Job description
Job Summary
The Director, Life Reinsurance Accounting & Administration (RA&A) will perform various duties to ensure accurate and timely operational accounting, settlement statements, and administration of complex reinsurance transactions. This position will play a key role in the initial execution and ongoing activities of corporate strategic reinsurance treaties. Overall areas of responsibility include:
The Director, Life RA&A will report to the AVP, Reinsurance and operate in a matrix environment to accomplish their objectives. This position will collaborate with various departments across the Company including Financial Reporting, Actuarial, Investments, Investment Accounting, Treasury, etc. as well as the Retail operational business segment. This position will manage a team of experienced subject matter experts and/or individual contributors.
Duties and Responsibilities
Oversee and direct all Life reinsurance business-as-usual accounting and administration activities
Partner with reinsurance leadership (Actuarial, Financial Reporting, Investments, etc.) in order to evaluate / design and successfully operationalize new reinsurance transactions
Collaborate with internal business partners to recommend solutions and / or make business decisions regarding complex reinsurance transactions
Oversee the preparation of significant reinsurance settlements and participates in the associated disbursement processes (Treasury, Investments, etc.)
Serve as the initial point of contact for both line-of-business reporting segments and other operational departments (i.e. Financial Reporting, Investment Accounting, etc.)
Participates in strategic planning with department leaders and is primarily responsible for execution of the strategy through others
Develop, implement and monitor key performance indicators to continuously assess the department’s operational efficiency and effectiveness
Drive collaboration with line-of-business leadership by providing reinsurance operational accounting and administration information impacting their results
Lead continuous process enhancement reviews in order to identify, implementation and maintenance reliable, repeatable, sustainable, scalable and streamlined operations
Partner with the Financial Reporting team to ensure integration of the reinsurance settlement processes with financial reporting activities
Direct the review of certain reinsurance data contained within the financial statements and disclosures
Oversee or participate in corporate modernization and financial operation transformation projects
Ownership of design and execution of RA&A internal controls
Partner with customers to analyze operational accounting results of key treaties
Prepare and present recurring and ad hoc reports for Senior Management
Provides regular coaching, employee development and has a strong focus on team engagement.
Supports leadership in the development and maintenance of a succession plans
Assist in the establishment and monitoring of the overall department budget
Experience and Education Requirements
- Bachelor’s degree in Accounting
- Minimum 8 years of experience in financial reporting, accounting or reinsurance administration
- Minimum of 3 years of leadership or management experience
- Experience with accounting for insurance and / or reinsurance administration strongly preferred
- CPA license preferred
Knowledge, Skills & Abilities
- Exceptional reinsurance operational accounting skills
- Deep knowledge of reinsurance administration for insurance companies
- Highly motivated and demonstrated ability to take initiative
- Ability to work both independently and to collaborate with others
- Ability to influence in absence of formal reporting relationships
- Experience analyzing and understanding key data
- Ability to effectively prioritize multiple tasks/projects to meet critical deadlines
- Ability to effectively manage large teams with subject matters experts and individual contributors
- Strong problem-solving skills
Other Requirements
- Perform other functions, duties and projects as assigned
- Regular and punctual attendance
- Some travel may be required (less than 10%)
#IND-HP
#LI-MK1
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Additional Information
Work Environments
F&G believes in an employee-centric flexible environment, which is why we offer the ability for in-office, hybrid and remote work arrangements. During the hiring process, you’ll work with your leader to decide what works best for your role.
F&G complies with federal and state disability laws and makes reasonable accommodations for applicants and candidates with disabilities, unless such accommodation would cause an undue hardship for F&G. If reasonable accommodation is needed to participate in the job application or interview process, please contact [email protected].
Join our employee-centric hybrid work environment: F&G Careers
About F&G
Since 1959, Fidelity & Guaranty Life Insurance Company (F&G) has offered annuity and life insurance products to those who are seeking security in retirement and protection during life’s unexpected events.
As a national Top Workplace1, an Iowa Top Workplace2 and a proud equal opportunity employer, F&G team members are empowered, collaborative, dynamic and authentic. We believe that by embracing these values, we will continue to build and strengthen the company while continuing to be a great place to work.
1 Top Workplaces USA 2022 – 2023
2 Des Moines Register Top Workplaces 2018 – 2022
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