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Assistant Director - Investment Accounting

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Summary

Responsible for accurate Statutory and U.S. GAAP accounting of derivative investments for Northwestern Mutual and related entities. Manage the ongoing data integrity processes to ensure the accuracy of the Calypso system and its associated financial processing routines in recording the assets, income, and gains and losses of derivative investments held by Northwestern Mutual and related entities. Maintain and coordinate the Model Audit Rule documentation related to derivatives. In support of the Senior Director, research and recommend appropriate actions on new accounting guidance impacts to Statutory and U.S. GAAP Reporting. This position will also act as the lead representative from Investment Accounting on all Calypso upgrade projects.

Primary Duties and Responsibilities

  • Supervise the monthly closing of the derivatives on the Portfolio Asset management (PAM) securities system and Calypso, and its associated financial processing routines providing the last layer of detailed quality assurance over the recording of assets, income, and capital gains of Northwestern Mutual and related entities to ensure that proper Statutory and U.S. GAAP principles are applied. Includes quality assurance over the pricing/valuation of securities for public equities, public fixed income, including high yield and hybrids securities, convertibles, and highly complex structured securities as well as private equities (internal valuations) and private fixed income and private structured securities (matrix priced) to ensure the amounts are recorded timely and accurately.

  • Oversee the process to ensure the investment Security Master Files (SMF) within the PAM system are accurate regarding new security acquisitions, subsequent transactions, new reporting guidance and updated prepayment assumptions for structured securities. Must understand the various securities well enough to be able to engage all of the groups mentioned above to ensure accurate set up while providing this last layer of detailed quality assurance.

  • Work with NM Investment Management Company to obtain cash flow data needed to complete prepayment assumption analysis for bifurcation of gain or loss on structured security sales between IMR (interested related) and AVR (credit related) and the quarterly impairment process to ensure compliance with complex accounting guidance.

  • Manage the process of creating and maintaining analytical tools that help facilitate the accurate reporting of derivative investments on a Statutory and U.S. GAAP basis.

  • Assist the Investment Accounting Securities (IA-Securities) Reporting Group in meeting reporting requirements for investments held on PAM.

  • Oversee the preparation and maintenance of all watch list analytical reports needed to conduct quarterly Statutory and U.S. GAAP impairment discussions and accounting. Review the quarterly and annual reporting related to impairments including internal management reporting and regulatory required reporting and footnote disclosures in the both the Audited Financial Statements and Annual Statement Schedules.

  • Coordinate across several departments the Model Audit Rule documentation related to derivatives.

  • Lead representative from Investment Accounting on Calypso upgrade projects which includes evaluating new system functionality and its impact on Investment Accounting, coordination of project efforts with various groups, and identifying problems and improvement opportunities related to the reporting and financial processing components of Calypso.

  • Work with Senior Director to provide technical research and support to NM Controller constituencies and all investment management constituencies in NM Investment Management Company. Also assist with high-level technical accounting research in support of Director, Controller and CFO.

  • Coordinate the IA-Securities Group portion of internal audits, which include audits related to Model Audit Rule.

  • Meet high standards for career development and performance management for all assigned staff.

Qualifications

  • Bachelor's degree in accounting required with 7-10 years work experience.

  • Certified Public Accountant required.

  • Expert working knowledge of Statutory and U.S. GAAP accounting principles.

  • Strong financial reporting background, accounting systems experience, understanding of investments and demonstrated decision making and analytical skills.

  • Strong written and oral communication skills.

  • Ability to effectively maintain relationships with the Investment Accounting Securities Reporting Group, other departments, external auditors, etc.

  • A high degree of personal initiative and self-motivation is required.

  • Experience with the PAM securities system and/or the Calypso derivative system.

Skills-Proficiency Level:


Accounting - Advanced
Annual Filing - Advanced
Auditing - Advanced
Consulting - Advanced
Financial Compliance - Expert
Financial Disclosures - Advanced
Financial Reporting - Expert
Financial Reporting Systems - Expert
General Accepted Account Principles (GAAP) - Advanced
Investment Management Systems - Advanced
Investment Strategy - Intermediate
Portfolio Management - Expert
Process Improvements - Expert
Program Management - Expert
Statutory Accounting - Advanced
System Assessments - Advanced

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W e are an equal opportunity/affirmative action employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender identity or expression, sexual orientation, national origin, disability, age or status as a protected veteran, or any other characteristic protected by law.

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