Investment Accounting and Benefit Finance Speciali...

RESPONSIBILITIES:

Investment Accounting: Manage all aspects of the investment accounting function, internal controls, and processes that impact investment results reported and disclosed in the financial statements.  Create a control environment that ensures that all standards are met, that the SLA is enforced, and that we are in compliance with all current and future regulatory requirements.

This position is the functional expert for all investment accounting matters and is responsible for the accounting of approximately $6 billion of assets. This person is required to be knowledgeable of current investment accounting STAT, GAAP and DOI requirements and trends and be able to analyze and provide recommendations to senior management on alternatives.

Carry out the investment accounting and reporting function in an accurate and timely manner, for CSAA and related entities.  This includes managing the outsourcing vendor State Street, located in Kansas City, MO (SSKC), external investment managers, and the custodial bank.  The Investment Accounting Manager anticipates and responds to questions and deliverables required by internal customers, auditors, regulators and other outside agencies.  Interpret Statutory Accounting Principles (SAP), Generally Accepted Accounting Principles (GAAP) and other current regulations to ensure CSAA is in full compliance.  Interface with Financial Reporting to coordinate implementation of new accounting pronouncements, annual audit, regulatory filings, and monthly closings.  In addition, support the development of budgets and forecasts.  Manage and direct the custodial tasks performed by the custodial bank.

Benefit Finance: Be the technical accounting expert for, and provide high level and complex financial analysis of, CSAA benefits, including the Pension Plan, AutoSave Plan, Medical Plan, and certain executive plans. Total liabilities under these plans exceed $1 billion.  Responsibilities include; performing high level and complex financial analysis of alternative benefit financing vehicles (COLI, TOLI, etc); managing Buck (plan actuary) to ensure that  financial assumptions used for valuations are accurate, on time, consistent with senior management’s economic outlook, and reflect senior management’s decisions regarding location changes;  providing high level financial and technical accounting support to P&P and F, P&A to  ensure they understand the implications of alternative benefit strategies and to improve the accuracy and understanding of  Benefit expense and liabilities on the  Budget(s).  This position will become the functional expert for all benefit finance related matters.

AutoSave Investments:  Monitor investment performance and insure regulatory compliance. Using advanced analytical and statistical techniques ensure that investment managers are performing within tolerance levels as defined by the "Manager Retention Policy" described to the Board; have a deep understanding of each manager’s strategy and how it is changing with current economic conditions; synthesize investment thesis for Senior Management and the Benefits Leadership Team.  Manage relationship with external consultants with respect to 401(k) activities.

The Investment Accounting Managers time and effort is allocated into three categories.

*Investment Accounting and Reporting  - 50%

*Custody Support and Management – 10%

*Benefit Finance-20%

*AutoSave Investment Monitoring-20%

PRINCIPAL DUTIES:.

*Investment Accounting and Reporting

Responsible for the end-to-end investment accounting process outsourced to SSKC.  

*Oversee the SSKC process to ensure the investment accounting and reporting function is performed as specified.  See the Service Level Agreement (SLA) and operating procedures attached for specifics. .

*Manage the ongoing SSKC relationship by providing vendor ongoing direction and feedback. .

*Create control environment; as appropriate, move towards SOX

*monitor SLA to ensure standards are met; review SSKC SAS 70

*approve transactions or provide direction as required

*monthly operational review meeting

*annual performance review

*setting annual improvement goals 

*Serve as the investment accounting and reporting subject matter expert for Cash, Investments, and external clients. .

*Serve as a the single point of contact for SSKC and Cash and Investment to ensure requests, information, issues or analysis is provided within deadlines or agreed upon timelines. .

*Responsible for delivering analysis that supports unusual fluctuations and variances.  This position will utilize SSKC and investment tools & technology to perform investment analysis. . 

*Maintain process and procedures flows to support the accounting, reporting and internal control environment

Custody Support and Management:

Manage and direct the custodial tasks performed by the custodial bank.  The custodian is responsible for accounting, reporting and reconciling investment amounts and balances to each investment manager and adjustments completed on a timely basis.  This position is responsible for providing the custodian written directions as required, e.g. open and close accounts, approve unusual transactions, apply class action proceeds.  The Investment Accounting Manager will perform quarterly performance reviews with the custodian to ensure compliance with internal standards, the SLA, and that the trustee’s SAS 70 meets our requirements.

REQUIRED QUALIFICATIONS:
* 5-7 years of progressive working experience in highly complex or technical accounting areas such as: Public Accounting / Auditing, Investments, Capital Markets, Employee Benefits etc.
* Experience with complex systems including PeopleSoft and PAM
* Must have advanced Excel skills

* Must be willing to learn:

- SAP and GAAP, especially as they are related to investments and benefits

- NAIC and DOI regulations and requirements

- Investment and asset classes e.g. stocks, REITS, mortgage backs, CMO’S, FNMA, mutual funds, index funds.
* Must have excellent team and collaborative skills
* Excellent verbal, presentation and written communication skills
* Demonstrated leadership experience required.
* Professional demeanor with ability to interact with employees, vendors and management.  Strong interpersonal and inter-departmental skills.
* Detailed oriented takes analytical approach to solving problems.
* Productive contributor with minimum instruction on day-to-day duties.
* Solution oriented.
* Action oriented and committed to meeting deadlines. 
* Strong understanding of CSAA business strategy.