Assistant Manager, Investment Accounting at AIG

New York, New York, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Insurance, Financial ServicesIndustries

Requirements

Bachelor’s degree in accounting or finance
3+ years’ experience in accounting and reporting for investment products
Solid understanding of investment products and accounting treatment for fixed maturity, equity, cash equivalent and alternative investments
Working knowledge of Generally Accepted Accounting Principle (GAAP) and the recording of investments-related journal entries
Experience with foreign currency remeasurement and translation
Strong analytical skills, including experience performing investment data analysis including commentary
High level of competency using Microsoft Excel including pivot tables and formulas to create/manage investment data and perform analysis
Ability to work collaboratively with teams in multiple locations
Ability to balance multiple projects at once, to prioritize appropriately, and to approach the work with a sense of urgency and strong attention to detail to produce high quality results in a time sensitive environment
Team-player mindset geared towards process improvements and the implementation of accounting controls to ensure consistency and data quality of the team’s financial output
High level of motivation and initiative, ability to work independently, including strong organizational skills
Comfort level working within a dynamic and complex organizational structure
Excellent interpersonal skills with ability to maintain relationships at all levels within the organization

Responsibilities

Execute and manage accounting processes related to the monthly and quarterly accounting close to ensure accuracy of AIG’s invested assets data of certain international entities
Support the preparation of certain Investment disclosures for AIG 10Q/K and Financial Supplement, including as appropriate the Investment, Lending, Fair Value, VIE Footnotes and Investment MD&A
Assist with the implementation of process improvements and new systems, in coordination with other areas of the department/organization
Point of contact and support for the various business unit and corporate controllers
Coordinate with various areas in the organization to develop an understanding of new investment transactions and to provide guidance/support that ensures the accounting results from these investments are accurately recorded in the AIG ledgers
Perform ad-hoc analytical requests

Skills

Key technologies and capabilities for this role

Investment AccountingGAAPSTATNAIC Reporting10Q10KFinancial SupplementClearwaterInvestranLMSGeneral Ledger ReconciliationAudit ControlsFinancial Close

Questions & Answers

Common questions about this position

What is the salary for the Assistant Manager, Investment Accounting position?

This information is not specified in the job description.

Is this a remote position or what is the location requirement?

This information is not specified in the job description.

What skills and experience are required for this role?

Candidates need a Bachelor’s degree in accounting or finance, 3+ years’ experience in accounting and reporting for investment products, solid understanding of investment products and their accounting treatment, working knowledge of GAAP and investment-related journal entries, and experience with foreign currency remeasurement.

What does the Investment Accounting team at AIG do?

The team handles accounting and reporting for AIG's $300 billion invested assets, reconciles transactional data to the general ledger and financial statements, manages external reporting, implements new systems and standards, establishes accounting for new investments, and supports risk management and audit.

What makes a strong candidate for this Assistant Manager role?

A strong candidate will have 3+ years of experience in investment accounting and reporting, a solid grasp of GAAP and various investment types like fixed maturity and alternatives, and hands-on experience with journal entries and foreign currency remeasurement.

AIG

Global insurance provider for individuals and businesses

About AIG

AIG provides a variety of insurance products and services aimed at individuals, families, and businesses. Their offerings include life insurance, retirement planning, and commercial insurance, which help clients manage risk and protect their assets. AIG operates by underwriting insurance policies and managing risk, while also investing the premiums collected to generate income. This company stands out from competitors by not only focusing on traditional insurance but also emphasizing cybersecurity and data protection to keep clients' information safe. AIG's goal is to help clients achieve financial security and peace of mind through comprehensive insurance solutions.

New York City, New YorkHeadquarters

1919Year Founded

IPOCompany Stage

Cybersecurity, Financial ServicesIndustries

10,001+Employees

Benefits

Health, dental, & vision coverage

Flexible Spending Accounts (FSA)

401(k)

PTO

Commuter Expense Reimbursement Account

Risks

Sale of personal travel business may reduce AIG's market presence in travel insurance.

Expansion in Atlanta could pose financial risks if expected growth does not materialize.

Deconsolidation of Corebridge Financial might lead to loss of synergies and increased costs.

Differentiation

AIG offers a wide range of insurance products globally, serving diverse client needs.

Corebridge Financial, a subsidiary, enhances AIG's offerings in retirement planning and financial futures.

AIG emphasizes cybersecurity and data protection, ensuring clients' information remains secure.

Upsides

AI adoption in underwriting and claims processing enhances efficiency and reduces costs for AIG.

InsurTech partnerships offer AIG opportunities to enhance digital capabilities and drive innovation.

Telematics and usage-based insurance allow AIG to offer personalized and flexible products.

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