Life Insurance Accounting

STRENGTHS

Highly dynamic and results-oriented certified public accountant, with track record of success in developing and maintaining strong staff and client relations, as well as providing hands-on skills in insurance financial management. Extensive accounting and business management skills, coupled with comprehensive experience in SEC, Statutory and GAAP insurance accounting policy and financial reporting. Financial executive with the ability to independently multitask, plan and direct demanding operations and complex schedules. Integrate astute strategic and analytical skills with strong drive to succeed. Articulate and personable communicator, with well-defined writing and management skills and powerful communication, presentation and financial aptitude. Fully committed to providing dynamic leadership and teambuilding skills to the highest level of professional and personal excellence.

AREAS OF EXPERTISE

Drives Change and Process Improvement

Accounting Policy and Procedures

PeopleSoft and SAP System Implementation

SEC, Statutory and GAAP Financial Reporting

Financial Planning and Analysis

Audited Financial Statements

Legal and Regulatory Compliance

Staff Leadership and Team Building

PROFESSIONAL EXPERIENCE

DIRECTOR FINANCIAL REPORTING 2011–Present

Presidential Life Insurance Company Nyack, NY Publicly-traded life & annuity carrier SEC Registrant

Specially selected by acquiring company CFO to lead the Finance transformation process. Exceptional recognition at Board of Directors meeting for extraordinary efforts to complete 3Q2012 SEC 10Q filing by deadline despite impact of Hurricane Sandy. Designed accounting and financial reporting infrastructure for new Fixed Indexed Annuity product launch. Enhanced SEC 10Q, 10K & MD&A disclosures though analytic review. Effectively managed the external audit relationship and accelerated the delivery of Audited Financial Statements. Developed financial transaction mapping for system interface framework for new annuity contract administration system. Published Statutory and GAAP accounting policy position papers. Reengineered manual processes through automation, improving timing and efficiency of quarterly closing. Collaborated with Actuarial and Investment teams to enhance quarterly RBC models. Successfully drove process improvement via implementation of F9 reporting tool to streamline financial statement preparation and analytics for senior management team.

DIVISIONAL CONTROLLER 2002–2010

Guardian Life Insurance Company of America New York, NY

Spearheaded a team of 12 associates in the timely production, review and analysis of quarterly Statutory and GAAP financial statements for the company’s largest operating unit. Presented quarterly financial results to senior management and summarized key business drivers by product line with variance analytics vs. Plan, Forecast and Prior year. Authored and researched accounting policy memorandums on statutory and GAAP issues, leveraging technical support on conclusions to external auditors.

Highlights:

Successfully delivered the new PeopleSoft 8.8 Financial system implementation on schedule as Project Manager for the company’s largest division with $3.5 billion in annual premium volume, reducing closing process by 5 days.

Integrated proactive change leadership skills as shown in training 20 members of financial team in reengineering over 200 accounting procedures, such as business process workflows, SOX internal controls and standardized journal entries.

Independently cut profit center’s quarterly closing process by two additional days, in coordination with the Actuarial Team in designing an automated Statutory and GAAP product line reserves upload to oversee financial reporting and reconciliation processes.

Improved existing financial reporting team by upgrading staff through replacement hires of professional accountants and motivating improved efficiency of financial closing processes.

Established a reputation for client relations excellence by serving as key liaison to the Big 4 audit team and state insurance department examinations, as well as maintaining relationship with external auditors to manage deliverables on schedule for nine legal entities.

Singlehandedly uncovered $30 million in additional GAAP equity by launching a detailed Statutory to GAAP equity roll forward analytic.

Consistently ensured timely responses to internal audit recommendations and implementation follow-up by collaborating with Operations, Sales, Actuarial and SBU personnel to authorize controls application.

SECOND VICE PRESIDENT AND CONTROLLER 1996–2002

Nippon Life Insurance Company of America New York, NY

Administered a wide range of financial reporting processes for life and health insurer, which included Statutory, GAAP, management and audited financial statements. Master-planned and executed initial GAAP conversion project; distributed audited financials on schedule; and conveyed STAT vs. GAAP results to the executive management team. Accurately interpreted emerging GAAP accounting pronouncements and NAIC codification issue papers, assessing the impact of the company’s financial position.

Highlights:

Solely represented the senior management on a wide array of accounting policy issues by collaborating with the Big 4 audit partner on accounting practices, annual audit process and footnote disclosure issues.

Created 3-year financial projections for A.M. Best Company, Inc. and Standard & Poor's (S&P) rating agency presentations by senior management in cooperation with the Actuarial and Marketing departments.

Strengthened interim audit work efficiency and cut chargeable audit hours by designing an electronic download of quarterly general ledger data into audited workpaper format.

Obtained favorable state insurance department examination reports by successfully responding to all information requests during the company’s regulatory triennial financial examination.

DIRECTOR OF ACCOUNTING 1990–1996

Mutual Life Insurance Company of New York (MONY) Teaneck, NJ

Planned and directed the Pre-IPO GAAP conversion project for a $16 billion demutualization. Implemented FASB 97 for Annuity product lines including projection model scenarios of expected future gross profits in close collaboration with Investment and Actuarial teams. Authored SEC/GAAP accounting policy position papers. Developed expense trend analytics of Deferred Acquisition Costs for Annuity business from departmental and functional cost data to identify acquisition, maintenance and overhead cost components in the formulation of the company’s GAAP accounting policy and presented results to senior management. Enhanced source of earnings quarterly reporting on investment income spread via asset segmentation analytics and expense margins on Annuity product lines.

EARLIER CAREER

Accounting and analytical positions at Integrated Resources Life Insurance Co., Cablevision Systems Corp., Avis Car Rental

EDUCATION

MASTER OF BUSINESS ADMINISTRATION IN FINANCE (GPA: 3.8) Top 10% Ranking

Hofstra University Hempstead, NY

BACHELOR OF SCIENCE IN ACCOUNTING WITH HIGH HONORS

State University of New York at Oneonta Oneonta, NY

PROFESSIONAL DEVELOPMENT

PeopleSoft and SAP Financials Implementation – General Ledger, SAP Business Objects and nVision Financial Reporting

SEC Reporting and Compliance – Insurance Companies

GAAP Financial Analysis for Life Insurance Companies

NAIC Statutory Accounting Codification

Statutory Life Insurance Accounting and Annual Statement Preparation

Cognos - Wings statutory reporting - Freedom General Ledger – Freedom Annual Statement Software - F9 Reporting Software

AFFILIATIONS

American Institute of Certified Public Accountants

New Jersey Society of Certified Public Accountants

Insurance Accounting and Systems Association, Metro NY/NJ Chapter

Fellow, Life Management Institute (FLMI), Life Office Management Association

FLMI Society of New York

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