Risk Product Accounting Specialist

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Job description

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

Summary:

Performs financial accounting functions, and related control activities, for assigned products, systems, and processes to ensure accuracy and conformance with statutory accounting standards. Researches and resolves system and accounting issues, and analyzes contract administration and financial systems to identify potential enhancements to strengthen controls and improve efficiency. Prepares financial and analytical information to support regulatory compliance and operational functions. Participates in cross-department product and system implementation projects.

Primary Duties & Responsibilities:

• Performs financial accounting functions, and related control activities, for assigned products, systems, and processes to ensure conformance with statutory accounting standards. Ensures the accuracy of the accounting generated by contract administration systems and any necessary manual accounting. Analyzes financial activity for alignment with expectations and the identification of trends or unusual items. Prepares and reviews account reconciliations in accordance with division policy and department financial close timelines. May include accounting transactions and balances related to premiums/fees, policy benefits, dividends, reinsurance, field compensation, cash, unclaimed property, and associated suspense accounts.
• Develops and maintains an understanding of the business transactions and related accounting performed by contract administration and cash/client fund systems (e.g., cash disbursement system). Maintains working knowledge of the financial reconciliation system. Coordinates timely research and resolution of system and accounting issues with operating and IS department contacts. Identifies potential enhancements to improve accuracy and efficiency, and leads or assists in efforts to implement changes. Provides guidance to other division staff and the operating areas performing accounting, control, and servicing activities.
• Represents the Division on audits, task forces, and other special projects related to risk products. Acts as a contact for external auditors in their examination of the annual financial statements. May assist in the implementation of new accounting and reporting requirements and standards impacting products.
• Assists in cross-department efforts to implement new and enhanced products and systems. Develops and delivers accounting, reporting, and testing requirements, and performs testing, with some guidance from manager. Works with other team members to ensure that adequate accounting control structures are designed and implemented, and all necessary accounting information is completely and accurately recorded in the financial accounting systems.

Qualifications:

• Bachelor's degree in accounting, or related field or equivalent education plus experience required.
• Minimum of 1 year of relevant professional accounting experience.
• Public accounting experience preferred.
• Certified Public Accountant (CPA) designation preferred.
• Proven analytical and problem-solving skills.
• Strong written and verbal communication skills.
• Demonstrated ability to work independently.
• Experience with the application of statutory 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.

Compensation Range:

Pay Range - Start:

$44,310.00

Pay Range - End:

$82,290.00
Northwestern 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. Please click here for additiona l information relating to location-based pay structures.

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.

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.

FIND YOUR FUTURE 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
• Concierge service
• Comprehensive benefits
• Employee resource groups

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