Assistant Vice President, Investment Accounting

Fortitude Re•Jersey City, NJ

20h•Hybrid

About The Position

The Assistant Vice President, Investment Accounting Manager manages the day-to-day activities of the investment accounting team and Fortitude Re’s investment accounting platform, including month-end and quarter-end close and investment accounting and reporting for the company’s complex investment portfolio. The role analyzes investment results and communicates findings to senior management under GAAP, US STAT, Bermuda STAT, and management reporting bases. It also supports Capital teams, the investment accounting internal control environment under Sarbanes-Oxley and the NAIC Model Audit Rule, general ledger activity, reconciliations, audits, and projects associated with new business acquisitions. The position requires strong business and financial acumen and reports to the Vice President of Investment Accounting. The role oversees onboarding and integration of new investment portfolios and development of related reporting, reporting processes and controls, investment yield analysis, investment valuations and reconciliations, and automated reporting and controls. It contributes to financial statements, earnings and statutory reporting, audit work, accounting-guideline impact assessments, and analytical tools for monitoring results and trends. The AVP partners with investment teams and managers on reporting needs for new transactions and accounting-policy changes, and builds and leads a high-performing investment accounting team through mentorship and guidance.

Requirements

Bachelor’s or graduate degree in Accounting or Finance and a CPA or equivalent accounting certification.
At least 7 years of accounting experience.
At least 3 years of investment accounting experience in insurance or reinsurance, with Big Four background.
Investment reporting experience.
Experience with public-company SOX controls.
Experience managing and developing a team of investment accounting professionals.
Strong analytical and project management skills.
Ability to apply U.S. GAAP and STAT investment accounting principles and reporting.
Proven ability to deliver on multiple simultaneous projects with tight deadlines.
Clear and concise written and verbal communication skills.
Proficiency in Microsoft Office, especially Microsoft Excel.
Ability to build and maintain working relationships with internal and external asset managers and with accounting, compliance, actuarial, management, and systems personnel, from junior staff through executive level.

Nice To Haves

Experience with Life, Annuity, and Property & Casualty lines of business.
Experience with the Clearwater investment accounting platform.

Responsibilities

Manage the day-to-day investment accounting team and the investment accounting platform, including month-end and quarter-end close and investment accounting and reporting.
Analyze investment results, including net investment income, realized gains and losses, investment yields, and balances by asset class, and communicate results to senior management under multiple accounting bases.
Support Capital teams with investment results and reporting requirements.
Onboard and integrate new investment portfolios into the investment accounting platform, including developing related reporting.
Develop financial reporting processes and controls under GAAP, US STAT, and Bermuda statutory frameworks.
Manage and assist with quarterly and annual footnotes, MD&A, statutory investment exhibits, debt covenant reporting, and valuation and audit committee reports.
Perform investment yield analysis and establish related performance metrics.
Assist with quarterly earnings reports and annual audited financial statements, including footnotes and rating agency reporting.
Perform quarterly investment valuation and reconciliation controls.
Create interactive, automated investment reporting and automate manual processes and controls.
Facilitate external audits and related testing, and complete audit work papers.
Review and compile investment data, including posting general ledger entries for investment activity under GAAP and STAT accounting.
Assess the impact of emerging FASB and NAIC investment accounting guidelines to support business decisions and compliance oversight.
Develop and maintain analytical tools to monitor results and trends and support controlled reporting and accounting.
Partner with front-office investment teams and investment managers to define reporting for new transactions and accounting-policy changes.
Manage general ledger activity, reconciliations, audit support, and ad hoc projects as the company acquires business blocks.
Support the investment accounting internal control environment under Sarbanes-Oxley and the NAIC Model Audit Rule.
Build and lead a high-performing team, mentoring and guiding team members.
Review forecasts and trends and identify potential issues and opportunities.