Manager, Derivatives Investment Accounting

F&G is hiring for a Manager, Derivatives Investment Accounting position.

Job Summary

The responsibilities of the Manager, Derivatives Investment Accounting include oversight of the transaction processing, accounting and analysis of complex derivative investments held by the insurance company. The candidate must possess strong Statutory and GAAP accounting and reporting knowledge for derivatives investments (futures, currency swaps, credit default swaps, options, currency forwards, interest rate swaps, etc.) to support timely and accurate accounting. Experience with accounting for complex derivative instruments and hedge accounting is required. The ideal candidate will enjoy collaborating with other teams, challenging current processes and driving efficiencies.  

This position reports to the Director, Investment Accounting and will interact with all levels of Senior Management.  This position will lead a small team of derivative investment accounting professionals and work closely with an external third-party investment accounting administrator, external investment managers and internal stakeholders.

Duties and Responsibilities

• Oversee accounting and analysis for all of the derivative instruments held by the Company.
• Collaborate with the F&G Accounting Advisory team to develop operational processes to accurately account for new derivative instruments in order be compliant with STAT and US GAAP accounting guidance. This includes assisting the Company with operationalizing a hedge accounting program.
• Lead initiative to research and gather operational accounting and reporting requirements for new derivative instruments, communicate requirements to impacted individuals/teams and ensure derivatives are on-boarded correctly into external third-party accounting system based on these requirements.
• Review data, reports and reconciliations of derivative related general ledger accounts. This includes working closely with the third-party accounting administrator to research and resolve variances and reconciling items.
• Develop and maintain analysis of derivative investment results and partner with the FP&A team and investment managers to explain derivative results each monthly reporting period
• SOX Control Owner for derivative accounting processes. Responsible for ensuring the processes are properly documented as to policies, procedures and controls. Support auditors and internal controls team during their test work
• Continuously challenge and improve processes to drive efficiencies in accounting processes and the production of deliverables.
• Leads staff development/education with regard to understanding of risk management strategies, derivative positions and related impact on day-to-day responsibilities.

Experience and Education Requirements

• Bachelor’s degree in accounting or finance
• 7+ years of accounting experience with 3 years of comprehensive derivative investment accounting including hedge accounting, financial reporting or auditing experience
• 1-2 years of experience in a leadership role preferred
• A solid understanding of the accounting requirements for derivative investment products in accordance with statutory and GAAP accounting principles.
• CPA, CFA or MBA preferred
• Industry experience in life insurance or financial services industries preferred

Skills and Abilities

• Strong communication, organization and analytical skills
• 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
• Expertise to improve processes and utilize technology to make procedures and processes more efficient
• Self-directed individual who works well with teams

Other Requirements

• Perform other functions, duties and projects as assigned
• Regular and punctual attendance
• Some travel may be required (less than 10%)

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