At Northwestern Mutual, we are strong, innovative and growing. We invest in our people. We care and make a positive difference.
Performs financial accounting functions, and related control activities, for assigned products and processes to ensure conformance with statutory and GAAP accounting standards. Prepares financial statement and analytical reporting products for product lines. Analyzes numerous contract administration systems to ensure the accuracy of product accounting information and identify potential enhancements to improve efficiency. Represents the Department in enterprise-wide system and/or process development activities related to products.
Primary Duties & Responsibilities:
- Performs financial accounting functions, and related control activities, for assigned products and processes to ensure conformance with both statutory and GAAP accounting standards. Includes accounting transactions and balances related to premiums, fees, policy benefits, field compensation, dividends, reinsurance and associated reserve and suspense accounts. Ensures the accuracy of the accounting generated by numerous contract administration systems as well as any necessary manual accounting. Researches and resolves reconciliation issues, imbalances and open suspense items. Provides guidance and mentor to others in the Division performing accounting and control activities. Analyzes balance sheet and income statement accounts to ensure the accuracy of accounting.
- Performs accurate, timely and improved core financial statement and analytical reporting products for product lines on both a statutory and GAAP basis. Prepares reports and information for inclusion in Board reporting, regulatory filings and other management financial reports. Analyzes financial activity for alignment with expectations and the identification of trends or unusual items. Utilizes operational indicators, business plans/projections and actuarial information in this analysis.
- Provides a strong understanding of the business transactions and related accounting performed by numerous contract administration systems. Analyzes product accounting and related administration systems to identify potential improvements to improve accuracy and efficiency. Leads or assists in efforts to implement system or improvements in execution, including those involving change in the operating departments.
- Represents the Department in enterprise-wide system and/or process development activities related to products. Collaborates with project teams to acquire a detailed understanding of changes. Develops and delivers comprehensive and clear accounting, reporting and testing requirements. Ensures that adequate accounting control structures are designed and implemented, and all necessary accounting information is completely and accurately recorded in the financial accounting systems.
- Plans and implements a sustainability approach and schedule to ensure continued compliance with the NAIC Model Audit Rule for assigned significant processes. Collaborates with process owners and subject matter specialists across the Company to ensure adequate internal controls are in place and operating effectively, and that related control documentation is developed and maintained as business changes occur.
- Researches, analyzes and coordinates the resolution of product accounting and reporting issues. Leads or assists in the implementation of new accounting and reporting requirements and standards impacting products. Represents the Division on projects, audits, task forces, and other special projects related to NM’s products and services.
Knowledge, Skills, & Abilities:
- Bachelor’s degree in accounting or business administration with accounting emphasis required.
- MBA or other graduate business degree preferred.
- Certified Public Accountant (CPA) designation or strong qualifications in the insurance or financial services industries required.
- Minimum of 3 years of relevant professional accounting experience.
- Experience with the application of statutory or GAAP accounting standards in the insurance or financial services industries.
- Proven analytical and decision-making skills.
- Excellent communication skills.
- Extensive knowledge of insurance and investment products and the insurance industry including Northwestern Mutual’s business functions, products, and operations preferred.
This job is not covered by the existing Collective Bargaining Agreement.
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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.
Flexible work schedules
Employee resource groups