Manager - Accounting Research
Posted on Aug 4 Northbrook, IL 130 views
You’ll do all this in an environment of excellence and the highest ethical standards – a place where values such as integrity, inclusive diversity and accountability are paramount. We empower every employee to lead, drive change and give back where they work and live. Our people are our greatest strength, and we work as one team in service of our customers and communities.
Everything we do at Allstate is driven by a shared purpose: to protect people from life’s uncertainties so they can realize their hopes and dreams. For more than 89 years we’ve thrived by staying a step ahead of whatever’s coming next – to give customers peace of mind no matter what changes they face. We acted with conviction to advocate for seat belts, air bags and graduated driving laws. We help give survivors of domestic violence a voice through financial empowerment. We’ve been an industry leader in pricing sophistication, telematics, digital photo claims and, more recently, device and identity protection. We are the Good Hands. We don’t follow the trends. We set them.
The purpose and responsibility of the Corporate Accounting Research (CAR) group is to develop and oversee GAAP and Statutory accounting policies of the Corporation. This responsibility involves monitoring and participating in accounting standard setting activities as well as interpreting final standards and ensuring that the standards have been appropriately reflected in both the accounting policies and financial statements of the company. In addition to maintaining the company’s accounting policies, CAR provides accounting expertise in advising on accounting related to special projects as well as supporting acquisition and divestiture activities and capital transactions.
The Division Manager of Accounting Research is responsible for technical accounting research, interpretation and implementation of new and existing accounting pronouncements – U.S. GAAP, IFRS, and statutory accounting. This position develops and documents proposed accounting policies for the organization. In addition, the Division Manager of Accounting Research monitors and communicates the status of emerging accounting guidance and potential impacts to the organization as well as leads the implementation of new accounting standards and interpretations with the objective of insuring consistent and appropriate implementation. The Division Manager may participate in the development of accounting and reporting standards through direct interaction with standard setters through participation in industry groups, development of proposed comment letters, and direct dialogue with the standard setters. In addition, the position develops presentations for communicating to senior management, Audit Committee, as well as other personnel within the organization the status of new accounting developments as well as potential impacts to Allstate. The Division Manager also serves as a primary contact for business units for accounting inquiries regarding appropriate and consistent application of the company’s accounting policies.
The Division Manager serves as a technical accounting expert responding to inquiries related to complex transactions, corporate initiatives, new investments, development of new products, and application of accounting and reporting standards (new and existing). The Division Manager researches complex technical accounting issues and develops recommendations that comply with the company’s accounting policies and practices as well as authoritative accounting standards. In addition, the Division Manager serves as an advocate for Allstate’s positions in discussions with the Company’s external auditors.
- Lead the delivery of guidance and advisory services to stakeholders in connection with the application of generally accepted accounting principles (GAAP), international financial reporting standards (IFRS), and statutory accounting principles
- Monitor development of accounting standards proposed by various standard setters (i.e., Financial Accounting Standards Board (FASB), International Accounting Standards Board (IASB), Securities and Exchange Commission (SEC), and National Association of Insurance Commissioners (NAIC))
- Participate in the development of accounting and reporting standards through direct interaction with standard setters or through participation in industry groups, and development of proposed comment letters
- Review new and proposed accounting standards and assess potential impacts to operational/reporting processes as well as financial results
- Disseminate information regarding proposed and issued accounting and reporting standards and related interpretations including potential impacts to the business areas and shared services
- Prepare presentations for senior management, business unit management, and the Audit Committee regarding matters on accounting standards developments
- Research complex accounting issues and develop recommendations that demonstrate a clear understanding of potential impacts to the company
- Provide expert accounting advice related to Allstate’s approximately $60B investment portfolio, new complex investments, corporate transactions (e.g., acquisitions/disposals, capital transactions, goodwill, stock compensation, consolidation analyses), as well as proposed/new products, pension and other post-retirement benefits, revenue recognition, software accounting, restructuring, and lease accounting
- Works directly with Investment Accounting, Corporate Accounting, Legal, various portfolio managers regarding transactions, including Investment Portfolio Management topics, and external parties
- Serve as a primary contact for business units for accounting inquiries, including new strategies, regarding appropriate and consistent application of accounting policies
- Present periodic educational accounting updates to Business Units and Finance Shared Services
This position is also responsible for leading implementation projects and managing cross functional groups to effectively implement new accounting and reporting standards
- Collaborate with various finance and accounting groups across the company to assess impact of new standards and identify actions necessary for successful implementation
- Plan and manage projects to enable proper implementation of accounting standards and interpretations in a timely manner
- Coordinate activities across functional groups in identifying and addressing potential issues in implementing new standards
- Communicate implementation status to various stakeholders within the organization and externally (i.e., Deloitte & Touche)
- Bachelors degree in Accounting and CPA required
- MBA preferred
- Public Accounting Experience – 5 to 10 years of Big 4 experience with insurance clients (banking acceptable).
- Deep knowledge in U.S. Generally Accepted Accounting Principles (GAAP), SEC accounting and disclosure rules and the standard setting process; knowledge of IFRS and statutory accounting preferred
- Ability to research accounting issues and develop well-reasoned conclusions on complex accounting issues in accordance with current pronouncements and company policies
- Must have excellent oral and written communication skills to converse with individuals at all levels of the organization on complex issues
- Strong experience in reviewing contractual arrangements to evaluate accounting implications (e.g., investment related to transactions)
- Ability to establish priorities and meet deadlines
- Excellent communication, planning, and leadership skills
- Demonstrated ability to lead, mentor and develop staff
- The following work experiences are not required, but preferred:
- Accounting research experience
- Insurance experience (Life and P&C, reinsurance, other insurance specific activities)
- Exposure to accounting for: financial instruments, acquisitions, divestitures, issued related to fair value measurements
- Experience with developing comment letters to standard setters
- Experience developing presentations to senior management and the Board of Directors
- Exposure to SEC reporting
- Compensation range for this position is $100,000 - $150,000 per year, based on experience and qualifications.
The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.
Good Work. Good Life. Good Hands®.
As a Fortune 100 company and industry leader, we provide a competitive salary – but that’s just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you’ll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy. For a full description of Allstate’s benefits, visit allstate.jobs/benefits/
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Allstate generally does not sponsor individuals for employment-based visas for this position.
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