Full-Time

Avp – Derivative Accounting

Updated on 5/17/2024

Global Atlantic

1,001-5,000 employees

Provides life insurance and annuity products

Financial Services

Compensation Overview

$102,500 - $195,500Annually

+ Annual Cash Bonuses + Long-Term Incentives + Sales Incentives

Senior, Expert

Hartford, CT, USA

Requirements

Bachelor’s degree in accounting or finance
5-12 years of relevant experience
Experience in Investment Accounting and/or Investment/Treasury Operations for derivatives
Experience in insurance company Investment GAAP and Statutory reporting and/or Treasury accounting
Experience in successful process redesign from system enhancements and conversion
Familiarity with investment accounting systems (Clearwater)
Pro-active, detail oriented, deadline driven
Results oriented, flexible, self-motivated
Solid written and oral communication skills
Proven ability to successfully manage competing priorities and multiple deliverables

Responsibilities

Managing monthly reconciliations for derivatives
Supporting review and completion of derivative footnotes and NAIC schedules
Executing process re-design for hedging strategies
Partnering with investment office for new hedging strategies
Engaging with TPAs supporting hedge accounting
Supporting external auditors on derivative matters
Performing control functions in compliance with regulations
Performing ad hoc analysis and special projects

COMPANY OVERVIEW

Global Atlantic Financial Group is a leader in the U.S. life insurance and annuity industry, serving the needs of individuals and institutions. Global Atlantic is a wholly-owned subsidiary of KKR, a leading global investment firm that offers alternative asset management across multiple strategies and capital markets solutions.

We are looking for a diverse team of talented individuals who reinforce our culture of collaboration and innovation. We are dedicated to the career development of our people because we know they are critical to our long-term success. Join our team and come grow with us.

The KKR-Global Atlantic partnership - The Global Atlantic Story

Greenhouse is our scheduling tool and we communicate through their systems. At times, your email may block our communications. Please be sure to check your SPAM so that you do not miss critical information about our process, including scheduling.

Position Summary:

Global Atlantic is seeking a candidate to manage the operational accounting for derivatives across our various insurance subsidiaries, which entails ensuring the accuracy of the investment results across various hedging strategies on a GAAP, STAT and in our reinsurance sidecars, ensuring appropriate operational set up and maintenance of hedge documentation and supporting the investment office in the execution of various hedging strategies. This position will also support continued process enhancements and redesign that produces timely, accurate and complete investment accounting results in an efficient manner on a GAAP and STAT basis. All candidates must, in addition to possessing the specific qualifications cited below, work well within a complex, fast-paced, fluid environment, and strong organizational and interpersonal skills.

This is a hybrid role based in our Hartford, CT New York, NY or Boston, MA locations.

Responsibilities include, but are not limited to:

Responsible for managing monthly reconciliations between the subledger and trading system for derivatives ensuring the accuracy of the financial statement results as it relates to derivatives.
Support the review, accuracy, and timely completion of 10Q/K derivative footnotes and NAIC schedules.
Execute on process re-design as a result of the increase in our hedging strategies.
Partner with the investment office to support new hedging strategies in collaboration with Accounting Policy to ensure execution of these results in appropriate GAAP, STAT and reinsurance accounting and reporting for derivatives.
Responsible for the partnership with Investment Middle Office on design of operational processes in the subledger that support the derivative accounting.
Engage with TPAs supporting hedge accounting and certain hedging strategies.
Responsible for the execution of processes and checks that support hedge accounting.
Support external auditors on all derivative related matters.
Perform control functions in compliance with Sarbanes-Oxley Section 404 and NAIC Model Audit Rule.
Perform frequent ad hoc analysis and assist with special projects, as requested.

Candidate Qualifications:

Bachelor’s degree in accounting or finance.
5-12 years of relevant experience.
Experience in Investment Accounting and/or Investment/Treasury Operations for derivatives with a foundational understanding of the upstream processes and impacts to downstream accounting and reporting.
Experience in insurance company Investment GAAP and Statutory reporting and/or Treasury accounting helpful.
Experience in successful process redesign from system enhancements and conversion.
Commitment to lean principles while maintaining a strong Controls environment.
Familiarity with investment accounting systems (Clearwater) helpful.
Pro-active, detail oriented, deadline driven; possess excellent documentation and analytical skills.
Results oriented, flexible, self-motivated, and able to work in a team environment with limited direct supervision.

Solid written and oral communication skills.
Proven ability to successfully manage competing priorities and multiple deliverables.

