Description

At LifeSecure, we are committed to delivering a range of innovative and accessible insurance solutions to protect our clients and their families from unexpected medical claims.  Our business is built on relationships, and we are looking to add to our team. We are seeking individuals that are looking to drive individual and company success, are passionate about the products we sell, and committed to building long-term, meaningful relationships.

The qualified candidate will be tasked with performing the accounting, reporting and analysis of the company’s investment portfolio in compliance with both Statutory Accounting Principles (SAP) and Generally Accepted Accounting Principles (GAAP). This individual will be responsible for leading the investment accounting operations, regulatory compliance, and financial reporting to support the organization’s fiduciary responsibilities to policyholders and regulatory authorities.  

This position is hybrid but has the potential of full remote for qualified candidates residing outside of Michigan.

Requirements

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Knowledge, Skills and Abilities Requirements:

• Knowledge of investment instruments and investment accounting principles
• Thorough knowledge and understanding of Statutory Accounting Principles (SAP) and Generally Accepted Accounting Principles (GAAP) as they apply to life insurance company investments
• Proficiency in financial modeling, accounting systems, investment management systems, database management and data analytic tools
• Understanding of fair accounting value, credit risk assessment, and asset-liability management principles with the insurance industry
• Excellent computer skills with proficiency in standard PC software, accounting applications and advanced Excel skills
• Knowledge of investment instruments and investment accounting principles
• Knowledge of insurance regulatory requirements, risk-based capital calculations, and solvency monitoring including NAIC Financial Analysis Tools
• Ability to work both independently and as part of a team
• Demonstrated ability to lead and drive initiatives through consensus- building for cross-functional initiatives
• Excellent analytical skills with relation to the analysis of functional business processes
• Strong analytical skills and problem-solving skills with the ability to organize and present information
• Excellent organizational skills with the ability to multi-task and react to changing needs and priorities
• Exceptional verbal and written communications skills, proven organization and attention to detail are required
• Experience in S&P Capital IQ Pro platform for financial analysis, market intelligence investment research, company screening and portfolio analytics is highly desirable

Duties:

• Prepare and review statutory financial statements in accordance with NAIC guidelines, including Schedule D (investment schedules), Schedule B (mortgages), Schedule BA (other long-term invested assets), and related investment reporting.
• Prepare GAAP financial statements for investments including monthly, quarterly, and annual reports with supporting documentation, analysis, and footnote disclosures for securities, bonds, mortgages, and alternative investments.
• Ensure compliance with state insurance regulations and NAIC Statutory Accounting Principles (SAP) for investment accounting, including proper classification, valuation, and reporting of admitted and non-admitted assets.
• Prepare responses to external questions including external auditor, DIFS and IRS inquiries
• Prepare footnote disclosure details for investments.
• Provide effective and efficient solutions to complex business problems.
• Coordinate with external auditor and state insurance regulators regarding investment-related inquiries, examinations, and regulatory filings including responses to Department of Insurance Financial Services (DIFS) requests.
• Utilize Clearwater Analytics for daily investment portfolio data aggregation, reconciliation, performance reporting, and compliance monitoring across multiple asset classes and accounting bases.
• Leverage software for investment research, financial modeling, peer analysis, and due diligence on potential investments and existing portfolio holdings.
• Oversee the calculation and reporting of Asset Valuation Reserve (AVR) and Interest Maintenance Reserve (IMR) in accordance with NAIC requirements for life insurance companies.
• Analyze investment performance, asset allocation, duration matching, and compliance with investment policy guidelines and regulatory requirements including risk-based capital calculations.
• Collaborate with the investment management team to ensure proper documentation of investment transactions, fair value measurements, and credit loss assessments under the current expected credit loss (CECL) model.

Certified Public Accountant designation or Chartered Financial Analyst (CFA) or other relevant certifications are highly desirable

The position requires knowledge of rapidly evolving accounting standards and regulatory requirements specific to the life insurance industry. The qualified candidate must stay current with NAIC developments, FASB pronouncements, and state insurance regulations. This position may involve confidential financial information and requires adherence to strict confidentiality standards.