Job Description:
Director, Accounting
The Role
Based in Bermuda, this is a critical and visible role that will report to the Head of Accounting and have responsibility for a broad range of financial and management reporting requirements. This is a highly responsible position requiring a motivated and energetic individual that can serve as an accounting expert and technical resource. In this role, the successful candidate will work on a variety of tasks including US GAAP reporting, internal management reporting, statutory reporting and annual regulatory filings, onboarding of reinsurance contracts, and maintenance of policies and procedures. You will work closely with other internal team members within Soteria, as well as with several teams within Fidelity Investments.
Responsibilities:
Oversee monthly and quarterly financial reporting under US GAAP and management reporting including planning and coordination across functions and support initiatives to accelerate the close process.
Lead the preparation of regulatory filings, working closely with Actuarial and Risk functions.
Assist with relevant capital considerations and regulatory reporting including Economic Balance Sheet and BSCR.
Synthesize and summarize detailed financial data to create meaningful, high-level, result-oriented analysis used for senior management and board reporting.
Research and resolve complex technical accounting and financial reporting matters.
Onboarding of new reinsurance transactions including analysis of accounting requirements and set-up of all accounting and operational aspects.
Assist with the continued development of accounting processes and controls and tracking throughout the year.
Provide expertise on reinsurance accounting and reporting, partnering collaboratively with corporate accounting, treasury and finance functions across Fidelity.
Maintain documentation of accounting policies for US GAAP and Bermuda statutory financial reporting.
Ensure compliance with accounting policies and manage the annual audit.
Develop effective communication and partnerships with Actuarial, Risk and Finance functions to achieve business goals.
The Expertise and Skills You Bring
Bachelor’s Degree in Accounting, Finance or Business, plus an internationally recognized accounting designation (CPA, ACA, CA or equivalent).
Recent experience with accounting for life and annuity products under US GAAP including LDTI and Bermuda Statutory.
8+ years professional accounting experience with the (re)insurance industry or public accounting firm working with reinsurance clients.
Knowledge of the accounting for life insurance and annuity products and accounting for different investment classes.
Experience with Clearwater or comparable investment accounting platform and alternative asset classes preferred.
Excellent leadership, communication, organizational, and presentation skills and attention to detail.
Self-starter possessing a high degree of personal and professional leadership with the ability to adapt effectively to change and willingness to take on additional project work and responsibilities as they arise.
High level of competency with Microsoft Office and the aptitude to learn various systems.
Ability to work well within a team environment, cross-functionally with other teams, and balance detail with broader strategic initiatives.
The Team
This is an outstanding opportunity to join a newly formed team at Soteria Reinsurance within Fidelity Investments! Come lead one of the world-class financial services companies in its entry into the annuity reinsurance market. Our vision is to build a trusted partner to cedants with strong capital and investment capabilities that will be a trusted, long-term partner to our clients.
Location: Bermuda, with regular travel to Boston required
Compensation: Competitive salary, bonus, and benefits package commensurate with experience.