At Northwestern Mutual, we are strong, innovative and growing. We invest in our people. We care and make a positive difference.
Manages the financial accounting functions, and related control activities, for assigned products, systems, and processes to ensure conformance with statutory accounting standards and unclaimed property reporting laws while supervising the preparation of accurate, timely and value-added financial statement and analytical reporting products to support financial planning and regulatory reporting functions. Leads the development and continuous improvement of key business capabilities that align with the goals and strategies of the Finance Department.
Primary Duties & Responsibilities:
- Manages financial accounting for assigned insurance products, systems, and processes of NM and NLTC. Develops, assesses, and maintains accounting control standards and documentation for these transactions and balances. Collaborates with process owners across the Company to ensure continued compliance with the internal control requirements of the NAIC Model Audit Rule and state unclaimed property requirements. May include transactions and balances related to cash, premiums, fees, policy benefits, field compensation, dividends, reinsurance, and associated reserve, suspense, and unclaimed property accounts.
- Provides finance leadership and subject matter expertise in all stages of projects, generally cross-departmental strategic efforts with high risk and/or significant complexity. Represents and advocates for finance involvement, identifies and communicates key issues, and shares best practices and insights. Ensures that adequate accounting control structures are designed and implemented, and all vital financial accounting information is completely and accurately captured in the accounting systems. Influences other leaders to employ system functionality and business processes that support efficiency and the required accounting and control needs. Manages change within Finance, IT, and operating departments.
- Supports the financial planning and forecasting function through the delivery of the annuity product line, benefit plan, and field compensation reporting and analysis. Oversees regulatory and compliance reporting of product, benefit plan, and state-level financial results. Manages the delivery of information for financial and regulatory audits and exams. Participates in industry groups (e.g., NOLHGA data survey group) reviewing regulatory information.
- Promotes and utilizes principles such as transparency and access to accounting information, simplification and flexibility of accounting programs and configuration, increased automation of accounting entries and processes, strengthening of internal controls, and prevention of accounting issues and variances. Continuously evaluates the maturity of capabilities and develops a vision for the future state. Collaborates with leaders in Finance and other departments to ensure activities are initiated and implemented as planned.
- Partners with leaders in client advocacy and career distribution to develop business processes that support the administration of insurance products and field compensation, the accurate and timely application and payment of funds to clients (policy owners, beneficiaries, financial representatives), and the related accounting. Explains the complex interaction and flow of data between contract administration systems and impacts to the downstream financial accounting systems. Oversees the correction of existing problems, and provides best practice solutions (processes, use of systems) to prevent future problems from occurring. Advises leaders and managers on the development of procedures and training materials and use of accounting resources.
- Applies expert level knowledge of statutory accounting practices as new accounting guidance is exposed or issued, and to address unique transactions and situations that arise throughout the business. Performs high-level technical accounting research. Reads and interprets published accounting papers and other relevant information, and assesses the impact (relevancy, complexity, scope and cost of system or process changes) to Finance. Ensures changes are implemented in accordance with the requirements.
- Manages the performance and development of employees through recruitment, selection, training, goal setting, ongoing feedback, and coaching. Ensures appropriate workload balance and priorities between accounting control, reporting, and project responsibilities.
- Bachelor’s degree in accounting or business administration with accounting emphasis.
- Certified Public Accountant (CPA) designation or equivalent.
- Minimum 10 years of relevant experience in positions with increasing responsibilities.
- Understanding of statutory or GAAP accounting standards in the insurance or financial services industries.
- Highly analytical (critical thinking, data analysis and research skills).
- Excellent written and verbal communication skills.
- Proven leadership in project management as well as people and organizational management.
- Additional Bachelor’s degree in management information technology/systems preferred
- MBA or other graduate business degree preferred
- Experience with the design and evaluation of internal controls for Model Audit Rule or Sarbanes-Oxley compliance preferred
- Large firm public accounting/auditing experience preferred
Great pay package, 401K, Company sponsored retirement plan, Educational assistance, Performance based incentive pay, Medical, dental and vision insurance, Parental leave, Caregiver time off….and more!
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Please note that this is the standard pay structure. Positions in certain locations (such as California) may provide an increase on the standard pay structure based on the location. Please click here for additional information relating to location-based pay structures.
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We 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.
If you work or would be working in California, Colorado, New York City, Washington or outside of a Corporate location, please click here for information pertaining to compensation and benefits.
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We’re excited about the potential people bring to Northwestern Mutual. You can grow your career here while enjoying first-class perks, benefits, and commitment to diversity and inclusion.
Flexible work schedules
Employee resource groups