Senior Associate, Investment Accounting & Reporting

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Date: Dec 3, 2018

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.

 

Position Overview

 

The Senior Associate – Investment Accounting & Reporting performs a variety of duties including accounting and reporting of the Investments with NY Life’s investment portfolios on a Statutory basis, financial performance reporting, month end reconciliation work, and understanding and implementing investment accounting policy. In this capacity, the role ensures that all relevant reporting is accurate and compliant with internal and external accounting policies and standards/regulations. The role also provides financial analysis that explains and supports the reported results.

 

Key Responsibilities

 

  • Provide accounting and reporting of NY Life’s Investment portfolio (fixed income and equities) for the general and separate account. Ensure all results are properly recorded and reported on a timely basis including Senior Management reporting, Board of Directors reporting, Investment Committee reporting, Statutory Blue Books, and Statutory Notes/Disclosures.
  • Reviews financial reporting for internal (Controller, CFO, Businesses and Board of Directors) and external (Regulatory) clients. Interacts with Internal Audit and PWC to ensure compliance to investment accounting policies and financial reporting.
  • Reviews valuation materials and assists in the monitoring and control of valuation procedures. Review monthly triangular reconciliations and asset roll-forward reports. These reports ensure that the data is accurate between the ledger and core systems.
  • Coordinate and liaise with shared services all the aspects related to general ledger accounting for the applicable portfolio and ensure that all investment reconciliations are reviewed on a timely basis. Review journal entries and general ledger to sub-ledger reconciliations.
  • Ensure SOX compliance including developing, documenting, testing, and reviewing controls and procedures.
  • Implement and maintain Investment Accounting Policy in accordance with Statutory standards/regulations. Involved in decisions and communication regarding new accounting pronouncements and implementation impact on both General Ledger and Investment Accounting Systems. Opportunity to interact with senior management and work on special projects.

 

Qualifications

  • Bachelor’s degree in Accounting
  • CPA (P) or MBA (P)  SAP  knowledge (P)
  • Proficiency in Microsoft Office, with strong working knowledge of Excel
  • Strong verbal and written communication skills

EOE M/F/D/V

 

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Nearest Major Market: New York City
Nearest Secondary Market: Newark

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