Senior Financial Reporting Associate

Prudential

(Newark, New Jersey)
Full Time
Job Posting Details
About Prudential
As one of the world’s largest financial services companies, Prudential’s individual and institutional customers rely on us to protect and grow their financial well being.
Summary
The Senior Financial Reporting Associate is responsible for assisting in the coordination and production of the Regulatory (Statutory) financial statements for certain domestic insurance subsidiaries of the Company.
Responsibilities
Assist with the coordination of 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). Work with our external auditors (PwC) closely in the preparation of the annual audited financial statements and notes to financials process. In addition to the coordination and of the audit process this individual may be heavily involved in the engagement and relationship management of PwC and our business partners throughout the year; Responsible for assisting with coordinating the writing and preparation of variance analysis on statutory statement results, which is used to compile the Statutory MD&A (Managements 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 Companys Managements Report on internal controls per the NAICs Model Audit Rule requirement; Assist with the preparation of 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 systems area (ESFS) to create and improve statutory reports as appropriate; Developing close work contacts with peers in each of the applicable profit center accounting and actuarial areas, ESFS, the Tax Department, Investment Reporting (ALM), Investment Operations, Corporate Accounting Policy, Treasurers, and the Corporate Actuarial Unit. This Senior Financial Reporting Associate position must work closely with their peers, Managers, and Directors in the Unit on various ongoing issues and reports to one of the Managers in the Unit. The responsibilities of the other Financial Reporting Specialists and Managers 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 Managements Report of Internal Controls for Statutory Reporting (as per the NAICs Model Audit Rule).
Ideal Candidate
* Bachelor's Degree required in Accounting (preferred), Finance or Economics * MBA and/or CPA a plus * Two 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 * Must be detailed orientated * Strong interpersonal skills * Excellent written and verbal communication skills, including experience in writing analysis on financial results (income statement) * Strong working knowledge of Microsoft Word and Excel required * Knowledge of Oracle general ledger system or other major ledger system preferred * Overtime is required during peak periods throughout the year (quarter close), especially during the year-end close process (January and February)

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