AVP, Derivatives Accounting

Location: Hybrid (New York Metro Area)

A leading global life insurance and reinsurance organization is seeking an AVP, Derivatives Accounting to join its Investment Accounting team. This individual will be responsible for overseeing the accounting, reporting, and analysis of the company’s derivatives portfolio under both U.S. GAAP and Statutory Accounting.

Reporting to the Head of Derivatives Accounting, this role partners closely with investment management, finance, financial reporting, and third-party investment accounting providers to ensure the accuracy of investment records, timely financial close, and high-quality reporting. This position also plays a key role in supporting process improvements, technical accounting research, and the development of junior team members.

Key Responsibilities

• Serve as the subject matter expert for derivative accounting and financial reporting.
• Lead the monthly accounting close for the derivatives portfolio under U.S. GAAP and Statutory Accounting.
• Perform balance sheet and income statement variance analysis and explain investment results.
• Oversee the relationship with the third-party investment accounting provider to ensure accurate and timely accounting.
• Prepare and review financial statement disclosures, footnotes, and supporting schedules for GAAP and Statutory reporting.
• Partner with investment professionals on new derivative strategies, products, and investment managers to determine appropriate accounting treatment.
• Research and interpret accounting guidance for new derivative instruments and complex investment transactions.
• Prepare and review manual journal entries related to investment accounting.
• Collaborate with finance, investment management, asset managers, and reinsurance partners to support reporting and financial analysis.
• Execute and maintain key SOX and internal control activities over investment accounting.
• Mentor and develop junior team members while supporting a culture of continuous improvement and operational excellence.

Qualifications

• Bachelor’s degree in Accounting or Finance required.
• CPA designation preferred.
• Approximately 6-10+ years of accounting experience, including significant experience in derivatives accounting and/or insurance investment accounting.
• Strong knowledge of U.S. GAAP and Statutory Accounting Principles.
• Experience with investment accounting platforms such as Clearwater Analytics or similar outsourced investment accounting models is highly preferred.
• Excellent technical accounting research, analytical, and problem-solving skills.
• Strong verbal and written communication skills with the ability to explain complex accounting topics to senior leadership and business partners.
• Proven ability to build relationships across finance, investments, and other cross-functional teams.
• Prior leadership or mentoring experience is preferred.
• Self-motivated, adaptable, and able to manage multiple priorities in a fast-paced environment.
• High degree of integrity, professionalism, and attention to detail.
• Advanced Microsoft Excel and Microsoft Office skills.