Manager, Financial Analysis Job Listing at Prudential in Newark, NJ

Insurance, Finance

The Individual Life Controllers group, a part of the Individual Life Finance Department, is responsible for internal control over and preparation of financial statements in accordance with GAAP and statutory accounting principles and analyzing financial results for Prudential's Domestic Individual Life Business. This group covers reporting and analyzing financial results for the Individual Life Segment, Subsidiary and Captive insurance companies, the Closed Block Business which consists of all Domestic Individual Life insurance policies issued prior to demutualization and the Agency Distribution channel which distributes products for the Individual Life, Annuities, Asset Management, and Group Life segments. Employees of the Individual Life Controllers group are required to interact and partner effectively with counterparts in the Actuarial department, Treasurer's, Asset and Liability Management (ALM), Corporate SEC Reporting, the GAAP and Statutory Consolidation Reporting groups, Risk Management, Internal Audit, PricewaterhouseCoopers, and other business contacts within the lndividual Life business unit.

The Individual Life Controllers group seeks a Manager for the Captive and Reinsurance Reporting Unit. The Captive and Reinsurance Reporting Unit is responsible for accounting, financial reporting and analysis of multiple captive reinsurance companies and one offshore entity that exclusively writes private placement business for wealthy individuals. The captive reinsurance companies provide reinsurance to the direct writing insurance companies primarily for the purpose of implementing capital management strategies within the Individual Life business. This unit plays an integral role in support of the capital management activities of the Individual Life Business including implementing new financing transactions with third parties, establishing new captive reinsurance companies, interaction with the captive boards and other governance functions.

The Manager in this group will gain significant exposure to senior leaders within both Finance and the Individual Life business while gaining in-depth knowledge of Individual Life's products and complex accounting issues associated with implementing capital management transactions. The successful candidate should possess the ability to manage processes, collaborate with others, manage multiple deliverables concurrently, and have strong written and oral communication skills.

Job Responsibilities:
The successful candidate will be responsible for the quarterly and annual financial reporting and analysis of the captive insurance companies (PARCC, PAR III, PAR Term, UPARC, and PAR U) as well as Pramerica. Primary responsibilities include:

• Completion of significant quarterly deliverables including; compilation of summarized financial statement analysis and review packages for each captive company, quarterly GAAP and STAT financial statements provided to third party financiers, completion of tax analysis and support.


• Leading the completion of annual Statutory audited financial statements for four captive companies. This includes preparation and analysis of management discussion and analysis and footnote disclosures as well as external audit support.


• Preparation and analysis of annual Bermuda Montary Authority (BMA) filing for Pramerica along with external audit support.


• Reporting, analysis and internal controls over monthly cashflows.


• Preparation and review of month-end close entries, supporting files, reconciliations and GAAP package schedules.

• Mininum of a Bachelor's degree in Accounting or Finance
• Minimum of 5-7 years experience
• Strong interpersonal and communication skills
• Strong analytical, organizational and problem solving skills
• Strong PC Skills including Excel and Word
• Experience with Oracle general ledger system a plus
• Overtime is required during peak periods