JOB DESCRIPTION

POSITION: Subject Matter Expert - Investment Accounting & Reporting

REPORTS TO: Sr. Finance Consultant / Manager - AXA BS services

SUPERVISES: None

REGULARLY INTERACTS WITH: AXAUS onshore teams and ABS teams

Process Brief

The process involves wide range of Investment accounting & regulatory reporting activities and analysis. The key objective of the process is to provide management with the insight on the financial transactions / position of the company over a period of time. The team will be involved in:

- Performing Verification of Financial Statements and Preparation of Prospectus Unit Tables and will be part of the Separate Accounts group

- Perform a series of validation checks, since accuracy, completeness and consistency is critical to the preparation of these financial statements

- Review of the excel tables against prior year prospectus filings to ensure that prior period information is correct, as changes occur after the tables go to printing/Earnings analysis & Directors Reports

- Compilation of data for NYS liquidity ratios, SEC Regulatory Data (NSARs and 24f-2s), Department of Labor - Form 5500 filings + preparation of non-complex statutory schedules

- Preparation of analytics including those requested by PwC and Actuarial hedging

- A portion of the SOX testing for the controls performed by ABS

- TAX Reporting: data gathering, reconciliation, variance identification and supporting backup for all schedules

- Tax Reporting: FAS109, Analysis of Wash Sales, OID and IRS requests

- Statutory Reporting: reconciliations for AVR-IMR and supporting documentation

- Non-standardized statutory Footnotes & Interrogatories

- Review of Regulatory & Statutory filings, MD&A

- Providing RBC data provided to statutory Reporting area for Fixed Maturities

- NAIC rating process, including ratings, documentation & process changes

- Statutory Reporting: reconciliations for AVR-IMR and supporting documentation

- Review of the excel tables against prior year prospectus filings to ensure that prior period information is correct, as changes occur after the tables go to printing

- Preparation of analytics including those requested by PwC/FINRA & Internal

Position Summary:

A key member of the ABS Finance operations team will need to have a comprehensive understanding of Separate Accounts (used to fund variable life insurance, variable annuities, modified guaranteed annuities and modified guaranteed life insurance, or various group contracts under pension or other employee benefit plans) and preparation of financial statements and has end to end knowledge on Accounting.

The resource needs to have a comprehensive understanding of General Account (Provides financial information to management by researching and analyzing accounting data; daily cash entries, Month end Accruals/Deferral JEs, Preparing reports, summarizes current financial status by collecting information; preparing balance sheet, profit & loss schedules, and other reports) and preparation of financial statements and end to end knowledge on Accounting.

Thorough knowledge on IFRS & GAAP would be essential. Position requires coordination and preparation of certain detailed analyses for inclusion in the Quarterly Statutory Analysis Package/ Clearance document & US GAAP financial statements. Requires high level knowledge of Statutory Accounting and Reporting, and knowledge of IFRS / US GAAP.

This position also requires experience in:

a. People Management

b. Process Management

c. Customer Management

d. Project Handling

The candidate will need to support the delivery of effective and timely statutory financial reporting to AXA Equitable while relying upon business and functional areas across the organization.

Key Accountabilities:

1. Weekly and monthly reconciliations: data gathering, variance identification, research and resolution of issues

2. Manual journal entries in conjunction with reconciliations which would include the preparation of the journal and the supporting documentation

3. Monthly Dividend Reinvestments for MMF held in the General Account

4. RBC data provided to Statutory Reporting area for Fixed Maturities

5. Statutory Reporting: reconciliations for Schedule Ds, AVR-IMR (Fixed Maturities) and supporting documentation

6. Prepare various analytics IFRS Analysis / Total Return Analysis to Trust Financials / NAV per Share Analytics / FAS 157 Preparation/Review /

7. Maintenance of SOX documentation and testing of internal controls over the financial reporting processes through ICON

8. SEC Reporting - Preparation of NSARs and 24F2s filing

9. Statutory Filings (Form 5500/Statutory Blank- Green book)

10. Prepare Form 5500 for IRS US Labor Department submission

11. Help with review of Various Statutory Green Blank, Blue Blank Schedules, Interrogatories, and disclosures

12. AXA BS to perform a series of validation checks, since accuracy, completeness and consistency is critical to the preparation of these financial statements. For example, Footing, Formatting, and Verifying dates, checking internal consistency in financial statements and footnotes and Performing roll forwards.

13. Review of the excel tables against prior year prospectus filings to ensure that prior period information is correct, as changes occur after the tables go to printing.

14. Also a review to update for fund mergers, name changes etc.

15. TAX Reporting: data gathering, reconciliation, variance identification and supporting backup for all schedules

16. Overview of other month end processes (Income Analysis, Impairment Reversals, OCI vs OTTI).

17. Helping with Standardized Statutory Interrogatories and Footnotes

18. Helping with Non-standardized Statutory Footnotes and Interrogatories

19. Also work on the month end schedules for closing (pre-close and closing activities)

20. Deal with complex customer instructions and queries to defined productivity and quality standards

21. Develop and maintain a good technical knowledge of the relevant process/product area in order to process complex tasks to agreed quality standard

22. Strong organizational skills; the ability to perform multiple tasks.

23. Comfortable working on US shift

Specific Position Related Experience

1. Graduate or Post Graduate in Commerce (Accounting Degree): And/or

2. Chartered Accountant or Experienced Accountant (Similar to Certified Public Accountant (CPA) or equivalent)

Additionally desirable:

a. Good in communication

b. 4 - 6 years of Accounting experience (including knowledge in preparation and review of financial statements)

c. Working knowledge of any ERP system

d. Past experience of working in Insurance company will be preferred

e. Knowledge / Experience with Statutory Reporting / IFRS / US GAAPS etc..

f. Willing to work in all shifts

Specific Knowledge Required

1. Book keeping and Accounting knowledge

2. Very good Communication skills

3. Very strong computing skills with advanced skills in MS Excel

4. Ability to support transfer of technical knowledge to team.

5. Ability to identify and drive process improvements.

6. Good documentation skills.

7. Good logical analytical and problem solving abilities.

8. Strong numerical & analytical skills

9. Attention to detail and accuracy.

10. Good interpersonal skills and strong client focus.

11. Ability to multi-task and prioritize work.

12. Ability to work harmoniously as part of a team.

Key (Skills & Competencies)

Change Mindset.

Client Focus.

Living through AXA Values.

Result Orientation.

Share to Succeed.

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