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Vice President, Financial Reporting
Prudential Securities
Newark, NJ, United States
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Description
An outstanding and challenging opportunity as Vice President, Financial Reporting, is available within the Individual Life Insurance Finance Team. As Deputy Controller, this critical leadership role is charged with leading the controllership, financial reporting and internal control activities for the Individual Life Business (ILB) and Closed Block Division (CBD), including the legal entities that support each. The position oversees the reporting and analysis of quarterly and annual results on both a GAAP and Statutory basis for ILB and CBD. In addition, this position will lead other activities associated with ILB and CBD, including Accounting Policy and SOX/MAR coordination, along with supporting new product introductions and capital management projects. Because of the complexity involved, the position requires the individual to have a solid understanding of financial results on a GAAP, Statutory and Tax reporting bases and a broad knowledge of financial and actuarial concepts within the Life Insurance industry. The individual will have significant exposure to many senior leaders and teams across the enterprise, so must possess the ability to collaborate across multiple teams and businesses.
This position reports to the VP of Financial, Planning and Analysis for ILB and CBD, who is responsible for both controllers and planning and analysis, and will manage a team of two direct reports and seven total staff, located in Newark, NJ.
Primary Responsibilities include, but are not limited to:
• Overseeing and reviewing financial statements for ILB segment, CBD, Pruco Life subsidiaries, Prudential Life Insurance Company and the Life Captives, including presenting results and analysis to senior management and outside counterparties.
• Working closely with Finance Shared Services (FSS) teams to coordinate close process and sign-off on ILB and CBD financial statements, along with respective legal entities.
• Providing support and analysis for PFI and Pruco Life’s SEC reporting (10K/10Q/MD&A).
• Analyzing key business earnings drivers, including underwriting results, investment results, expense drivers and taxes.
• Supporting quarterly forecasts for both GAAP and Stat.
• Leading Accounting Policy documentation, including for capital management projects, new products and new accounting guidelines (i.e, Target Improvements).
• Managing relationships with corporate centers and other internal parties, including Corporate Controllers, Actuarial, FSS, Captive Management Office, Closed Block Executive Office, Risk Management, internal and external auditors, Treasurers and Asset & Liability Management.
• Supporting control activities (SOX/MAR, etc.) for related processes.
• Supporting annual Closed Block requirements, such as annual appraisal for the dividend setting process and agreed upon procedures for the State of NJ.
• Human resource management including staff recruiting and development, training and succession planning.
Qualifications
• Strong leadership and communication skills.
• Previous management experience including the ability to lead and influence people and develop strong teams.
• Ability to work across teams and collaborate with others to drive strategy and execution.
• Strong GAAP and Statutory reporting experience in the insurance industry including a thorough knowledge of insurance industry GAAP, Statutory and Tax accounting policies and concepts.
• Superior analytical skills with the ability to identify interrelationships among components of financial information to understand and document key drivers of earnings and significant financial trends.
• Strong understanding of insurance-related actuarial concepts.
• Degree in Accounting or related field.
CPA designation with public accounting experience is preferred