Director, Financial Reporting (Hybrid)

Prudential Financial • Newark, NJ

3d • Hybrid

About The Position

At Prudential, we believe talent is key to achieving our vision. When you join Prudential, you'll unlock a motivating and impactful career - all while growing your skills and advancing your profession at one of the world's leading financial services institutions! An opportunity as Director, Financial Reporting, is available supporting the Controllers team in the Individual Life Insurance (“ILI”) business. This role has accountability for accounting policy on both a GAAP and Statutory accounting basis for the Individual Life Insurance business and Closed Block Division (“CBD”). The team is responsible for accounting policy, management reporting of CBD actual results, as well as quarterly/annual SEC filings, Statutory, and Regulatory Reporting. This critical leadership role works closely with senior business management and is charged with leading the Accounting Policy function for ILI, which includes being an integral part of project teams, with participation in strategy and execution, as well as ensuring proper accounting policies are documented and implemented. The individual will have significant exposure to many senior leaders and other groups. The current employee work arrangement for this position is hybrid and requires your on-site presence on a reoccurring basis as determined by your business. Your manager will provide additional details relative to the specific number of days you are expected to be on-site. What you can expect: Leading the Accounting Policy function within ILI Controllers including the documentation of transactions such as capital management projects, actuarial and investment initiatives, new products, and new accounting guidelines. Leading the implementation and ongoing governance of new product offerings. Provide oversight and review of both the GAAP and Stat financial statements for the CBD. Provide analysis supporting SEC reporting (10K/10Q/MD&A) for the CBD. Analyze quarterly key business earnings drivers, including underwriting results, investment results, expense drivers, and taxes. Manage relationships with corporate centers and other internal parties including Corporate Controllers, Financial Services Organization (FSO), Closed Block Executive Office, Risk Management, Legal, Tax, internal and external auditors, Treasurers, Asset & Liability Management, and Actuarial. Support annual Closed Block requirements such as annual appraisal for the dividend setting process and agreed upon procedures for the State of NJ. Provide related support for Regulatory Reporting as it arises. Human resource management including staff recruiting and development, training and succession planning. Role will have three team members directly supporting accounting policy and CBD reporting.

Requirements

• Strong leadership and communication skills.
• Ability to collaborate with others to drive strategy and execution.
• Strong GAAP and Statutory reporting experience in the insurance industry including a thorough knowledge of insurance industry GAAP and Statutory accounting policies and concepts.
• Strong understanding of insurance-related actuarial concepts and reinsurance.
• Robust understanding of investments, including derivatives and financing arrangements.
• Degree in Accounting or related field.

Nice To Haves

• CPA designation with public accounting experience.

Responsibilities

• Leading the Accounting Policy function within ILI Controllers including the documentation of transactions such as capital management projects, actuarial and investment initiatives, new products, and new accounting guidelines.
• Leading the implementation and ongoing governance of new product offerings.
• Provide oversight and review of both the GAAP and Stat financial statements for the CBD.
• Provide analysis supporting SEC reporting (10K/10Q/MD&A) for the CBD.
• Analyze quarterly key business earnings drivers, including underwriting results, investment results, expense drivers, and taxes.
• Manage relationships with corporate centers and other internal parties including Corporate Controllers, Financial Services Organization (FSO), Closed Block Executive Office, Risk Management, Legal, Tax, internal and external auditors, Treasurers, Asset & Liability Management, and Actuarial.
• Support annual Closed Block requirements such as annual appraisal for the dividend setting process and agreed upon procedures for the State of NJ.
• Provide related support for Regulatory Reporting as it arises.
• Human resource management including staff recruiting and development, training and succession planning.
• Role will have three team members directly supporting accounting policy and CBD reporting.

Benefits

• Market competitive base salaries, with a yearly bonus potential at every level.
• Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
• 401(k) plan with company match (up to 4%).
• Company-funded pension plan.
• Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
• Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
• Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
• Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Number of Employees: 5,001-10,000 employees