Senior Associate, International Asset Management Accounting

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Date: Jul 24, 2019

Location: Jersey City, NJ, US

Company: New York Life Insurance Co

 

A career at New York Life offers many opportunities. To be part of a growing and successful business. To reach your full potential, whatever your specialty. Above all, to make a difference in the world by helping people achieve financial security. It’s a career journey you can be proud of, and you’ll find plenty of support along the way. Our development programs range from skill-building to management training, and we value our diverse and inclusive workplace where all voices can be heard. 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 service, supported by our Foundation. It all adds up to a rewarding career at a company where doing right by our customers is part of who we are, as a mutual company without outside shareholders. 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.

 

As Asset Management’s international business grows, this headcount, working under the direction and supervision of the International Accounting Manager (MG3), will play an integral role in ensuring the overall governance and integrity of the international business’s financial data.  In particular, this role will take the lead over many of the following responsibilities:

 

General

 

  • Assisting in ensuring the fiscal integrity of each international business through the enhancement and management of accounting systems and controls.
  • Monitor controls and ensure compliance with both US and international reporting requirements
  • Regarding NYLIM’s holding entities over its respective international operations, ensure that proper US GAAP adjustments are properly booked and consolidations are appropriately completed.
  • Ensure that all material and critical foreign local GAAP account balances, including intercompany balances and equity balances, are reconciled to the US GAAP account balances on a monthly basis.
  • Assist in ensuring that appropriate record retention rules are applied for both US GAAP and foreign local GAAP reporting.
  • Partner with local accounting teams to transition certain U.S. GAAP accounting and reporting to local team (e.g., Candriam, Lux Holding Cos., Ausbil, etc.).
  • Foster and implement innovative process and technology solutions that support the FSO’s continuous improvement goals and enhance stakeholder service.

 

Foreign Branch Reporting

 

  • Ensure that accounting transactions are appropriately recorded under both US GAAP and foreign local GAAP requirements, including the calculation of foreign currency effects.
  • Partner with the Corporate Tax Team to ensure compliance with tax reporting requirements, including the completion of the international cost-plus calculation templates and the preparation of locally compliant intercompany invoices.
  • Ensure that all revenue sharing invoices are appropriately prepared according to the underlying economic events and the executed revenue sharing agreement between the respective foreign branch and company boutique.
  • Ensure that the compilation of foreign local GAAP financial statements is appropriately prepared in a timely manner to meet the deadlines within the respective foreign location.
  • Perform analytical procedures over the branch’s financial results including year over year, quarter over quarter, and US GAAP versus foreign local GAAP comparisons.
  • Perform basic accounting & treasury functions where needed.  This includes receiving, processing, and paying invoices related to NYLIM’s international operations, including lease rental, payroll, T&E, tax payment, and other vendor related expenses.

 

 

Foreign Subsidiary Reporting

 

  • Overall objective is to improve controls and consolidate support over reporting
  • Assist in ensuring that data integrity for the SAP financial statement feed is accurate and efficient and maintained monthly for each foreign subsidiary.
  • Manage any US GAAP adjustments that need to be booked to the data up-loads received from the foreign subsidiaries on a periodic basis.
  • Assist the foreign subsidiary’s local management in analyzing the differences between US GAAP reporting and foreign local GAAP.
  • Communicate with local international senior management and local international accounting teams regarding any new or unusual transactions that would warrant special/specific accounting on a periodic basis.
  • Perform the monthly reconciliation of the deferred compensation expense and equity ownership rights (currently performed by a member of the Accounting Policy Team).Qualifications:

 

Qualifications:

  • BS in Accounting
  • 5+ years relevant accounting experience
  • CPA preferred
  • Experience with other international forms of GAAP a plus
  • Strong experience in US GAAP accounting principles, especially in areas such as stock compensation, deferred bonus, etc
  • Strong leadership and collaboration skills
  • Strong written and oral communication, and interpersonal skills
  • Strong knowledge of SAP a plus

 

SF:LI-AM1

 

EOE M/F/D/V

 

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