At Northwestern Mutual, we are strong, innovative and growing. We invest in our people. We care and make a positive difference. Summary
Independently performs financial accounting functions, and related control activities, for assigned products and processes to ensure conformance with statutory and GAAP accounting standards, as well as compliance with FINRA and SEC regulations. Leads the preparation and analysis of complex product line financial results. Analyzes numerous and complex 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 and Responsibilities
- Independently performs financial accounting functions for assigned products and processes to ensure conformance with both statutory and GAAP accounting standards. Includes accounting transactions and balances related to revenue, fees, expenses, field compensation, and associated suspense accounts.
- Ensures the accuracy of the accounting generated by numerous contract administration systems as well as any necessary manual accounting.
- Researches and resolves complex reconciliation issues, imbalances and open suspense items.
- Provides guidance and coaching to others in the Division performing accounting and control activities.
- Analyzes balance sheet and income statement accounts to ensure the accuracy of accounting.
- Maintains an effective internal control environment and ensures continued compliance with FINRA and SEC regulations.
- Performs accurate, timely and value-added complex 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 deep understanding of the business transactions and related accounting performed by numerous and complex contract administration systems.
- Analyzes product accounting and related administration systems to identify potential enhancements to improve accuracy and efficiency.
- Leads efforts to implement system or process improvements, 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 thorough understanding of changes. Independently 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.
- Leads ongoing sustainability efforts to ensure continued compliance with the NAIC Model Audit Rule for assigned significant processes.
- Independently plans a sustainability approach and schedule.
- Collaborates with process owners and subject matter experts 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 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.
This position has been classified as an Associated Person under NMIS guidelines and requires fingerprinting and completion of required form.
- Bachelor's degree in accounting, or related field or equivalent education plus experience required.
- Minimum of 5 years of relevant professional accounting experience.
- Public accounting experience preferred.
- Certified Public Accountant (CPA) designation preferred.
- Experience with the application of statutory or GAAP accounting standards in the insurance or financial services industries.
- Proven analytical and decision making skills.
- Proven ability to act independently.
- Excellent communication skills.
- Extensive knowledge of insurance and investment products and the financial services industry including Northwestern Mutual's business functions, products, and operations
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N ort hwester n Mutual pays on a geographic-specific salary structure and placement in the salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity as well as the cost of labor in the market; and other conditions of employment. At Northwestern Mutual, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. Please note that the salary range listed in the posting 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. Grow your career with a best-in-class company that puts our client's interests at the center of all we do. Get started now!
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.