Director Investment Accounting & Reporting

** Company :*
* Highmark Health

** Job Description :*
* JOB SUMMARY

This job conducts management and technical oversight of the Investment Accounting and Reporting business unit/function for the Organization and all subsidiary and affiliate companies. Manages a professional staff of investment accountants whose activities are concerned with the accounting, reporting, and consolidation of a wide range of asset classes involving various degrees of complexity within U.S. GAAP and Statutory Accounting Principles (SAP) framework to form the basis of the Organization and affiliated companies publicly disclosed financial information.

Assesses the current accounting landscape, develops strategies to incorporate evolving pronouncements, proactively evaluates system processes and procedures to minimize risk, develops sound accounting and investment system controls, and implements best practices designed to drive the business unit forward. Establishes business unit goals to align with Treasury and Enterprise objectives and to advance the overall Enterprise mission, vision, and values. Maintains effective relationships with internal/external customers and vendors, specifically investment accounting system vendor services, to ensure the continued accuracy and timeliness of various reporting responsibilities pertaining to the investment portfolios.

Ensures compliance of all internal control procedures and review and issuance of all Organization and affiliates' audit reports and required regulatory filings as they relate to investments.

** ESSENTIAL RESPONSIBILITIES*
* + Perform management responsibilities including, but not limited to: involved in hiring and termination decisions, coaching and development, rewards and recognition, performance management and staff productivity.

+ Plan, organize, staff, direct and control the day-to-day operations of the department; develops and implements policies and programs as necessary; may have budgetary responsibility and authority.

+ Direct and oversee the Investment Accounting & Reporting business unit in the reporting of timely and accurate monthly investment results, including income, assets, and equity/surplus impacts for the Organization and all subsidiary/affiliates. This includes, but is not limited to, managing the monthly close cycle on the investment accounting system for both GAAP and Statutory Reporting with a strong focus on enhanced analytics and analysis.

Cultivate strong relationships with business partners to develop an understanding of the business needs and provide meaningful analytical support.

+ Direct and oversee the internal/external financial reporting and income analysis on investment portfolios for the Organization and all affiliate companies in accordance with GAAP and Statutory Accounting Principles. This includes, but is not limited to, determine the proper reporting of complex investment transactions and financial statement impact, determine departmental resources needed to effectively implement new accounting rules/methodologies, and communicate results and impact to senior management.

Conceptualize opportunities to optimize functionality with the investment accounting system to streamline reporting and provide value-added analysis.

+ Responsible for the regulatory compliance of investment schedules for quarterly and annual regulatory reports, external rating agency reports, and monthly management level reports for the Organizationand all affiliates. This includes, but is not limited to, develop, promote, and maintain a strong control environment in accordance with GAAP, Statutory Reporting, and Model Audit Rule. This requires staying abreast of all Investment related schedules as well as the relationships/dependencies to the overall reporting packages.

Accountable for the completion and accuracy of all investment related tables and schedules for GAAP and Statutory audited financial statements and effectively manage relationships with internal and external auditors.

+ Stay abreast of new accounting pronouncements, capital markets, and industry standards. Responsibilities include, but are not limited to communicate with senior management and key stakeholders within the organization to optimize opportunities as well as determine risks and exposures. Responsibilities include, but are not limited to, partner with various business unit leaders, such as Financial Reporting, Tax, and Portfolio Managers, to understand business impacts/needs and effectively implement new standards/pronouncements.

+ Evaluate and determine Clearwater system process enhancements to plan for growth, new asset classes/accounting pronouncements, and system upgrades. Identify new capabilities/opportunities and evaluate functionality against cost and potential risk. This includes staying abreast of methodologies used in performing various investment calculations and the inter-dependencies of security master file set up and system calculated results, development of complex system extracts using…