AVP, Insurance Accounting Advisory

Summary

The AVP, Accounting Advisory will be part of the Accounting Advisory team at F&G which is responsible for ensuring compliance with GAAP and Statutory reporting for F&G and its insurance carriers.  This includes providing input during the reinsurance and product design process, overseeing the execution of SOX and MAR controls, and support the creation and maintenance of all necessary accounting policies related to the company’s insurance and annuity product offerings and reinsurance.

Organization

This role will report into the VP, Head of Accounting Advisory and manage a team individuals.  This role will also have cross-functional engagement with various areas of the Finance department, mainly – Financial Reporting, Capital Management, Actuarial, FP&A, and Tax

Duties and Responsibilities

• Lead a team through and clearly communicate points of view on the GAAP and Statutory accounting evaluations (and related documentation) for:

• New annuity and insurance product offerings within the Retail and Institutional channels,
• Modifications to existing insurance product offerings,
• Reinsurance transactions,
• Intangible asset / goodwill recognition and impairment
• Provide input of potential alternatives during the reinsurance structuring and product design process that result in a more efficient outcome for the organization as a whole. This will include being able to articulate the impact of IMR on a reinsurance transaction over the life cycle of a respective transaction.
• In support of the Accounting Advisory business strategy, oversee the prioritization and guidance of work for the team to ensure effective execution of projects.
• Oversee accurate and timely execution of SOX and MAR controls this position will be responsible for approving.
• Support the creation and maintenance of all necessary accounting policies related to the Company’s insurance and annuity product offerings and reinsurance transactions.
• Provide appropriate level of training to other areas of Finance that will be impacted by the respective transaction evaluated.
• Ensure the team is staying abreast of changes to the GAAP and Statutory accounting frameworks and that proper communication and education of changes that will impact the Company’s financial statements are communicated with the appropriate level of training materials prepared.
• Assist with the management of external advisors that are engaged to ensure the team completes all of the tasks required of it in an efficient and timely manner.

Experience and Education Requirement

• Bachelor’s degree or higher in accounting required
• Minimum 10 years’ experience
• CPA highly preferred  
• Extensive knowledge of annuity products, life insurance products, and reinsurance for GAAP and STAT accounting required
• SOX and MAR experience preferred
• An in-depth understanding of the Statutory reporting considerations for the entire life cycle of a reinsurance transaction, including, among others, risk transfer, reinsurance credit and IMR

Skills and Abilities

• Strong analytical, organizational, and communication (both written and verbal) skills
• Flexible - ability to work independently
• Exercise good judgment, present alternatives, and make recommendations
• Comfort working under short timelines and managing multiple tasks
• Track record managing people in a manner that allows them to grow and succeed
• Comfort raising concerns about timelines when they may not be reasonable

Other Requirements

• Perform other functions, duties and projects as assigned
• Regular and punctual attendance
• Minimal travel required

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