Sr. Investment Accountant

Fidelity Des Moines , IA 50301

Posted 2 months ago

SUMMARY STATEMENT

This is a senior level position performing various duties related to financial reporting of investment-related information on both an internal and external basis. Areas of responsibility include GAAP and STAT financial statement preparation and reporting, NAIC-mandated statutory reporting, external/management reporting to various parties and any related analysis on the aforementioned items as they relate to investments. Completes and or assists in the coordination of external auditor requests, internal audit requests, and state insurance department examinations. Completes and or assists with the finance regulatory compliance with the state insurance departments. Assists in development of proper accounting treatment for complex or unusual accounting transactions.

ORGANIZATION

This position reports to the Director, Investment Accounting and has contact with various departments within the company, Asset Managers, and State Street Kansas City.

DUTIES AND RESPONSIBILITIES

  • Completion of GAAP and STAT reporting for investments, including related schedules and analysis, ensuring completeness, accuracy and the timely delivery of completed results. Provides analysis of results for variance in trends and against expected results. STAT schedules referenced here primarily include Schedules D, DA, BA, IMR, and AVR.

  • Completion of reconciliation of investment accounting balances in system of record (PAM) to general ledger and preparation of applicable journal entries for limited partnership investments.

  • Generate and record journal entries for management fee accruals and process related invoices in payment processing system. Review the reconciliation of PAM to the custodian and ensure variances are reasonable and expected.

  • Completes and or assists in the coordination of external auditor, internal audit requests, and state insurance department examinations.

  • Review changes in book value and book yield on structured securities due to quarterly updates in cash flow assumptions and prepayment speeds.

  • Ensure compliance with internal control procedures and maintenance of evidence of controls.

  • Accurate completion and timely issuance of all regulatory required statutory reporting for investments as assigned, such as the Annual and Quarterly Statements, MD&A, STAT Audited financial statements and any associated filings.

  • Assist in the Finance department's regulatory compliance with state insurance departments. Completes and or reviews state filings and ensures that all state filings and fees are completed as required and timely filed.

  • Actively seeks and proposes methods for continuing process improvements in the reporting, analysis and system functions.

  • Assist in development of proper accounting treatment for complex or unusual accounting transactions, including derivatives, structured bonds, limited partnerships and new investment vehicles.

  • Assists on special projects and other duties as assigned.

EXPERIENCE AND EDUCATION:

  • Bachelor's degree in accounting.

  • 3-5 years investment accounting experience required.

  • CPA a plus

  • Insurance industry (Life, annuity, reinsurance) strongly preferred.

  • Experience developing process optimization within the boundaries of corporate infrastructure and regulatory environment

SKILLS AND ABILITIES

  • Highly motivated, self-starter & team player with a high energy level; willingness to aggressively take on responsibility and hold self and others accountable.

  • Strong computer knowledge including working knowledge of financial based accounting packages (PAM and Oracle experience preferred).

  • Able to work & effectively communicate with all levels of management, including executive management.

  • Strong verbal and writing skills.

  • Unconditional integrity and commitment to achieving goals.

  • Ability to establish goals, structures, and processes necessary to implement a mission and strategic vision.

  • Support effective partnerships with key groups and individuals and have good consultation and change management skills.

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Sr. Investment Accountant

Fidelity