Manager, Investment Accounting

Job Responsibilities and Requirements

The Manager, Investment Accounting is also responsible for the supervision and review of the month-end, quarter-end, and year-end close processes, including statutory and GAAP deliverables across all companies for which assets are managed. Responsibilities also include review of income, gains, and positions for an investment portfolio containing fixed income, equity, and alternative investment holdings. Serves as a key point of contact for financial reporting team, investment managers, external client stakeholders, and external / internal auditors. The Manager, Investment Accounting will also serve as a resident expert in respective GAAP and statutory guidance, providing assistance with appropriate disclosures and accounting treatment for various asset classes and investment strategies, and ensuring that new accounting pronouncements are understood and implemented correctly.

The Manager, Investment Accounting is responsible for supervising, mentoring, and developing members of the Investment Accounting Team. The Manager, Investment Accounting clearly defines roles and responsibilities for each team member and ensures that he / she understands their roles in the larger organization and has a strong understanding of how the business operates, including legal entity structure, operations, and key management metrics.

The Manager, Investment Accounting is responsible for owning project-based initiatives related to the real estate owned (REO) investment accounting results within the Investment Accounting Department. The Investment Accountant will identify and implement efficiencies within this process, assist with system implementation and help to develop best practices to support significant growth in this specific asset class.

Reporting

• Owns general ledger entry recording process across various accounting bases for investment-related items, including the oversight of the preparation of supporting documentation, reconciliation of key items, and coordination of the general ledger coding and mapping for new accounts and asset classes.
• Reviews and approves investment accounting support provided for quarterly and annual financial reporting on a GAAP and statutory basis, including overseeing the development and production of supporting schedules and ensuring the completeness and accuracy of such support.
• Ensures accuracy of information included in financial reporting packages and management reporting deliverables for corporate parent and other clients in their respective proprietary formats.
• Coordinates responses to various requests from internal and external stakeholders for financial data.
• Manages direct reports by appropriately delegating work assignments, completing annual reviews and other reviews as necessary, and actively engaging in employee development and career planning.
• Directly coordinates with outsourced investment accounting provider on investment accounting manners and key departmental initiatives, ensuring appropriate prioritization of initiatives and completion of outstanding tasks.

Analysis

• Leads the month-end close process with a focus on accuracy, efficiency, and continuous progress towards the goals and objectives set forth by management and the broader team.
• Analyzes and understands drivers behind investment income through independent analytics and variance analysis, including identifying and remediating issues in a timely manner, addressing any data and/or investment accounting policy inconsistencies by working across all stakeholders including third-party providers.
• Ensures accuracy and consistency of reporting packages for management, financial, and regulatory reporting for internal and external consumption.
• Applies investments knowledge and previous work experience to assess reasonableness of results, and proactively questions inconsistent data sets.

Project Management & Automation

• Participates in improving investment accounting workflow based on feedback from all key stakeholders.
• Leads strategic reporting projects for the department including ledger booking enhancements, automation of monthly workflow through use of various systems/tools, investment accounting vendor due diligence, and additional items as assigned.
• Acts as a key point of contact for external vendors, including investment accounting platform vendor.
• Reviews operational workflow to identify areas of opportunity to streamline and automate tasks and implements changes to improve workflow as identified.
• Assists in the development and documentation of accounting policies and procedures, ensuring documentation is maintained and updated at all times.
• Produces / supervises the creation of audit-ready documentation for areas of responsibility relating to internal control environment and ensures team members understand audit requirements.
• Participates in the onboarding of new asset classes, investment strategies, and investment systems.
• Actively leads department meetings and engages colleagues in open forum discussions.
• Promotes professional development of direct reports including technical and qualitative skills. Enrolls staff in continuing education programs offered by the Company as well as external programs based on relevance and management approval.

Real Estate Owned Project Based Initiatives

• Participates in improving the overall real estate owned workflow based on feedback from all key stakeholders and challenging external vendors to improve upon deliverables and capabilities.
• Develops an efficient audit model related to real estate owned processes and procedures to accurately produce work papers, ensures appropriate levels of review, and provides timely information to auditors as requested.
• Be the main point of contact for the audits of the real estate owned Trusts.
• Establishes and maintains working relationships with colleagues and peers outside of the company to obtain additional perspectives and ideas for potential implementation of best practices.

Required Knowledge, Skills, Abilities and/or Related Experience

• Bachelor's degree in Finance, Accounting, Economics, or Engineering
• CPA designation or working towards CPA designation preferred.
• 8+ years relevant work experience.
• Solid command of fixed income instruments and concepts, including discounting and time value of money principles, and internal rates of return.
• Understanding of insurance investment accounting with associated GAAP and statutory principles.
• Ability to communicate complex information in a concise and understandable manner.
• Ability to work under pressure and to provide accurate results in such situations.
• Demonstrated independence to complete tasks with minimal supervision and mentor staff members.
• Solid proficiency in Microsoft Office, particularly Microsoft Excel and PowerPoint, including competency with various Excel formulas including V- and H-lookups, pivot tables, database functions, and arrays.
• Ability to research, comprehend, explain, and make conclusions/recommendations based upon accounting guidance.

Ability to Travel: Up to 10%


The expected hiring range for this position is $113,850.00 - $151,990.00 annually for work performed in the primary location (Philadelphia, PA). This expected hiring range covers only base pay and excludes any other compensation components such as commissions or incentive awards. The successful candidate's starting base pay will be based on several factors including work location, job-related skills, experience, qualifications, and market conditions. These ranges may be modified in the future.

Work location may be flexible if approved by the Company.

What We Offer

At Reliance Matrix, we believe that fostering an inclusive culture allows us to realize more of our potential. And we can't do this without our most important asset-you.

That is why we offer a competitive pay package and a range of benefits to help team members thrive in their financial, physical, and mental wellbeing.


Our Benefits:

• An annual performance bonus for all team members
• Generous 401(k) company match that is immediately vested
• A choice of three medical plans (that include prescription drug coverage) to suit your unique needs. For High Deductible Health Plan enrollees, a company contribution to your Health Savings Account
• Multiple options for dental and vision coverage
• Company provided Life & Disability Insurance to ensure financial protection when you need it most
• Family friendly benefits including Paid Parental Leave & Adoption Assistance
• Hybrid work arrangements for eligible roles
• Tuition Reimbursement and Continuing Professional Education
• Paid Time Off - new hires start with at least 20 days of PTO per year in addition to nine company paid holidays. As you grow with us, your PTO may increase based on your level within the company and years of service.
• Volunteer days, community partnerships, and Employee Assistance Program
• Ability to connect with colleagues around the country through our Employee Resource Group program

Our Values:

• Integrity
• Empowerment
• Compassion
• Collaboration
• Fun

EEO Statement

Reliance Matrix is an equal opportunity employer. We adhere to a policy of making employment decisions without regard to race, color, religion, sex, national origin, citizenship, age or disability, or any other classification or characteristic protected by federal or state law or regulation. We assure you that your opportunity for employment depends solely on your qualifications.


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