensures required changes are implemented.

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.
Highly analytical skills, including critical thinking, data analysis, and research.
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 and develop and adhere to controls supporting financial integrity and regulatory compliance.
The position is classified as an Associated Person under NMIS guidelines and requires fingerprinting and completion of the required form; it is identified as Non-Registered Fingerprinted - FINRA.

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, collaborating with process owners to support compliance with internal control requirements.
Provide subject matter expertise in cross-departmental strategic projects involving assigned products, systems, and processes; represent Finance interests, identify key issues, share best practices, and manage change across Finance, IT, and operating departments.
Ensure financial accounting information is completely and accurately captured in financial accounting systems, and influence leaders to use system functionality and processes that support efficiency and accounting controls.
Supervise accurate and timely month-end close processes, perform quality assurance reviews of the trial balance, and provide financial analysis for assigned products and processes.
Support financial planning and forecasting through delivery of financial records and analysis.
Manage delivery of information for financial and regulatory audits and examinations.
Manage relationships with external business partners related to the financial close.
Lead development and continuous improvement of business capabilities, including financial analysis, transactional accounting, and reconciliation supporting operational and regulatory reporting.
Evaluate capability maturity and develop a vision for future-state capabilities; collaborate with Finance and other department leaders to ensure planned activities are implemented.
Partner with Wealth leaders to develop business processes supporting investment product administration and related accounting.
Explain data interactions between administration systems and downstream financial accounting systems, direct correction of existing problems, and provide best-practice solutions to prevent future issues.
Apply expert GAAP knowledge to new accounting guidance and unique transactions; perform technical accounting research and ensure changes are implemented as required.