Senior Derivatives Accounting & Reporting Lead

  • Competitive
  • New York, NY, États-Unis
  • CDI, Plein-temps
  • New York Life Insurance Company
  • 11 déc. 17 2017-12-11

Senior Derivatives Accounting & Reporting Lead

New York Life Insurance Company ("New York Life" or "the company") is the largest mutual life insurance company in the United States*. Founded in 1845, New York Life is headquartered in New York City, maintains offices in all fifty states, and owns Seguros Monterrey New York Life in Mexico.

New York Life is one of the most financially strong and highly capitalized insurers in the business. The company reported 2016 operating earnings of $1.954 billion. Total assets under management at year end 2016, with affiliates, totaled $538 billion. As of year-end 2016, New York Life's surplus was $23.336 billion**. New York Life holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies: A.M. Best, A++; Fitch AAA; Moody's Aaa; Standard & Poor's AA+. (Source: Individual Third Party Ratings Report as of 8/17/16).

Financial strength, integrity and humanity-the values upon which New York Life was founded-have guided the company's decisions and actions for over 170 years.

This role will be responsible for the accounting and reporting for the organization's monthly derivative close, which incorporates the ASC 815 (FAS 133) process, regulatory reporting and management reporting across various derivative instrument types including interest rate, foreign exchange and credit instruments.

Responsibilities

  • Review Derivative general ledger account reconciliations, analysis and various schedules
  • Review of the monthly and quarterly derivative journal entries
  • Prepare and/or Review of Quarterly internal and external reporting (Investment Committee, Rating Agencies Surveys, Regulatory filings)
  • Prepare and/or Review Annual Derivative related footnote disclosures on a GAAP and Statutory basis
  • Ensure all procedures are in compliance with SOX and are formally documented and maintained
  • Perform routine one-off analysis of derivative related information, as requested
  • Monitor existing contract designations, determine if any changes have occurred and communicate/document the impact on the Company's financial results


Required Qualifications
  • Minimum of 7+ years of accounting, managerial and/or financial reporting or public accounting
  • B.S. in Accounting or Finance
  • CPA or MBA preferred
  • Ability to multi-task successfully in a fast paced environment
  • Ability to work independently
  • Excellent organizational and analytical skills
  • Strong working knowledge of Microsoft Excel and Word
  • GAAP/STAT accounting knowledge of Investments and/or Derivatives (ASC 815, ASC 820, SSAP 86)
SF:LI-MD1
SF:EF-MD1

EOE M/F/D/V

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* Based on revenue as reported by "Fortune 500, ranked within Industries, Insurance: Life, Health (Mutual)," Fortune Magazine, June 17, 2016. See http://fortune.com/fortune500/ for methodology.
** Total surplus, which includes the Asset Valuation Reserve, is one of the key indicators of the company's long-term financial strength and stability and is presented on a consolidated basis of the company.

1. Operating earnings is the key measure use by management to track Company's profitability from ongoing operations and underlying profitability of the business. This indicator is based on generally accepted accounting principles in the US (GAAP), with certain adjustments Company believes to be appropriate as a measurement approach (non GAAP), primarily the removal of gains or losses on investments and related adjustments.

2. Assets under management represent Consolidated Domestic and International insurance Company Statutory assets (cash and invested assets and separate account assets) and third party assets principally managed by New York Life Investment management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company.