What are the responsibilities and job description for the Director, Accounting Policy position at Group 1001?
Group 1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001’s culture emphasizes the importance of collaboration, communication, core business focus, risk management, and striving for outcomes. This goal extends to how we hire and onboard our most valuable assets – our employees.
Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals. All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.
Job Summary:
The Finance Department is currently seeking a Director, Accounting Policy to develop and maintain the accounting policies and procedures for Group 1001’s Life and Annuity business unit. The Director, Accounting Policy will ensure compliance with accounting standards and regulations, provide guidance on complex accounting issues, draft technical accounting memos, complete pro forma analysis, and monitor changes in accounting regulations that may impact the organization.
The Director, Accounting Policy will be an individual contributor who will also assist the Financial Reporting team with external reporting deliverables as necessary. This role primarily supports the Life & Annuity business but may also support Group 1001’s other business units as needed.
Main Accountabilities:
Employees who meet benefit eligibility guidelines and work 30 hours or more weekly, have the ability to enroll in Group 1001’s benefits package. Employees (and their families) are eligible to participate in the Company’s comprehensive health, dental, and vision insurance plan options. Employees are also eligible for Basic and Supplemental Life Insurance, Short and Long-Term Disability, and to enroll in the Company’s Employee Assistance Program and other wellness initiatives. Employees may also participate in the Company’s 401K plan, with matching contributions by the Company.
Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals. All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.
Job Summary:
The Finance Department is currently seeking a Director, Accounting Policy to develop and maintain the accounting policies and procedures for Group 1001’s Life and Annuity business unit. The Director, Accounting Policy will ensure compliance with accounting standards and regulations, provide guidance on complex accounting issues, draft technical accounting memos, complete pro forma analysis, and monitor changes in accounting regulations that may impact the organization.
The Director, Accounting Policy will be an individual contributor who will also assist the Financial Reporting team with external reporting deliverables as necessary. This role primarily supports the Life & Annuity business but may also support Group 1001’s other business units as needed.
Main Accountabilities:
- Develop and implement accounting policies and procedures to ensure compliance with applicable accounting standards and regulations.
- Monitor changes in accounting regulations and standards and assess their impact on the organization's financial reporting.
- Draft technical accounting memos summarizing the Company’s accounting positions
- Provide guidance and support to finance and accounting leadership via pro forma analysis on complex accounting issues, including reinsurance and other proposed business transactions for both GAAP and Statutory accounting.
- Lead the evaluation and implementation of new accounting standards, ensuring timely adoption and compliance.
- Collaborate with external auditors to address and resolve accounting issues and provide necessary documentation.
- Stay updated on industry trends and best practices related to accounting policies and procedures, and recommend appropriate changes or enhancements as needed.
- Assist in the preparation of financial statements and disclosures, ensuring accuracy and compliance with accounting standards and regulations.
- Bachelor’s degree in accounting required
- CPA certification required
- 10 years of experience in the insurance industry, including a strong understanding of statutory accounting
- Must have strong technical accounting research background
- Ability to clearly summarize technical accounting positions both in writing and verbally
- Public accounting experience a plus
- Proven track record of working with cross-functional business leaders to achieve challenging objectives
- Ability to work independently in ambiguous situations and take the necessary steps to validate assumptions
- Ability to quickly establish rapport and gain the trust of project stakeholders
Employees who meet benefit eligibility guidelines and work 30 hours or more weekly, have the ability to enroll in Group 1001’s benefits package. Employees (and their families) are eligible to participate in the Company’s comprehensive health, dental, and vision insurance plan options. Employees are also eligible for Basic and Supplemental Life Insurance, Short and Long-Term Disability, and to enroll in the Company’s Employee Assistance Program and other wellness initiatives. Employees may also participate in the Company’s 401K plan, with matching contributions by the Company.
