Accounting Operations Specialist

At Northwestern Mutual, we are strong, innovative and growing. We invest in our people. We care and make a positive difference.

Summary

Performs daily and monthly balancing of ledger accounts and systems, with high volumes of financial activity with routine and non-routine variances, in order to maintain and enforce a control environment for producing viable financial information. Performs financial accounting functions and ensures accuracy and timeliness of bank reconciliations by reviewing bank reconciliations and providing technical guidance, resolves complex reconciliation issues and maintains business rules of the Bank Reconciliation system. Researches and resolves system and accounting issues and analyzes bank detail and general ledger data to identify potential enhancements to strengthen controls and improve efficiency. Also, provides support as needed to balance workload in a team environment. Prepares financial and analytical information to support regulatory compliance and operational functions. Participates in cross-department product and system implementation projects.

Primary Duties & Responsibilities

Utilize the reconciliation system (Cadency) to manage high-volume daily and monthly cash reconciliation activities. Review results of the automated matching of accounting, cash disbursement, and bank records to ensure the reconciliation system processed completely and accurately. Upload records not systematically transferred into the application during batch processing. Use resources from various insurance and investment systems to manually match activity that was not able to be matched systematically via matching rules. Prepare month-end account reconciliations, documenting exceptions and utilizing system workflow management. Research and resolve reconciliation and data issues and variances to ensure accurate account balances. Coordinate timely research and resolution of system and transaction processing issues with IT, operating department (e.g., client services, investment) contacts, other areas of Controllers, Treasury, and the banks to proactively resolve open items in a timely manner. Develop and maintain an understanding of the information provided on bank data files and the cash transactions fed to the accounting system by numerous insurance and investment administration systems. Use judgement to make daily payment decisions, within established guidelines, on behalf of the Company for checks which were presented to the bank but identified as having data inconsistencies via the positive pay anti-fraud process (comparison of data between NM cash disbursement records and physical checks). Communicate identified fraudulent activities to the Special Investigative Unit for awareness and monitoring. Participate in system and process improvement efforts (e.g., Cadency upgrades, system functionality expansion, accounting data changes) that streamline reconciliation work and strengthen internal controls. Identify and communicate configuration changes that enable additional automated matches in Cadency. Create or update procedures and work instructions for the bank reconciliation process and other assigned processes. Create improvements to streamline processes and reduce daily workload any miscellaneous projects. Prepare and provide information to meet internal and external auditor requests and regulatory reporting requirements. Provide auditors with cash vouching for interim and year-end requests. Provide additional division support by completing back-up duties for other members, as needed. Prepare Cash reclass entry for assigned bank during year-end. Prepare Third Party Confirmation letters that need to be manually sent out to clients. Assist with accurately maintaining unclaimed property database, preparing unclaimed property reports, and processing due-diligence letters and forms for each state based on unique regulatory reporting requirements.

Qualifications (Knowledge, Skills, Abilities)

Bachelor's degree in accounting, or related field or equivalent education plus experience required. Minimum of 1 year of relevant professional accounting experience. Proven analytical and problem-solving skills. Strong written and verbal communication skills. Demonstrated ability to work independently. Public accounting experience preferred. Certified Public Accountant (CPA) designation preferred. Experience with the application of statutory or GAAP accounting standards in the insurance or financial services industries preferred. Proficiency in end-user reporting tools preferred. Understanding of insurance and investment products and the financial services industry including Northwestern Mutual’s business functions, products, and operations preferred.

Compensation Range

Pay Range - Start

$44,310.00

Pay Range - End

$82,290.00

Northwestern Mutual pays on a geographic-specific salary structure and placement in the salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity as well as the cost of labor in the market; and other conditions of employment. At Northwestern Mutual, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. Please note that the salary range listed in the posting is the standard pay structure. Positions in certain locations (such as California) may provide an increase on the standard pay structure based on the location. Please click here for additiona l information relating to location-based pay structures.

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We are an equal opportunity/affirmative action employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender identity or expression, sexual orientation, national origin, disability, age or status as a protected veteran, or any other characteristic protected by law.

If you work or would be working in California, Colorado, New York City, Washington or outside of a Corporate location, please click here for information pertaining to compensation and benefits.

FIND YOUR FUTURE

We’re excited about the potential people bring to Northwestern Mutual. You can grow your career here while enjoying first-class perks, benefits, and commitment to diversity and inclusion.

Flexible work schedulesConcierge serviceComprehensive benefitsEmployee resource groups

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