Assistant Controller/Vice President, Finance
Lightstone · New York, NY
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- On site
- Full-time
- $150,000 / year
- New York, NY
Job highlights
- Manage and enhance statutory accounting and reporting infrastructure.
- Oversee accounting for reinsurance customers and investment portfolios.
- Lead forecasting and projections for new business opportunities.
- Support CFO with new client and transaction initiatives.
- Ensure compliance with US GAAP and NAIC guidelines.
About the role
Company Overview
Converge RE provides reinsurance to life and annuity insurers seeking improved financial efficiency with the reallocation of capital through a well-capitalized A- financial strength rated reinsurance company.
Converge RE combines life and annuity reinsurance with a sophisticated investment strategy built on Lightstone’s superior real estate asset management skills, balanced by a fixed income allocation managed by multiple global asset managers. We pride ourselves on being able to tackle complex reinsurance opportunities and deliver creative client-centric reinsurance solutions while adhering to stringent regulatory and insurer guidelines. The company is focused on steady growth and continued development.
Converge RE is managed by an experienced reinsurance and insurance team that has a track record of solid risk management and delivering long-term results.
Position Overview
The Assistant Controller, VP - Finance will report into the Chief Financial Officer, Converge Re. The Assistant Controller, VP - Finance will help expand and strengthen the statutory accounting and reporting infrastructure, be responsible for understanding and preparing proper treatment of the company’s investment portfolio, and assist in the management of the daily Life and Annuity Reinsurance accounting operations. Additionally, the Assistant Controller, VP - Finance will assist and directly support the Chief Financial Officer, Converge Re with new business opportunities, work on new client and transaction initiatives, and other projects as needed.
Essential Functions
- Assist in accounting for reinsurance customers, including GAAP & STAT reporting as needed
- The ideal candidate will have experience with statutory investment accounting
- Lead the company’s initiatives with forecasting and projections for new business deals
- Experience with insurance invested assets, including fixed income and other investments
- Leverage industry expertise with US GAAP and NAIC guidelines to assist in structuring reinsurance transactions
- Assist with annual financial statements, including footnotes, income statement, balance sheet, statement of cash flows, Stat to GAAP reconciliation and various other schedules.
- Engage with internal and external business leaders to drive business goals and drive best-practice procedures
- Work closely with investment management team on understanding investments and preparing forecasts, budgets, and other ad hoc requests.
- Assist with review of financial models.
- Position may be required to perform duties outside their normal responsibilities as needed and when requested.
Qualifications
- Bachelor’s or Master’s degree in Accounting or Finance
- 5+ years of relevant experience; reinsurance experience preferred/a plus
- Advanced degree in business, finance and accounting a plus
- Experience with US GAAP and Statutory accounting and preparation
- CPA preferred
- Experience in Annuity & Life Insurance
- Must be proficient and have working knowledge of general ledger transactions and financial statement preparation.
- Firm understanding of accounting rules for investments under U.S. GAAP regulations
- Strong analytical skills and ability to remain highly organized in a deadline driven environment while maintaining strict attention to detail.
- Ability to problem-solve and multi-task effectively.
- Demonstrated ability to identify errors, problems and opportunities.
- Proven ability to meet daily and monthly deliverables.
- Independent thinker
- Excellent communication and teamwork skills.
- Advanced proficiency with Microsoft Office suite, with advanced working knowledge of Excel.
Key skills/competency
- Statutory Accounting
- GAAP Reporting
- Investment Portfolio
- Reinsurance
- Financial Statements
- US GAAP
- NAIC Guidelines
- Financial Models
- Microsoft Excel
- Analytical Skills
Skills & topics
- Assistant Controller
- VP Finance
- Finance
- Accounting
- Reinsurance
- Statutory Accounting
- US GAAP
- Investment Accounting
- Financial Reporting
- Life Insurance
- Annuity Insurance
- CPA
- Excel
- Financial Analysis
How to get hired
- Tailor your resume: Highlight your experience with US GAAP, statutory accounting, and reinsurance, especially for life and annuity insurance.
- Showcase relevant skills: Emphasize your proficiency in financial statement preparation, investment accounting, and advanced Excel skills.
- Demonstrate analytical ability: Prepare to discuss your experience with problem-solving, attention to detail, and working in deadline-driven environments.
- Understand the industry: Research Converge RE's focus on life and annuity reinsurance and Lightstone's real estate investment strategy.
- Prepare for behavioral questions: Be ready to provide examples of your independent thinking, teamwork, and ability to manage multiple deliverables.
Technical preparation
Master US GAAP and NAIC statutory accounting rules.,Practice statutory investment accounting for insurers.,Develop advanced Excel skills for financial modeling.,Review general ledger and financial statement preparation.
Behavioral questions
Demonstrate ability to solve complex accounting problems.,Showcase strong organizational skills and attention to detail.,Provide examples of effective teamwork and communication.,Discuss experiences managing multiple deadlines.
Frequently asked questions
- What is the primary focus of Converge RE and this Assistant Controller, VP - Finance role?
- Converge RE focuses on providing reinsurance to life and annuity insurers, leveraging Lightstone's real estate asset management. This Assistant Controller, VP - Finance role is crucial for strengthening their statutory accounting and reporting infrastructure, managing investment portfolios, and supporting new business initiatives.
- What specific accounting experience is most valuable for the Assistant Controller, VP - Finance position at Converge RE?
- The most valuable experience includes a strong understanding of US GAAP and Statutory accounting, particularly for insurance investments. Experience with reinsurance customer accounting, financial statement preparation (including GAAP & STAT), and investment accounting under U.S. GAAP regulations is highly preferred.
- Does Converge RE require a CPA for the Assistant Controller, VP - Finance role?
- While a CPA is preferred for the Assistant Controller, VP - Finance position, it is not strictly required. The role emphasizes a Bachelor's or Master's degree in Accounting or Finance, 5+ years of relevant experience, and a strong understanding of US GAAP and Statutory accounting principles.
- How important is experience with investment accounting for this role?
- Experience with investment accounting, especially statutory investment accounting for insurance invested assets (including fixed income), is a key requirement. You will be responsible for understanding and preparing the proper treatment of the company's investment portfolio.
- What kind of financial projections and forecasts will the Assistant Controller, VP - Finance be involved with?
- The Assistant Controller, VP - Finance will lead the company's initiatives with forecasting and projections for new business deals. This also includes working closely with the investment management team on understanding investments and preparing forecasts, budgets, and other ad hoc requests.
- What are the key qualifications for the Assistant Controller, VP - Finance role at Converge RE?
- Key qualifications include a Bachelor's or Master's degree in Accounting or Finance, 5+ years of relevant experience (reinsurance preferred), strong knowledge of US GAAP and Statutory accounting, proficiency in Excel, and excellent analytical and communication skills.