VP Finance & Statutory Accounting

A Day in the Life

The VP Finance & Statutory Accounting is the senior financial officer of the annuity carrier platform during its formation and early operating phase. This is a combined role — intentionally designed to consolidate functions that would ultimately be separated across a Controller, a VP of Financial Reporting, and a VP of Financial Planning & Analysis as the carrier reaches scale. In the startup phase, one senior leader must own them all.

The VP of Finance & Statutory Accounting will build the carrier’s financial infrastructure from the ground up: establishing the statutory reporting framework, implementing the chart of accounts, executing the Net Suite–Equisoft integration, managing the purchase accounting process for the acquired shell, coordinating with the appointed actuary on reserves and capital, and producing the first statutory financial statements filed with the domiciliary state regulator.

This role requires a practitioner who understands the fundamental difference between statutory accounting principles (SAP) and GAAP — and who has operated within a life or annuity carrier’s finance function, not just alongside one.

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The Company is a newly formed annuity carrier operating within the following confirmed financial and operational status:

• Shell acquisition and redomestication in process
• Capital contributed;
  Investment Policy Statement in place
• Board and Finance/Audit Committee chartered
• Accounting system:
  Net Suite (integration to Equisoft PAS in progress)
• Policy Administration System:
  Equisoft
• Actuarial partner:
  Milliman (pricing, reserves, capital requirements)
• Outside accounting firm engaged for purchase accounting and tax
• Target product: MYGA (initial launch); FIA and RILA on development roadmap
• Reinsurance strategy in development

Reports to (interim):
Bridge Leader
Reports to (permanent): CFO or CEO, as organizational structure develops
Bridge Leader authority:
Master project workplan, overall carrier standup, vendor governance
VP Finance authority:
All financial reporting, statutory compliance, accounting operations, budget management
Milliman coordination:
Monthly reserve review, capital reporting, RBC calculation — VP Finance owns the financial integration of actuarial output
Outside accounting firm:
Purchase accounting, tax structuring, and audit — VP Finance is primary management liaison
Decision escalation:
Capital calls, reinsurance treaty financial terms, investment policy changes to bridge Leader and CEO

• Statutory Chart of Accounts:
  Design and implement a statutory chart of accounts in Net Suite aligned to NAIC Annual Statement requirements for a life and annuity carrier.
• Establish account mapping logic between Net Suite and Equisoft for automated GL posting.
• Net Suite–Equisoft Integration:
  Co‑own the accounting system integration with the VP of Operations. Define financial requirements, test GL posting logic, validate premium, commission, and reserve entries through first financial close.
• Purchase Accounting:
  Lead the financial accounting for the shell acquisition in coordination with the outside accounting firm. Manage purchase price allocation, opening balance sheet, and fair value adjustments for the existing carrier block. Ensure compliance with applicable GAAP and SAP purchase accounting standards.
• Statutory Reporting Framework:
  Establish the statutory reporting infrastructure required for NAIC Quarterly and Annual Statement filings, including the Actuarial Opinion Memorandum coordination with Milliman, risk‑based capital (RBC) calculation, and state premium tax returns.
• First Financial Close:
  Execute the first monthly close on a timetable consistent with regulatory…