Manager of GAAP & Investment Accounting

Job Summary:

The Manager of GAAP & Investment Accounting plays a pivotal role in overseeing the execution of timely, accurate, and compliant internal and external financial reporting. This leadership position is responsible for managing a diverse team of accounting professionals, including team leads, managers, and unit managers, who collectively ensure the integrity and precision of financial data. The role involves setting strategic priorities, offering mentorship and coaching, and managing departmental resources, including workload distribution and budget oversight. A key aspect of this position is the continuous evaluation and enhancement of accounting processes to drive operational efficiency and transformation. The Accounting Leader ensures the accuracy and completeness of financial results in accordance with both Generally Accepted Accounting Principles (GAAP) and statutory requirements. Additionally, this role may lead high-impact strategic initiatives, provide subject matter expertise in specialized accounting domains such as Reinsurance, Investments, and Employee Benefit Plans, and offer consultative support on cross-functional projects that extend beyond the traditional scope of controllership.

Key Responsibilities:

• Directs the preparation, analysis, and submission of GAAP and Statutory financial statements, including balance sheets, income statements, and cash flow statements, ensuring compliance with all applicable accounting and regulatory standards.
• Manages the recording, analysis, and reporting of complex accounting transactions, maintaining the integrity and accuracy of financial records in alignment with internal policies and external regulations.
• Leads a team of accounting professionals responsible for delivering timely and accurate financial reporting for both insurance entities (on a statutory and GAAP basis) and non-insurance affiliates (on a GAAP basis).
• Establishes and monitors internal controls to ensure the effective use of financial systems, including those related to expense allocation, investment accounting, reinsurance, and annual statement preparation.
• Serves as the primary liaison between the Controller's office and non-insurance affiliates, offering accounting guidance and support to ensure consistency and compliance across the organization.
• Ensures adherence to GAAP and Statutory accounting standards by conducting technical research, interpreting new guidance, and implementing necessary changes to accounting policies and procedures.
• Leads the implementation of new accounting standards, ensuring that all financial reporting processes are updated and aligned with evolving regulatory requirements.
• Continuously reviews and refines accounting and reporting processes to identify opportunities for automation, efficiency gains, and transformational improvements.
• Collaborates cross-functionally with departments such as Finance, Risk, and Strategy to ensure that financial data is accessible and actionable for decision-making purposes.
• Responds to inquiries and audits from regulatory bodies, including state insurance departments and internal/external auditors, ensuring transparency and compliance.
• Oversees talent management within the accounting function, including recruitment, succession planning, performance evaluations, compensation decisions, and professional development.
• Promotes a high-performance culture by addressing employee concerns, fostering engagement, and creating an inclusive and supportive work environment.
• Prioritizes and allocates departmental resources effectively, removing obstacles that hinder progress and ensuring alignment with organizational goals.

Qualifications:

• A minimum of 10 years of progressive experience in financial accounting, reporting, or a closely related discipline, preferably within the insurance or financial services industry.
• Bachelor's degree in Accounting, Finance, Business Administration, or a related field is required; an advanced degree or professional certification (e.g., CPA) is highly desirable.
• Demonstrated expertise in GAAP and Statutory accounting principles, with a strong understanding of financial reporting requirements for both insurance and non-insurance entities.

Behavioral Competencies:

• Directs Work: Provides clear direction and delegates effectively to achieve results.
• Collaborates: Works cross-functionally and builds strong relationships across teams.
• Develops Talent: Invests in the growth and development of team members.
• Strategic Mindset: Thinks long-term and aligns accounting strategies with business goals.
• Customer Focus: Understands internal and external stakeholder needs and delivers value.
• Communicates Effectively: Shares information clearly and listens actively.
• Ensures Accountability: Holds self and others responsible for high-quality outcomes.
• Drives Vision and Purpose: Inspires others with a compelling vision for the future.
• Decision Quality: Makes sound decisions based on data, insight, and experience.
• Business Insight: Applies knowledge of the business and marketplace to advance goals.
• Nimble Learning: Adapts quickly and learns from experience.
• Builds Effective Teams: Fosters collaboration and cohesion within the team.
• Manages Complexity: Navigates complex issues with clarity and confidence.

Technical Skills:

• Proficiency in accounting software and enterprise financial systems.
• Strong analytical skills for financial statement interpretation and variance analysis.
• Experience in budget planning, monitoring, and financial forecasting.
• Deep understanding of internal controls and financial compliance frameworks.
• Project management capabilities, including planning, execution, and stakeholder communication.
• Expertise in general ledger accounting, account reconciliation, and financial close processes.
• Knowledge of risk management practices and their application in financial reporting.
• Familiarity with audit procedures, regulatory compliance, and internal audit coordination.
• Understanding of corporate and insurance taxation principles and practices.