Investment Accounting & Reporting, CORPORATE VICE PRESIDENT

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Date: Mar 26, 2021

Location: Jersey City, NJ, US

Company: New York Life Insurance Co

 

When you join New York Life, you’re joining a company that values development, career growth, collaboration, innovation, and diversity & inclusion. We want employees to feel proud about being part of a company that is committed to doing the right thing. Through various resources and programs, you can grow your career while developing personally and professionally.

 

 

 

Position Overview

 

Corporate Vice President – Derivative Accounting & Reporting performs a variety of duties including accounting and reporting of the Derivatives for NYL and NYLIAC General & Separate Accounts on a GAAP basis, Statutory basis and management basis as well as NYLE on a GAAP basis. This role will be heavily involved in complex derivative transactions and familiarity with derivatives and the accounting for them will be necessary for the role. 

 

Key Responsibilities

 

1.  Work with the various business areas and Chief Investment Office to review new derivative programs and to ensure that current programs are operating as expecting.

2.  Analysis of the various derivative programs in order to communicate results to the business areas and upper management.

3.   Provide monthly accounting and reporting of the derivative portfolio for the general account separate account and NYLE in accordance with SSAP 86, ASC 815 and the Investment Accounting Policy.

4.    Play an integral part in the setting up of new hedge accounting documentation and oversight of the various hedges which qualify for hedge accounting.

5.   Review and analysis of the investment committee schedules on a quarterly basis within tight deadlines. 

6.   Quarterly reporting deliverables including regulatory schedules, derivative program analysis, board reporting, and Controllers book.

7.   Develop new SOX controls and Ensure SOX compliance including documenting, testing, and reviewing controls and procedures.

8.   Manage various projects which will work towards improving the efficiency of our derivatives accounting system. 

 

Qualifications

1. Bachelor’s degree in Accounting

2. Strong knowledge of derivative instruments and the accounting for them (including hedge accounting). 

3. Insurance industry experience a plus (Statutory Accounting).

4. CPA/CFA a plus

5. Proficient in Microsoft Office

 

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by our Foundation. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

Job Requisition ID: 83401

 

 

 


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Nearest Secondary Market: Newark

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