Company: | The Guardian Life Insurance Company of America |
Job Category: | Accounting/Finance/Insurance |
Location: | New York, NY |
Job Title: | Manager, Financial Reporting & Budget Analysis |
Website: | http://glic.com/ |
Manager, Financial Reporting & Budget Analysis
Manage all aspects of expenses for the Individual Life Profit Center. This includes: developing annual budgets, monitoring and control over actual expenses, disbursement and commitment policy, analysis and management / regulatory reporting, expense studies (pricing and benchmarking unit costs), allocations, liaison with other units (procurement, actuarial, corporate budget/expense) and elements of financial planning.
Principal Accountabilities:
• Develop budget and financial plan for Individual Life divisions. Review of actual vs. budget results each quarter for statutory, GAAP and Economic Value Added reports. Prepare variance analysis, reforecast and budget modifications. Develop complete reconciliation of expense accounts including both balance sheet and income statement accounts. Review method of allocation of expenses, including shared costs and monitor budget to actual for all projects (initiatives and others).
• Establish workflow for expense related General Ledger activities. Coordinate expense training for PeopleSoft and Clarity systems. Monitor automatic FAS feeds to PeopleSoft. Develop and maintain spreadsheet uploads and desk procedures for expense related general ledger activity. Work on FAS (commission system) integration, including validating data testing and automated interfaces to general ledger
• Management reporting, including analysis and scenario testing, for Individual Life profit center in order to effectively manage expense levels. Monitor actual expenses, the validity of accruals and allocations. Monitor implementation of findings of internal and external audits of Individual Life divisions related to expenses. Act as a liaison with outside auditors and regulators for expense related issues. Responsible for implementing disbursement and commitment policy within profit center. Act as liaison with procurement, contracting and BEACON team for control related issues. Act as liaison with Life actuaries for regulatory reporting, cash flow testing data. Act as liaison with IL BTS unit for expense and project related work.
• Supervise and motivate staff. Develop their understanding of financial reporting and expense allocations.
• Develop and maintain various internal and external expense studies to benchmark Individual Life expense levels. Extend current use of unit costing to allow for performance based evaluations of operations staff. Monitor experience studies vs. pricing and dividend assumptions.
Requirements:
• Must have 5-7 years, with at least 2 years in Accounting
• Bachelor’s degree in Accounting required, MBA (Finance) a plus
• Professional designations (CPA) or industry designations (FLMI, CLU, ChFC) a plus
• Excellent PC skills (Clarity, PeopleSoft, Excel and Word)
• Previous supervisory experience
• Thorough knowledge of insurance products and accounting
• Familiarity with Guardian budget system a plus
Overtime required during financial closes and budgets.