Manager, Investment Accounting

Southern Farm Bureau Casualty Insurance Company - Jackson, MS

Full-time - Manager

Jackson, MS

Insurance Carriers and Related Activities

About the position

Job Opportunity: Manager, Investment Accounting at Southern Farm Bureau Life Insurance Company Overview: Southern Farm Bureau Life Insurance is a leading provider of life insurance and financial services. We are committed to serving our policyholders and communities with integrity and excellence. As the Manager, Investment Accounting, you'll be an essential part of our Accounting team, contributing to the success of our organization. Location: Jackson, MS Role and Responsibilities: The Manager of Investment Accounting monitors the day-to-day activities of the investment accounting area. This position is responsible for the reporting accuracy of all asset classes including bonds, common and preferred stocks, mortgage loans, real estate, alternative invested assets (limited partnerships, LLCs, Tax Credits), and derivatives (options, puts, calls). The Manager of Investment Accounting is responsible for the appropriate accounting, regulatory and internal reporting, and record retention of invested assets. Your responsibilities will include: 1. Overall Duties: - Oversee the preparation and review of financial statement quarterly exhibits, including schedules A, B, BA, D, DA, E, AVR, IMR, exhibit of net investment income, capital gains/losses, and A/S notes and general interrogatories for investments. Also prepare data provided to auditors and industry related organizations (A.M. Best, ACLI, Weiss). - Oversee preparation of internal reports for the quarterly Board meetings as directed by the Chief Financial Officer, including analytical summaries, investment income analysis, and various other breakdowns for all asset classes. Write up commentary for the CFO related to current period changes. - Oversee and maintain tax reporting for investments, including compilation of limited partnership data and preparation of schedules A, B, and D of the tax return. Work with the Tax Manager as needed. 2. Clearwater-Related Duties: - Oversee the reporting of securities, including time-sensitive ratings, prices, projected cash flows, impairments, conversions, transfers, and private placement data. - Work with Clearwater as needed to resolve issues and provide assistance regarding the proper accounting for special transactions like exchanges, conversions, and derivatives (options, puts, and calls). - Update EAS system monthly with general ledger file received from Clearwater. Approve additional journal entries needed and reconcile all investment-related accounts. - Review and reconcile monthly and quarterly reports to the ledger, including the IMR calculation, accounts receivable, accounts payable, amounts in suspense, amounts in miscellaneous income, and all annual statement schedules. 3. Investment Class-Related Duties: - Oversee the processing of all mortgage loan activity on Precision LMS and maintain accompanying mortgage loan spreadsheets, including transactions related to deposits, disbursements, and monthly mortgage loan fees. - Approve limited partnership cash activity in the Alternative Investment System. Follow-up as needed with LP fund managers and the Securities Management department on transaction details. - Oversee the reconciliation of quarterly LP capital account statements and annual co-investment financial statements. - Review the AVR calculations, as well as related analytical work papers. This includes re-performing portions of the calculation independently to confirm accuracy and providing summaries of the changes in this reserve to management. - Act as a liaison between Securities Management, Corporate Actuarial, and Clearwater to obtain correct segment data used for asset-liability management. Oversee the distribution of the corresponding quarterly segmented balance sheet.

Responsibilities

• Oversee the preparation and review of financial statement quarterly exhibits, including schedules A, B, BA, D, DA, E, AVR, IMR, exhibit of net investment income, capital gains/losses, and A/S notes and general interrogatories for investments.
• Prepare data provided to auditors and industry related organizations (A.M. Best, ACLI, Weiss).
• Oversee preparation of internal reports for the quarterly Board meetings as directed by the Chief Financial Officer, including analytical summaries, investment income analysis, and various other breakdowns for all asset classes.
• Write up commentary for the CFO related to current period changes.
• Oversee and maintain tax reporting for investments, including compilation of limited partnership data and preparation of schedules A, B, and D of the tax return.
• Work with the Tax Manager as needed.
• Oversee the reporting of securities, including time-sensitive ratings, prices, projected cash flows, impairments, conversions, transfers, and private placement data.
• Work with Clearwater as needed to resolve issues and provide assistance regarding the proper accounting for special transactions like exchanges, conversions, and derivatives (options, puts, and calls).
• Update EAS system monthly with general ledger file received from Clearwater.
• Approve additional journal entries needed and reconcile all investment-related accounts.
• Review and reconcile monthly and quarterly reports to the ledger, including the IMR calculation, accounts receivable, accounts payable, amounts in suspense, amounts in miscellaneous income, and all annual statement schedules.
• Oversee the processing of all mortgage loan activity on Precision LMS and maintain accompanying mortgage loan spreadsheets, including transactions related to deposits, disbursements, and monthly mortgage loan fees.
• Approve limited partnership cash activity in the Alternative Investment System.
• Follow-up as needed with LP fund managers and the Securities Management department on transaction details.
• Oversee the reconciliation of quarterly LP capital account statements and annual co-investment financial statements.
• Review the AVR calculations, as well as related analytical work papers.
• Act as a liaison between Securities Management, Corporate Actuarial, and Clearwater to obtain correct segment data used for asset-liability management.
• Oversee the distribution of the corresponding quarterly segmented balance sheet.

Requirements

• Bachelor's degree in Accounting or Business related field
• FLMI preferred
• CPA preferred
• Minimum five years of experience in investment-related field and/or accounting role
• Extensive knowledge of various investment vehicles, including characteristics and accounting treatment
• Preferred experience supervising people
• Preferred knowledge of statutory accounting principles and regulatory filing requirements specific to a life insurance company
• Advanced knowledge of Microsoft Excel
• Strong analytical skills
• Strong communication and organizational skills
• Ability to function effectively in the workplace as exhibited through one's integrity, courage to act and communication skills
• Ability to work with others effectively as exhibited through one's respect for people and commitment to teamwork
• Ability to meet organizational goals and customer expectations as exhibited through one's accountability for results, commitment to service and initiative
• Ability to perform the essential functions of the job as exhibited through one's growth in job knowledge and professional development
• Ability to lead people towards meeting the organization's vision, mission, values and goals
• Ability to build the underlying strength and continuity of the organization by recognizing potential and developing it through attention to training, coaching and evaluation of performance
• Ability to bring about strategic change to meet the department and organizational goals
• Ability to establish measurable outcomes and create systems for monitoring progress towards them
• Ability to make well-informed, effective and timely decisions, even when data is limited, or solutions produce unpleasant consequences; perceive the impact and implications of decisions
• Ability to manage human, financial, and information resources strategically. Follow fiscal guidelines, regulations, principles, and standards when committing fiscal resources or processing financial transactions

Nice-to-haves

• FLMI certification
• CPA certification
• Experience supervising people
• Knowledge of statutory accounting principles and regulatory filing requirements specific to a life insurance company

Benefits

• Comprehensive health insurance coverage for employees and their families.
• Access to an onsite clinic, preventive care, and prescription drugs.
• Mental health coverage and an Employee Assistance Program.
• Incentives for maintaining an active lifestyle through the Active Lifestyle Rewards Program.
• Rewards for participating in fitness challenges and wellness activities.
• Customized weight management plans and support for achieving and maintaining a healthy weight.
• Opportunities to connect with colleagues through employee engagement activities.
• Fun teambuilding activities and annual events for employees and their families.
• Convenient access to nutritious meals through an onsite cafe.
• Continuous learning opportunities and tuition reimbursement for further education.
• Mentorship programs pairing employees with mentors for professional growth.
• Advancement within the company and career growth prospects.
• Financial security for employees and beneficiaries through life insurance and company-funded pension.
• Paid time off for volunteering to contribute to the community.