Director of Derivative Accounting

Position Summary

Reporting to the Head of Investment Accounting & Reporting Director, the Director of Derivative Accounting is responsible for leading the accounting, reporting, and analysis of the Company's derivative portfolio. The role oversees compliance with U.S. GAAP, U.S. STAT, and RSTAT reporting requirements, with BSTAT knowledge considered a strong asset. In addition, the Director is responsible for the review of all investment-related schedules, supporting exhibits, and note disclosures included in quarterly and annual U.S. statutory filings, ensuring accuracy, completeness, and compliance with regulatory requirements. Experience with Clearwater Analytics and Oracle is preferred.

Key Responsibilities

• Lead accounting and reporting for complex derivative instruments, including swaps, options, futures, structured products, and foreign exchange contracts.
• Ensure compliance with U.S. GAAP, U.S. STAT, RSTAT, and applicable regulatory reporting requirements.
• Review derivative valuations, reconciliations, journal entries, disclosures, and financial statement reporting.
• Review and approve all investment-related schedules, exhibits, and note disclosures included in quarterly and annual U.S. STAT filings.
• Perform analytical review of statutory investment reporting and disclosures to ensure consistency, accuracy, and compliance with NAIC reporting requirements.
• Support BSTAT reporting and disclosures, where applicable.
• Prepare and present investment and derivative analytics to senior management, including portfolio performance, income trends, and risk exposures.
• Develop management reporting and dashboards to support strategic decision-making.
• Partner with Investment, Treasury, Actuarial, Risk, and Finance teams on significant transactions and reporting matters.
• Drive process improvements, automation initiatives, and enhancement of reporting controls.

 Qualifications

• CPA designation required.
• Bachelor's degree in Accounting, Finance, or related field.
• 7+ years of progressive experience in derivative accounting, hedge accounting, investment accounting, or financial reporting.
• Minimum 3 to 5 years of hands-on experience accounting for complex derivative instruments, including interest rate swaps, credit default swaps, total return swaps, options, futures, foreign currency derivatives, and structured products.
• Extensive experience applying ASC 815 (Derivatives and Hedging) and ASC 820 (Fair Value Measurement).
• Strong experience with U.S. GAAP and U.S. STAT reporting for derivative portfolios.
• Experience reviewing derivative valuations, collateral activity, effectiveness assessments, disclosures, and regulatory filings.
• Working knowledge of RSTAT reporting requirements; BSTAT experience preferred.
• Experience preparing, reviewing, and overseeing U.S. STAT investment schedules, annual statement disclosures, and regulatory filings for insurance and reinsurance entities.
• Experience within the insurance, reinsurance, or asset management industry strongly preferred.
• Experience with Clearwater Analytics, Oracle, and investment accounting platforms preferred.
• Demonstrated ability to analyze derivative portfolio results and present insights to senior management and executive leadership.

Preferred Attributes

• Strong leadership and stakeholder management skills.
• Strategic thinker with excellent problem-solving abilities.
• Proven ability to manage competing priorities and regulatory deadlines.

Focus on continuous improvement, automation