Accounting/Finance/Treasury/Tax - Newark (NJ), NJ Vice President, Accounting Policy
About the position
This position will report to the Chief Accountant of Accounting Policy. The Corporate Accounting Policy function is primarily charged with:
- Ensuring Prudential’s accounting policies are documented and compliant with US GAAP and STAT reporting requirements.
- Proactively partnering with business units to identify and resolve US GAAP/STAT accounting issues arising from new products and significant transactions.
- Tracking FASB and NAIC projects, proposed and final standards. Coordinating lobbying activities with standard setters (FASB, SEC, NAIC) and writing comment letters as needed.
- Coordinating the implementation of new accounting standards.
- Presenting training curriculum to Finance associates on technical accounting matters and preparing material for such training sessions.
Candidates for the open position will lead a team responsible for addressing technical accounting and reporting related questions associated with new asset management arrangements, new insurance general account investments, new and complex financing arrangements and strategic acquisitions/divestitures. The candidate will be responsible for producing summaries of technical accounting matters for finance and senior business management.
More specifically, the Vice President will lead a team responsible for the following tasks:
- Research, resolve, and document accounting policies and accounting policy issues (GAAP and STAT). Focus will include accounting for investments in debt and equity securities, equity method accounting, consolidations, business combinations, embedded derivatives, revenue recognition policies for asset management fees and accounting for limited partnership interests.
- Oversee and coordinate the implementation of new accounting standards
- Support quarterly financial reporting requirements (SEC, GAAP, STAT)
- Work with the Accounting Policy Chief Accountant and business management on certain strategic initiatives, including acquisitions and divestitures
- Liaise with Asset Management businesses in researching and resolving accounting policy issues; review and provide comments on accounting memoranda drafted by the Asset Management business
- Coordinate the production of the Accounting Policy newsletter
- Assist with the maintenance of accounting policy related SOX controls
Undergraduate degree in accounting is required. MBA is a plus
CPA or foreign equivalent strongly preferred. Big Four experience is a plus
Minimum of 10 years of relevant experience
- Strong interpersonal and communication skills (oral and written) including the ability to explain complicated technical accounting and reporting matters to non-subject matter experts
- Experience with analyzing highly complicated transactions
- Track record of effective collaboration with senior business and corporate finance leaders
Strong working knowledge of GAAP/STAT accounting rules (including Purchase GAAP) and experience in resolving and documenting technical issues related to investments and Asset Management arrangements (consolidation rules, CECL, investment income recognition etc.)
Ability to manage a talented team of technical experts
Strong analytical, project management and organizational skills
Ability to manage multiple projects under tight time constraints
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at firstname.lastname@example.org for more information about doing business with Prudential.