The Director, Investment Center of Excellence (COE) will oversee the accounting for a large investment portfolio, ensuring compliance with U.S. Statutory and GAAP standards. The Director will lead key financial processes, including monthly closes and reconciliations, while collaborating with internal teams and external partners. The position also plays a critical role in maintaining internal controls, supporting audits, and providing strategic insights to support new investment strategies and regulatory compliance.
This position reports to the AVP, Investment COE, and will directly manage investment accounting professionals. This position will work closely with the Close & Analysis team and with each of the other teams within the Investment COE, Accounting Advisory, Tax, Middle Office, Investment Strategy and our third-party investment accounting administrator and asset managers.
Duties and Responsibilities
Responsible for the accounting of over $50 billion in invested assets, maintaining records on both U.S. Statutory and GAAP bases.
Collaborate with internal teams to provide strategic recommendations for investment accounting activities, offering solutions for new investment strategies, accounting requirements, and operational changes, with a focus on internal controls and regulatory compliance.
Lead the monthly accounting close process in collaboration with third-party administrators, investment accounting staff, and finance leadership to ensure timely and accurate financial records.
Oversee timely and accurate reconciliations of investment accounts, as well as analysis and documentation of investment-related general ledger, income statement, and balance sheet accounts. Collaborate with third-party administrators and asset managers to investigate and resolve discrepancies, escalating issues to management when necessary.
Oversee the monthly and quarterly review of Net Investment Income and explain fluctuations to the Investment FP&A team.
Oversee the quarterly process for reviewing and validating comprehensive cash flows for structured securities in accounting system.
Oversee the cash application process, custodian reconciliations, and work closely with business partners to resolve suspense balances.
Serve as the SOX Control Owner for investment accounting processes, ensuring all policies, procedures, and controls are well-documented. Support internal controls and audit teams during test work.
Provide necessary documentation and deliverables for internal audits, external audits, and regulatory examinations related to investment accounting.
Experience and Education Requirements
Bachelor's degree in accounting, finance, or related field
A minimum of 8 years of investment accounting, financial reporting, auditing or related experience with 3+ years in a leadership role of a team of accounting professionals.
Experience with GAAP and statutory accounting for insurance company general account portfolios preferred.
CPA, CFA and/or MBA preferred.
Skills and Abilities
Strong Statutory and GAAP accounting and reporting knowledge for limited partnerships, fixed income investments, and structured securities.
Strong communication, organization, and analytical skills.
Strong computer knowledge including working knowledge of accounting packages (Oracle experience preferred) and investment accounting software (Clearwater preferred).
An ability to handle multiple complex tasks and prioritize in a fast-paced environment.
Ability to balance the day-to-day accounting requirements with the value-added role supporting management in planning and executing the business plan.
Ability to collaborate with other teams, challenging current processes and driving efficiencies.
Other Requirements
Perform other functions, duties and projects as assigned
Regular and punctual attendance
Some travel required (less than 10%)
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Additional Information
Work Environments
F&G believes in an employee-centric flexible environment, which is why we offer the ability for in-office, hybrid and remote work arrangements. During the hiring process, you'll work with your leader to decide what works best for your role.
F&G complies with federal and state disability laws and makes reasonable accommodations for applicants and candidates with disabilities, unless such accommodation would cause an undue hardship for F&G. If reasonable accommodation is needed to participate in the job application or interview process, please contact talentacquisition@fglife.com.
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About F&G
Since 1959, Fidelity & Guaranty Life Insurance Company (F&G) has offered annuity and life insurance products to those who are seeking security in retirement and protection during life's unexpected events.
As a national Top Workplace1, an Iowa Top Workplace2 and a proud equal opportunity employer, F&G team members are empowered, collaborative, dynamic and authentic. We believe that by embracing these values, we will continue to build and strengthen the company while continuing to be a great place to work.
1Top Workplaces USA 2022 - 2023
2Des Moines Register Top Workplaces 2018 - 2022
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