Executive Director, Qualified Derivative Accounting

You desire impactful work.
 

You’re RGA ready

RGA is a purpose-driven organization working to solve today’s challenges through innovation and collaboration. A Fortune 500 Company and listed among its World’s Most Admired Companies, we’re the only global reinsurance company to focus primarily on life- and health-related solutions. Join our multinational team of intelligent, motivated, and collaborative people, and help us make financial protection accessible to all.

The Executive Director Qualified Hedge & Derivative Accounting  is responsible for developing and maintaining hedge accounting practices across the organization. This requires assessing system capability, writing accounting specifications and testing plans, assisting IT in implementation and user acceptance testing, and delivering ready-to-use accounting solutions in Findur and other supporting systems. It also involves prototyping solutions and providing training on new methodologies.

Responsibilities

• Manage derivative accounting for qualified derivatives and appropriately achieve qualified hedge accounting on cash flow hedges, fair value hedges and on net investment in foreign operations.

• Analyze and run hedge effectiveness testing for prospective and active qualified hedges

• Set up new qualified hedging strategies in derivative system and document Hedge Designation Memos for new qualified strategies

• Develop new monitoring system of bond cash flow hedging

• Support risk committee reporting for derivatives

• Perform primary testing of new hedging structures/tables/accounting used in new qualified hedging strategies

• Assist in developing new tools and processes to support accounting needs including derivative positions and their adjustments to other parts of the balance sheet or income statement.

• Develop accounting infrastructure and processes to incorporate current and evolving derivative strategies

• Provide training support for newly developed system tools, accounting rules, use of hedge accounting module, and other new related tools

• Contribute to new deal process including supporting new instrument types, currencies, and hedge accounting methodologies

• Establish, monitor and ensure integrity of data and reports, quality goals, ensuring quality Investment Accounting practices and communication to associates and management.

Requirements

Education and Experience

Required:      

• Bachelor’s Degree in Accounting/Finance or equivalent related work experience

• 10+ years accounting or auditing experience w/ derivative accounting experience and advanced experience in GAAP accounting

• 5+ years management experience

Preferred:      

• Master’s Degree
• CPA certification
• Progress towards FLMI or CFA Charter
• 5+ years insurance/reinsurance or financial services accounting experience

Skills and Abilities

Required:

• Must have proven qualified hedge accounting experience

• 10+ years insurance accounting, auditing, investment or derivative accounting experience

• Strong knowledge of derivative instruments including structure of cashflows and usage cases and experience accounting for them

• Independent project management or system management skills

• Strong foundation in accounting theory and practices with the ability to learn and apply key principles quickly

• Highly motivated self-starter who takes great pride in solving problems, testing results and providing feedback to resolve immediate and strategic issues

• Demonstrated ability to deal effectively with complex business scenarios

• Ability to quickly adapt to new methods, work under tight deadlines and stressful conditions

• Strong business knowledge including broad investments business practices

• Excellent written, oral and communication skills,

• Advanced ability to translate business needs into viable solutions

• Ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines

• Organized person capable of balancing multiple projects and shifting priorities.

• Good negotiation and persuasion skills

• Advanced Word and Excel skills

Preferred:

• Experience as client facing consultant/professional

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What you can expect from RGA:

• Gain valuable knowledg