F&G is hiring for a VP, Investment Center of Excellence. This role will set the strategy and provide overall leadership for an Investment Center of Excellence to ensure proper accounting, reporting and analysis for a complex portfolio of invested assets. This role will help complete monthly, quarterly and annual financial close and reporting cycles on a timely basis and drive process improvement and efficiency in the close and reporting processes. In addition, the role will provide detailed analysis of investment income relative to prior periods and clearly communicate those to senior management including the CFO and CEO.
Organization
This position reports directly to the SVP, Chief Accounting Officer and will interact with all levels of Senior Management. This position has management responsibility for the organization’s Investment Center of Excellence and will partner with its various stakeholders (e.g., Investment Strategy, Tax, Accounting Advisory, Middle Office, Legal) to evaluate and operationalize the onboarding of new investment strategies.
Duties and Responsibilities
- Set Investment Center of Excellence strategy, goals and metrics, and track performance against them. Develop a prioritization and resource model that allows for simultaneous execution of financial close and analysis processes, onboarding of new asset classes and execution of projects. Set clear expectations with stakeholders and the team informed by resource demand and availability and communicate those expectations. Actively manage priorities and resources to meet established expectations.
- Establish investment accounting processes and procedures and review for improvement opportunities. Clearly define roles and responsibilities of individual team members to enable effective delegation, decision making and team development. Responsible for providing timely feedback, coaching and development resources to the team to achieve this objective.
- Direct the team responsible for accounting and financial statement disclosure of all invested assets. Accounting records are maintained on a U.S. Statutory basis, U.S. GAAP basis and U.S. Tax basis and include both domestic and off-shore entities.
- Responsible for driving timely and efficient completion of the external audit process with respect to investments.
- Responsible for ensuring the appropriate design and timely execution of internal controls over accounting and reporting for investments in accordance with Sarbanes-Oxley and Model Audit Rule standards. The Vice President, Investment Center of Excellence in partnership with internal controls advisory team will set a direction that focuses on improving the timeliness and efficiency of control design and execution.
- Responsible for the timely and accurate completion of monthly, quarterly and annual financial closes processes including, but not limited to, preparation and delivery of reporting packages and data to relevant stakeholders and completion of account reconciliations and other validation procedures.
- Establish and maintain strategic relationships with senior leadership of key stakeholders such as Clearwater, Blackstone and various data vendors to enable candid feedback and issue resolution.
- Partner with stakeholders to drive process automation and to foster an environment of continuous process improvement. This role will also partner with the Tax team to (1) ensure accuracy of the tax basis of investment balances (2) develop a shared understanding of roles and responsibilities with respect to investment tax balances and (3) design processes for the efficient capture and transfer of information to support the tax function.
- Lead the team to develop and maintain efficient and insightful analysis processes that explain drivers of net investment income monthly.
- Prepare team for CFO Briefings discussing investment performance, accounting issues, accounting risks and opportunities with respect to the investment portfolio. Prepare team to present results to senior management including the CEO, CFO and CIOs. Candidate should recognize possible issues and recommend solutions.
- Direct and coordinate the preparation of materials to inform investor relations, rating agencies, regulators and other FG governance committees.
- Proactively collaborate with Chief Investment Officers, asset managers and other stakeholders to manage the pipeline of new assets and new asset classes including the development of data, process and control requirements, establishing clear target dates and appropriately managing the activities and priorities of the team to meet expectations.
Experience and Education Requirements
- Bachelor’s degree with a concentration in finance or accounting and CPA is preferred.
- 15+ years of investment accounting, public accounting or similar experience. Previous experience managing an investment accounting function within the insurance industry preferred.
- Strong knowledge of US GAAP and US Statutory investment accounting including, for example, fair value, interest income recognition, and impairments
- Broad knowledge of various invested asset classes and the performance metrics thereof
- Broad and deep knowledge of complex investments, including but not limited to: derivatives, private placements, commercial mortgage loans, private equity securities.
- Experience with life insurance, annuity products and/or reinsurance is a strong plus.
- An in-depth knowledge of financial reporting and related close cycle in the general ledger.
- Experience with SOX 404 requirements
- Expertise in accounting systems and controls typically found in the insurance industry. Familiarity with Clearwater Analytics solutions preferred; ability to leverage technology to improve processes
Skills and Abilities
- Able to clearly communicate and synthesize complex investment and accounting topics
- Ability to think strategically and creatively
- Strong leadership and relationship management skills with demonstrated ability to identify resource needs and coordinate activities of multiple teams
- Demonstrated ability setting function priorities and creative problem solving to achieve objectives
- Strong communication/presentation, organization, technical and analytical skills.
- Ability to lead and navigate change
- Ability to collaborate with key leaders, business partners and auditors.
- A champion of process improvement.
- 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.
- Self-directed individual who works well with teams.
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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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Last updated on Aug 13, 2024