Investment Accounting Specialist
4 weeks ago
Accounting and Reporting for Investment Products
The Investment Accounting group at AIG is responsible for the accounting and reporting for AIG's Invested Assets portfolio comprised primarily of fixed maturity securities and includes private equity, hedge funds, commercial loans and equity securities.
The team is also responsible for accounting and reporting AIG's derivative portfolio.
Key Responsibilities
- Reconciliation of transactional data from various sub-ledgers to the general ledger and ultimately AIG's financial statements as well as all related external reporting for investments (10Q/K, Financial Supplement, STAT Audited Financials, Investment NAIC reporting and various government regulatory reports).
- Establishing the accounting for new transactions or new investment products, implementation of new GAAP and STAT accounting standards as it relates to invested assets, the implementation of new accounting systems as it relates to invested assets, and management of the risks, controls and AIG audit as it relates to investments and supporting Investment FP&A.
- Executing and managing accounting processes related to the monthly and quarterly accounting close to ensure accuracy of AIG's invested assets data across all entities.
- Supporting the review and preparation of certain Investment disclosures for AIG 10Q/K and Financial Supplement, including as appropriate the Investment, Lending, Fair Value, VIE Footnotes and Investment MD&A.
- Supporting the review and preparation of NAIC statutory reporting and other regulatory reporting requirements.
- Leading the implementation of process improvements, in coordination with other areas of the department/organization.
- Key point of contact and support for the various business unit and corporate controllers.
- Coordinating with various areas in the organization to develop an understanding of new investment transactions and to provide guidance/support that ensures the accounting results from these investments are accurately recorded in the AIG ledgers.
- Performing ad-hoc analytical requests.
Requirements
- Bachelor's degree in accounting or finance.
- 10+ years' experience in accounting and reporting for investment products (fixed income, alternative investments, CML, or derivatives ideal).
- Deep understanding of investment products and accounting treatment for fixed maturity, equity, and other investment products.
- Prior Big four experience in investment related audit roles a strong plus.
- Strong knowledge of Generally Accepted Accounting Principle (GAAP) and the recording of investments-related journal entries.
- Strong knowledge of statutory reporting gained in part by preparation of statutory reporting schedules.
- Experience with foreign currency remeasurement and translation.
- Experience reviewing work papers supporting disclosures.
- Experience with PAM/Aladdin.
AIG's Total Rewards Program
At AIG, our people are our greatest asset. We know how important it is to protect and invest in what's most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.
AIG's Culture of Belonging
We're committed to creating a culture that truly respects and celebrates each other's talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through our flexible work arrangements, diversity and inclusion learning, cultural awareness activities and Employee Resource Groups (ERGs).
AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
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