#LI-LP1

#LI-Hybrid

Various jurisdictions have passed pay transparency laws that require companies provide salary ranges for any positions for which they are accepting applications. Global Atlantic has offices in Atlanta, Batesville, Bermuda, Boston, Des Moines, Hartford, Indianapolis, and New York City. The base salary range posted below is inclusive of the lowest cost of living geography to the highest in which we have a Global Atlantic office.

Global Atlantic’s base salary range is determined through an analysis of similar positions in the external labor market. Base pay is just one component of Global Atlantic’s total compensation package for employees and at times we hire outside the boundaries of the salary range. Other rewards may include annual cash bonuses, long-term incentives (equity), generous benefits (including immediate vesting on employee contributions to a 401(k), as well as a company match on your contributions), and sales incentives. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer. Compensation for our more senior positions have a larger component of short-term cash bonus and long-term incentives.

The base salary range for this role is

$102,500—$195,500 USD

Global Atlantic reserves the right to modify the qualifications and requirements for this position to accommodate business needs and regulatory changes. Future adjustments may include obtaining specific licenses or certifications to comply with operational needs and conform to applicable industry-specific regulatory requirements, state and federal laws.

TOTAL REWARDS STATEMENT

Global Atlantic’s total rewards package is reflective of our corporate values, particularly diversity, excellence and innovation, with a focus on inclusion, pay equity, and flexibility. We are proud to support your personal and professional growth and well-being through programs such as educational assistance, virtual physical therapy, remote/onsite fitness reimbursement, a medical second opinion program, pet insurance, military leave, parental leave, adoption assistance, fertility and family planning coverage. We strive to foster a culture of total well-being through community outreach and charitable giving programs.

We are active in our communities-

New York: StreetWise Partners, Covenant House, Partnership for New York City, City Meals on Wheels, Habitat for Humanity, Billion Oyster Project
Boston: Cradles to Crayons, Boston’s Healthcare for the Homeless, Thompson Island Outward Bound, Rosie’s Place, Catie’s Closet, Project Bread, Rise Against Hunger, Space to Thrive
Hartford: Junior Achievement, Habitat for Humanity, Oliver’s Pajama, United Way
Indianapolis: Elevate Indianapolis, Gleaners Food Bank and the Juvenile Diabetes Research Foundation
Batesville: So Loved Ripley County Foster Closet, Safe Passage Family Shelter, YES Home Juvenile Rehabilitation, Ripley County Community Foundation
Des Moines: United Way of Central Iowa, Meals from the Heartland, Junior Achievement, Math Motivators, Bidwell Riverside, Orchard Place, Knock and Drop
Berwyn/Wayne: Habitat for Humanity, Chester County Food Bank, Surrey Services, For Pete’s Sake Respite
Bermuda: Keep Bermuda Beautiful, Center Against Abuse, Truck Island Nature Reserve, Bermuda Economic Development Corporation

Social platforms provide an environment to collaborate with others and participate in friendly competitions towards achieving physical, emotional and financial well-being. Our highly competitive health, retirement, life and disability plans can be tailored to best suit your needs and those of your whole family.

Global Atlantic is committed to creating an inclusive environment where everyone can meaningfully contribute to our success. We are proud to be an equal opportunity employer and we do not discriminate in employment on any basis that is prohibited by federal, state or local laws. More than that, we strive to be inclusive of all backgrounds and experiences, which we feel gives us a competitive advantage in the market and within our firm. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, disability, age, or veteran status.

Employees who require an accommodation to perform the essential functions of their job will participate in an interactive process which may include providing documentation. If you are hired and require an accommodation for any protected status, please email [email protected].

Please click on the links below to learn more about Global Atlantic.

Global Atlantic Privacy Statement

Our employees are in the office 4 or 5 days a week in Hudson Yards, NY and 3 days a week in all other offices. If you have questions on this policy or the application process, please contact [email protected].

Global Atlantic

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Global Atlantic Financial Group specializes in providing life insurance and annuity products that aid individuals and institutions in accomplishing their financial objectives. By focusing on investment and risk management expertise, the company helps clients secure stable retirement planning, manage long-term care expenses, and craft legacies. This commitment to tailored financial solutions supports a visionary workplace environment, making it an attractive employer for professionals aiming to impact financial security and innovation in the insurance industry.

Company Stage

Private

Total Funding

$1B

Headquarters

New York, New York

Founded

2004

Growth & Insights

Headcount

6 month growth

↑ 5%

1 year growth

↑ 11%

2 year growth

↑ 32%