Director - Financial Reporting - Prudential - Newark

Job description
Director, Statutory Finance Unit (Corporate)
This Director position is in the Statutory Finance Unit as part of the Corporate Controllers Department within Financial Management.
At the corporate level, the Director is responsible for coordination and directing the production of the Regulatory (Statutory) financial statements for the certain domestic insurance subsidiaries of the Company.
These responsibilities include:

Coordinate the production and preparation of the various quarterly and annual statutory financial statements, which are filed with each state insurance department and the National Association of Insurance Commissioners (NAIC). In addition work with auditors (PwC) closely in the preparation of the annual audited financial statement process;
In conjunction with more senior management and sometimes with the Accounting Policy Unit, responsible for interpreting, establishing, communicating, and directing the implementation of statutory accounting policy to the enterprise;
Responsible for writing and coordinating the writing and preparation of variance analysis on statutory statement results, which is used to compile the Statutory MD&A (Management’s Discussion & Analysis) and other internal/external analysis, as well as presentations on statutory results for senior officers and subsidiary board meetings;
Implement and monitor/test key controls for the Corporate Stat Reporting process, as part of the Company’s Management’s Report on internal controls per the NAIC’s Model Audit Rule requirement;
Prepare Company responses to letters from various State and other regulators asking about certain variances, etc. within the Statutory Financial Statements (usually quarterly for each Co.);
Assist with the coordination of the ongoing maintenance of the statutory statement Oracle reports that support most statutory statement pages, exhibits, and schedules. Work with EFIS to create and improve statutory reports as appropriate; and
Developing close work contacts with peers in each of the applicable profit center accounting and actuarial areas, the system area (EFIS), the Tax Department, Investment Reporting (ALM), Operations, Corp. Accounting Policy, Treasurers, and the Corporate Actuarial Unit.

This Director position works closely with the other Directors in the Unit on various ongoing issues and reports to the Vice President in he Unit. The responsibilities of the other Directors in the Unit include similar statutory accounting and reporting responsibilities for other specific insurance companies, forecasting, risk-based capital (RBC) calculation, NAIC and State Insurance Department communication and liaison, state insurance department financial compliance, state financial examination coordination, and assisting with Management’s Report of Internal Controls for Statutory Reporting (as per the NAIC’s Model Audit Rule).

This Director has a staff of approximately five people.

Desired Skills and Experience
Four-year college degree required in either accounting or finance;
MBA and/or CPA a plus;
Eight to twelve plus years experience in accounting and financial reporting in a large financial services company, preferably in an insurance company;
Statutory accounting and reporting experience very helpful;
Supervisory experience, preferably with a group;
Strong interpersonal skills;
Excellent written and verbal communication skills, including experience in writing analysis on financial results (income statement) and preparing an MD&A;
Strong working knowledge of Microsoft Word and Excel required;
Extensive knowledge of Oracle general ledger system or other major ledger system required;
Overtime is required during peak periods throughout the year (on the quarters), especially during the year-end close process (January and February).

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