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Associate Accountant
Fidelity Investments
Smithfield, RI, United States
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The Fidelity Corporate Accounting function provides accounting services to Fidelity business units and legal entities. Corporate Accounting is responsible for core accounting, financial reporting and consolidation services, and the preparation of financial statements for the numerous Fidelity Investments legal entities and partnerships. Corporate Accounting also has several initiatives underway to formalize and enhance controls, upgrade technology and simplify the existing legal entity structure.
The Expertise We’re Looking For
• Undergraduate degree in Accounting
• CPA or CPA track preferred
• Prior experience in an accounting environment or financial services industry a plus
• Willingness to learn financial systems and multi-dimensional reporting tools (i.e. Oracle and Essbase)
The Purpose of Your Role
The insurance accounting team, part of Fidelity’s Corporate Accounting function, provides accounting services to Fidelity’s life insurance business, Fidelity Investments Life Insurance Company (“FILI”). FILI offers life and annuity products to individual investors. The FILI Accounting team currently has an open opportunity at the Associate Accountant level.
The Skills You Bring
• Strong knowledge of Microsoft Suite (particularly in Excel)
• Excellent communication, analytical, problem solving, multitasking, and organizational skills are required
• Ability to work well both independently and as part of a team with excellent interpersonal, verbal and written communications skills required
The Value You Deliver
• Complete critical daily accounting functions such as daily manual journal entries, calculation of certain cash settlements (reinsurance, withholding and commissions) as well as bank account and policyholder receipt/disbursement reconciliations.
• Submit payment requests for invoices received by the accounting group on a weekly basis, as needed.
• Complete monthly general ledger reconciliations for cash, policyholder suspense, and reinsurance accounts.
• Assist in the preparation of quarterly and annual Statutory (SAP) financial statements.
• Assist in the preparation of annual audited GAAP and SAP financial statements.
• Evaluate insurance accounting systems and processes in order to develop and recommend improvements to increase the efficiency of the department whenever possible.
• Participate in various finance ad hoc projects as needed (management reporting, system implementations, new product initiatives, etc.).
• Respond as needed to inquiries from management, external auditors, as well as internal and external regulatory agencies (Insurance Departments, NAIC, rating agencies, etc.) regarding accounting information and/or policies and procedures
How Your Work Impacts the Organization
As a key member of the Fidelity Investments Life insurance Company’s accounting team, this candidate will primarily be responsible for certain daily activities and reconciliations, journal entries, invoice processing and financial reporting on both a GAAP and Statutory basis
Company Overview
At Fidelity, we are focused on making our financial expertise broadly accessible and effective in helping people live the lives they want. We are a privately held company that places a high degree of value in creating and nurturing a work environment that attracts the best talent and reflects our commitment to our associates. For information about working at Fidelity, visit FidelityCareers.com.
Fidelity Investments is an equal opportunity employer.