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Risk Product Accountant

At Northwestern Mutual, we are strong, innovative and growing. We invest in our people. We care and make a positive difference.

What's the role?

Reporting to the Assistant Director – Risk Product Accounting, the Risk Product Accountant performs financial accounting functions and related control activities for assigned products, systems, and processes to ensure accuracy and conformance with statutory accounting standards. The Risk Product Accountant prepares financial and analytical information to support regulatory compliance and operational functions. This role participates in cross-department product and system implementation projects and activities.

Primary Responsibilities:

  • Develops and maintains an understanding of the processing, business transactions and related accounting performed by contract administration, cash/client fund systems (e.g., cash disbursement system), and the financial reconciliation system.
  • Prepares and reviews account reconciliations, which may include accounting transactions and balances related to premiums/fees, policy benefits, dividends, reinsurance, field compensation, cash, unclaimed property, and associated suspense accounts for alignment with expectations and identification of trends or unusual items.
  • Provides guidance to other division staff and the operating areas performing accounting, control, and servicing activities.
  • Supports efforts to ensure the Company’s compliance with statutory unclaimed property laws. Collaborates with operating departments to resolve issues with outstanding policyowner funds, and prevent the need to remit property to the states.
  • Conducts ongoing sustainability efforts related to accounting control documentation to ensure compliance with the NAIC Model Audit Rule.
  • Represents the Division on audits, task forces, and other special projects related risk products, unclaimed property, and cash activity.
  • Assists in efforts to implement system or process changes and improvements, collaborating with project teams to deliver comprehensive and clear accounting, control, reporting and testing requirements. Ensures that adequate control structures and processes are designed and implemented, and all necessary accounting information is completely and accurately captured in the financial accounting systems.

Bring your best! What the role needs:

  • Bachelor’s degree in accounting.
  • Minimum of 18 months of relevant professional accounting experience. 
  • Proven analytical and problem-solving skills.
  • Strong written and verbal communication skills.
  • Demonstrated ability to work independently.

Desirable requirements:

  • Experience with the application of statutory or GAAP accounting standards in the insurance or financial services industries preferred.
  • Proficiency in end-user reporting tools preferred.
  • Understanding of insurance and investment products and the financial services industry including Northwestern Mutual’s business functions, products, and operations preferred.
  • Certified Public Accountant (CPA) designation or CPA candidate preferred.

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This job is not covered by the existing Collective Bargaining Agreement.

Required Certifications:

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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.


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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.