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Analyst, Investment Accountant

Employer
Brookfield Asset Management, Inc
Location
Toronto, Canada
Salary
Competitive
Closing date
Jun 21, 2024

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Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Location

Brookfield Place - 181 Bay Street

Business - Reinsurance

Brookfield's publicly traded Reinsurance business, Brookfield Reinsurance Partners Ltd., is a newly formed division of Brookfield focused on providing capital-based solutions to insurance companies and their stakeholders. Brookfield Reinsurance is positioned to act as a strong, long-term partner to the insurance sector, with a primary focus on the life, annuity and pension market in North America and Europe. The business provides annuity-based reinsurance products to insurance and reinsurance companies and also acts as a direct issuer of pension risk transfer products for pension plan sponsors. In doing so, the business seeks to match long-duration liabilities with a portfolio of high-quality investments in order to generate attractive, risk-adjusted returns.

Brookfield Culture

Brookfield has a unique and dynamic culture. We seek team members who have a long-term focus and whose values align with our Attributes of a Brookfield Leader: Entrepreneurial, Collaborative and Disciplined. Brookfield is committed to the development of our people through challenging work assignments and exposure to diverse businesses.

Job Description

The Analyst, Investment Accounting, will be a key contributor of Brookfield Reinsurance's growing team and will report to our Director, Investment Accounting. The role will be based in Brookfield's Toronto offices at Brookfield Place.

The role provides support across a broad range of alternative investment products including Private Loans, Term Loans, LPs, and Third-Party Funds in a variety of investment structures. The Analyst will work closely with internal teams responsible for Portfolio Management, Risk Management, Investment Operations, Finance, and will often interact with various external parties such as auditors, regulators, and other outsourcing providers to ensure BNRe's investments will be accounted for in accordance with relevant GAAP and Statutory accounting. This will involve project-based and routine-focused exercises aimed at developing and applying accounting policies, supporting deal flow, and ultimately delivering complete and accurate financial information for further downstream reporting.

Responsibilities:
  • Understanding and applying US GAAP and Statutory accounting conclusions and elections for new trades within investment portfolios, often as part of complex transactions
  • Closely interacting with Investment Operations and regular routines to ensure security master data and transaction-level details are developed and flowing completely and accurately
  • Reviewing initial set-up for book yields, and monitoring on an ongoing basis
  • Participating in securities' ratings processes and ensuring in compliance with insurance regulatory requirements and reporting
  • Quarterly financial reporting exercises such as evaluation of expected credit losses, reviews of externally provided cashflows, supporting the application of FAS 91 and FAS 157 related analysis, preparation of financial packages
  • Reconciling various balances on a routine basis, including investment payables and receivables balances, cash suspense and P&L accounts to investment subledgers for various portfolios
  • Supporting the development and maintenance of effective internal controls, and corresponding processes such as SOX key controls documentation and process walkthroughs
  • Supporting audit and ad-hoc requests and analysis as needed, and other special duties and projects as assigned
Qualifications & Requirements:
  • Degree in finance, accounting or related business discipline
  • Completed CPA, CFA or related designation, or working towards qualification
  • Minimum 2-3 years of experience in Finance (accounting, treasury, corporate finance, capital markets)
  • Experience with US GAAP and Statutory accounting
  • Insurance sector experience and knowledge of insurance reporting requirements is an asset
  • Above-average proficiency with Microsoft Office tools (Excel, Power BI, VBA, Power Query); experience with SQL or other data tools and Clearwater Analytics environment is an asset
  • Demonstrated ability to own and improve processes
  • Strong communication and collaborative skills, written and oral
  • Self-motivated and proactive with the ability to operate independently
  • Organizational skills to effectively manage priorities, multi-task where necessary, work well under pressure and meet timelines
  • Interpersonal skills and ability to develop collaborative relationships at all levels in the organization
  • Judgement, critical thinking and analytical skills combined with attention to detail and thoroughness
  • Team-oriented with a commitment to shared success above personal accomplishment or recognition
  • High degree of professional ethics and integrity
Brookfield is committed to maintaining a Positive Work Environment that is safe and respectful; our shared success depends on it. Accordingly, we do not tolerate workplace discrimination, violence or harassment.

Brookfield is committed to creating an accessible and inclusive organization. We are committed to providing barrier-free and accessible employment practices in compliance with the Accessibility for Ontarians with Disabilities Act. Should you require a Human Rights Code-protected accommodation through any stage of the recruitment process, please make them known when contacted and we will work with you to meet your needs.

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