Life & Annuity Controller and Financial Architecture Support
FA - Finance
Estimated Travel Percentage (%): Up to 25%
Relocation Provided: Yes
American General Life Insurance Company
Your Future Team
Fortitude Re: 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 (formally DSA Re) 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 .
Your Contribution at AIG/Fortitude Re
Lead the Controllership team for the Life & Annuity business including accounting for complex reinsurance arrangements and the business operations of our third-party administration legal entity. The role also collaborates with IT on the business support for financial systems. Initially, this part of the role will require leadership of several financial system implementations including a new general ledger system, and related applications for the efficient operation of the Fortitude Finance organization.
Responsibilities include the following:
- Collaborate with IT, FP&A and other finance team users on the implementation of a cloud based general ledger and financial reporting system. This includes gather requirements from the user community and ensuring that the system design is consistent with overall Fortitude finance strategy (highly automated, flexible, etc.).
- Manage the complex accounting and reporting requirements of various reinsurance agreements of Life and Retirement (currently modified co-insurance agreements). Ensure compliance with US GAAP. Implement consistent accounting policies and procedures at an operational level.
- Drive automation of calculations/processes with regards to quarterly Life and Retirement entries. Continually improve processes to reduce cycle time and improve accuracy by measuring key performance indicators for critical processes, establishing processes and eliminating defects, and simplifying and automating where possible.
- Work with FP&A to produce high-quality and timely analysis supporting quarterly results and analysis for internal and external reporting on a GAAP and Management reporting basis including, reserve balances and roll forward of reserve balances.
- Monitor internal controls around the reserving and reporting processes. Enhance controls documentation and operating effectiveness.
- Support finance infrastructure through collaboration with IT. This includes the general ledger system (post implementation), analytic tools, interfaces with third party data providers, etc
- Bachelor's Degree and 10+ years of experience.
- CPA or equivalent experience.
- Specialty in supporting finance systems within a complex accounting environment.
- Strong technical accounting background.
- Demonstrated ability to apply GAAP accounting principles.
- Significant experience in life and retirement industry and application of GAAP pronouncements related to both life and annuities products.
- High degree of initiative, dependability and ability to work independently on multiple engagements and in a fast-paced environment.
- Capable of communicating and expressing ideas clearly and concisely, in both written and verbal formats.
- Strong knowledge base and effective research skills related to technical accounting and reporting issues pertaining to the life and retirement industry.
- Able to interact effectively across different levels and functional areas of the organization (with senior management, financial reporting, corporate accounting policy group, etc.) and external auditor.
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.