Senior Supervisory Accountant - Life TPA (Fortitude Re)
FA - Finance
Estimated Travel Percentage (%): No Travel
Relocation Provided: No
American General Life Insurance Company
In 2016, AIG created a third reporting segment, Legacy, to manage non-core assets and liabilities, and businesses in run-off, with the objective of balancing the benefits of return of capital or capital redeployment, with potential near-term reductions in book value. The launch of the Fortitude Re entity in 2017 was an important early step in achieving that objective. AIG continued the Fortitude Re strategy by announcing a strategic partnership with The Carlyle Group to achieve the long-term vision for Fortitude Re. Fortitude Re currently reinsures $36 billion of AIG's Legacy Life and Annuity and General Insurance liabilities. Fortitude Re's diversified risk portfolio, strong claims operation, and efficient administration capabilities provide the foundation for a platform that can be scaled over time to offer unique solutions to external parties. AIG and Carlyle plan to build Fortitude Re into a standalone platform with financial strength that complements its strategically differentiated capabilities. For more information, please visit http://www.aig.com/investor-relations
Senior Supervisory TPA Accountant for Life and Annuity lines of Fortitude Re is a key role within the Controllership organization. This role will be involved in overseeing GAAP accounting and reporting functions. The Senior Supervisory Accountant is responsible for developing, maintaining and implementing standard accounting practices in accordance with company policy and US GAAP. The position requires meeting tight deadlines for monthly, quarterly and annual closes. This requires ability to communicate effectively across multiple staff levels in the Fortitude Re and AIG finance organizations. Accounting activities include developing GAAP compliant ledger transactions, applying GAAP for Life and Annuities product accounting for the third-party administrator of AIG's stand-alone reinsurer, billing and monitoring of TPA service fees, maintenance of a complete and accurate general ledger and related reports, analytics, and reporting by legal entity and some regulatory filings. The responsibilities also include collaborative work with team members, including review of team member transactions, reporting and other related work products. The key to success in this position is being proactive, detail oriented, dependable, focused on identifying opportunities to improve existing processes, willing to share ideas and recommendations. Organizational skills and a positive attitude will contribute to success in this position.
This position reports to the Life Controller of Fortitude Re. This position works closely with others in Fortitude Re including Actuarial and Expense Accounting. This position also interactions with PWC and other internal and external business partners, including third party administrators.
· Timely and accurate reporting for monthly, quarterly and annual reporting closes for modified coinsurance agreements into a newly formed reinsurance entity.
· Maintain quality standards, accurate and complete documentation and accounting controls.
· Use SAP general ledger and Microsoft Excel to review monthly financial reports, journal entries, trend reports and analysis. Research to understand trends and variances, research new product accounting and communicate with appropriate staff to resolve issues and escalate issues when appropriate.
· Ensure all reporting deadlines, due dates and requirements set by financial management are met. Maintain appropriately documented support and monitor internal controls. Respond to ad hoc requests as needed.
· Identify process improvement opportunities to automate and streamline workflow and strengthen controls.
· Develop relationships with members of other departments to facilitate resolution of issues and stay informed of potential future issues.
· Support the Manager with special projects
The Ideal Candidate will have:
5+ years in accounting and analysis required,
supervisory experience a plus.
Bachelor's degree in accounting CPA certification a plus
Strong communication skills both written and verbal which allows them to work effectively with team members and Senior leadership.
Experience working in a mid-to-large, complex company environment is preferred.
Ability to multi-task, work under pressure and meet deadlines.
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.