Specialist, Financial Reporting And Controls

Nationwide Columbus , OH 43216

Posted 2 weeks ago

If you're passionate about becoming a Nationwide associate and believe you have the potential to be something great, let's talk.

Number 57 on the Fortune Magazine 100 Best Places to Work.

The compensation for this role is grade F3.

Job Description Summary

This position is within Financial Reporting and Accounting Policy (FRAP) team. This position reports through the Investments, Corp. and Emerging Business (ICE) Projects team and will flex between the Projects team and Financial Reporting Controls (FRC) team.

Specific responsibilities include:

  • Coordinates Reporting team problem intake work stream and assists in solutioning process for continuous improvement ideas

  • Responsible for actively managing complex projects affecting the Reporting team

  • Engage in year end financial statement reporting preparation and review process

    • Accountable for advising and communicating with business partners during process changes on mitigating risk and the design of controls
  • Coordinate activities with internal audit, information risk management and external auditors and regulators

  • Support the day-to-day maintenance and sustainability of the FRC program. Duties include : annual financial reporting risk assessments, assisting process and control owners with identifying internal control gaps, control testing consultation, issue remediation and reporting.

Performs and reviews the most complex functions associated with GAAP and Statutory financial reporting, premium taxes, payroll taxes, and/or statistical and supplemental statutory reporting requirements, including researching and drafting new disclosures or reports.

Assists in analyzing quarterly financial results for the Enterprise, segments, and/or statutory legal entities. Responsibilities may also include preparation and review of reports that are filed with the SEC, industry bureaus, government agencies, state departments of insurance, taxing authorities, and/or other regulatory agencies. May assist with review and supervision of lower-level staff. Works closely with others on monitoring and evaluating controls, comparison to peers, income/expense analysis, and special projects.

Job Description

Reporting Relationships: Reports to Manager, Director or AVP. No direct reports.

Key Responsibilities:

1.Prepares and reviews higher complexity federal, state and local statutory financial statements and reports, supplemental and statistical forms and data calls, and/or employment, premium, sales/use and personal property tax returns as well as related journal entries as assigned in accordance with state and federal laws, regulations and/or instructions. These reports, forms, returns, and data calls are provided to various state Departments of Insurance, Departments of Revenue, the Internal Revenue Service, the Federal Reserve, the Securities and Exchange Commission, the US Department of Labor, the Social Security Administration, Statistical Bureaus, Fortune Magazine, various ratings agencies (S&P, Moody's, AM Best, etc.), debt-holders, the Nationwide Audit Committee, various state agencies and/or other regulatory bodies.
2.Under general direction, leads the development and design of new and enhanced systems and processes within the assigned area(s).
3.Reviews and evaluates quarterly financial results and analyzes trends to ensure accurate reporting, integrity of data and to avoid fines and penalties.
4.Stays informed and assists in analyzing the potential impact of pending legislation and proposed new or revised GAAP and Statutory accounting policies, including the evaluation of the cost to the enterprise. Coordinates the research, analysis and implementation of new and/or revised accounting policies, procedures and disclosures with Accounting Policy.
5.Assists with or leads financial pre-close and close discussions. Responsible for maintaining close task management and tracking through workflow tool to help achieve close and reporting deadlines.
6.Responsible for the timely initiation of high dollar amounts of related tax and fee payments as required by the state and federal laws, regulations and instructions.
7 Under general supervision, provides audit evidence and support to external audit firms and state departments of insurance. Also responds to requests and inquiries from external auditors, IRS, state departments and examiners, statistical bureaus, and/or other regulatory agencies on analytical inquiries, compliance and/or data quality/integrity matters.

Prepares information to be used in the administration and settlement of federal, state and local financial and tax audits.
8.Assists in improving the monthly/quarterly close and reporting process, including reviewing and assessing deliverables prepared by supervisors and peers.
9.Under general direction, may review work performed by lower-level staff and offshore contractors.
10. Researches and advises senior management on key competitor and industry financial reporting best practices.
11. Prepares, reviews and maintains documentation and testing of controls over financial reporting, as assigned.
12. Makes recommendations that would optimize processes to produce high-quality deliverables in an efficient and effective manner, while meeting all established and regulatory deadlines.
13. Supports the development of various analytic tools to bolster Controllership's analytic competencies.
14. Coordinates legal and managed reporting changes with business partners and IT.
15. Coordinates and leads multi-team efforts on selected projects.
16. Prepares special reports and presentations to management and internal customers as directed.
17. Performs other duties as assigned.

Typical Skills and Experiences:

Education: Undergraduate degree in business administration, accounting, finance, insurance or other relevant academic disciplines preferred.

License/Certification/Designation: Progress towards CPA or relevant industry designation (e.g., CPCU, IIA, FLMI) preferred.

Experience: 3+ years in public accounting, equivalent industry experience, or relevant insurance experience.

GAAP and/or statutory accounting bases.

Insurance regulatory requirements. Complex financial statement preparation including consolidation of companies/subsidiaries. Financial/statistical analysis.

Principles of taxation and the related impact on financial statement preparation. Accounting and/or business computer systems.

Skills/Competencies: Must have the ability to analyze financial or statistical results and trends and interpret complex financial reporting requirements.

Must have oral and written communication skills, with an ability to communicate professionally with regulators and business partners. Ability to interpret changes in financial or statistical reporting and legal/regulatory requirements relative to the impact on

financial statement preparation, premium and payroll taxes, and supplemental or statistical filings and to the formulation of company or business area policies and procedures. Must possess decision-making skills for problem identification and solution recommendation. Must have the ability to utilize and maintain efficient financial information networks, systems and software.

Other criteria, including leadership skills, competencies and experiences may take precedence.

Staffing exceptions to the above must be approved by the hiring manager's leader and HR Business Partner.

Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.

Job Conditions:

Overtime Eligibility: Not Eligible (Exempt)

Working Conditions: Normal office environment; extended and/or non standard work hours as needed.

ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.

Evaluation Activity: AH/KP: update 9-2017


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Specialist, Financial Reporting And Controls