Assistant Vice President, Investment Accounting

Fortitude Re•Jersey City, NJ

1d•$175,000 - $195,000

About The Position

The Assistant Vice President, Investment Accounting Manager manages the day-to-day operations 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 a complex portfolio. The role analyzes investment results and communicates findings to senior management under GAAP, U.S. STAT, Bermuda STAT, and management reporting bases. It also supports Capital teams, maintains the investment accounting internal control environment under Sarbanes-Oxley and the NAIC Model Audit Rule, and oversees general ledger activity, reconciliations, audit support, and projects related to business acquisitions. The position reports to the Vice President of Investment Accounting. The role integrates new investment portfolios into the accounting platform and develops related reporting, processes, and controls. It manages investment reporting and analysis, valuation and reconciliation controls, financial statement and regulatory reporting, audits, and assessment of emerging accounting guidance. The AVP partners with investment teams and managers on reporting for new transactions and policy changes, automates processes and controls, and leads and develops a high-performing investment accounting team.

Requirements

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

Nice To Haves

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

Responsibilities

Manage day-to-day operations of the investment accounting team and accounting platform for month-end and quarter-end closes.
Analyze and communicate investment results under GAAP, U.S. STAT, Bermuda STAT, and management reporting bases.
Analyze net investment income, realized gains and losses, investment yields, and investment balances by asset class, and support Capital teams with investment results and reporting.
Integrate new investment portfolios into the accounting platform, including building associated reporting.
Develop financial reporting processes and controls for GAAP, U.S. STAT, and Bermuda statutory requirements.
Manage and assist with quarterly and annual footnotes, MD&A, statutory investment exhibits, debt covenant reporting, valuation committee reports, 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 automated, interactive investment reporting and automate manual processes and controls.
Facilitate external audits and related testing, and complete audit work papers.
Review and compile investment data and post general ledger entries for investment activity under GAAP and STAT accounting.
Assess the impact of emerging FASB and NAIC investment accounting guidance to support business decisions and compliance oversight.
Develop and maintain analytic 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 and review general ledger activity, reconciliations, audit support, and ad hoc projects as the company acquires business blocks.
Build and lead a high-performing team, providing mentorship and guidance.