Job Description:
Job Title: Vice President, Investment Accounting
The Role
Reporting to the CFO of Fidelity Investments Life Insurance Company, the VP of Investment Accounting will lead the accounting and reporting function for a diversified investment portfolio, including public and private fixed income securities and private funds. This role is critical in ensuring compliance with GAAP and statutory reporting requirements, developing accounting policies, and providing strategic guidance on investment accounting matters. The VP will oversee complex investment transactions, statutory filings, and internal controls, while serving as a key liaison with auditors and internal stakeholders.
Key Responsibilities:
Lead accounting and reporting for a diversified investment portfolio across US and Bermuda entities.
Develop and maintain company accounting policies aligned with GAAP and statutory requirements.
Evaluate and apply new and proposed accounting guidance for different reporting bases; assess implications for current and future investments.
Analyze complex investment transactions and ensure proper accounting treatment under US GAAP and statutory frameworks.
Oversee preparation of investment related statutory filing schedules and support quarter-end and year-end closing processes.
Build and maintain robust investment accounting processes and internal controls.
Serve as primary contact for auditors on investment accounting matters.
Mentor and develop junior team members.
Manage and optimize investment accounting systems, including Clearwater, ensuring data integrity and process efficiency.
Collaborate cross-functionally with internal teams and external partners to ensure consistency in accounting policy elections and reporting.
The Expertise and Skills You Bring
10+ years of experience in investment accounting within insurance or financial services.
Strong knowledge of GAAP and statutory accounting principles for investments
Deep understanding of reinsurance agreements (Coinsurance, modified coinsurance and funds withheld arrangements).
Proven ability to analyze complex investment structures, including debt/equity classification, embedded derivatives, and fair value assessments.
Experience with statutory filings and regulatory disclosures (NAIC, BMA).
Demonstrated leadership in building accounting processes and internal controls.
Excellent communication and collaboration skills; ability to influence across all levels.
Experience with investment accounting systems and system implementations.
Bachelor’s degree in Accounting or Finance required; CPA or equivalent preferred.
The Team
You will be a key member of the Fidelity Investments Life Insurance Company finance leadership team, partnering closely with the Head of Accounting, CFO, investment operations, and other stakeholders to ensure accurate and timely investment accounting and reporting. This role offers an opportunity to shape the investment accounting function and contribute to strategic decision-making for the organization.
The base salary range for this position is $130,000-285,000 USD per year.Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.
Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.
We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.
Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles. Please consult with your recruiter for the specific expectations for this position.
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Benefits that balance life and work
From our fully paid parent leave to our on-site health and wellness centers, our benefits support the belief that more balance you have, the better you can achieve your goals.
Company overview
Company overview
At Fidelity, we are passionate about making our financial expertise broadly accessible and effective in helping people live the lives they want. We are a privately held company that places a high degree of value in creating and nurturing a work environment that attracts the best talent and reflects our commitment to our associates. We are proud of our diverse and inclusive workplace where we respect and value our associates for their unique perspectives and experience.
Reasonable accommodations
Fidelity will reasonably accommodate applicants with disabilities who need adjustments to participate in the application or interview process. To initiate a request for an accommodation contact the HR Accommodation Team by sending an email to accommodations@fmr.com, or by calling 800-835-5099, prompt 2, option 3.
Equal opportunity employer
Fidelity Investments is an equal opportunity employer. We believe that the most effective way to attract, develop, and retain a diverse workforce is to build an enduring culture of inclusion and belonging.
Hybrid work schedule
Fidelity’s hybrid working model blends the best of both onsite and offsite work experiences. Working onsite is important for our business strategy and our culture. We also value the benefits that working offsite offers associates. Most hybrid roles require associates to work onsite all business days of every other week in a Fidelity office.
Applicant screening
At Fidelity, we value honesty, integrity, and the safety of our associates and customers within a heavily regulated industry. Certain roles may require candidates to go through a preliminary credit check during the screening process. Candidates who are presented with a Fidelity offer will need to go through a background investigation and may be asked to provide additional documentation as requested. This investigation includes but is not limited to a criminal, civil litigations and regulatory review, employment, education, and credit review (role dependent). These investigations will account for 7 years or more of history, depending on the role. Where permitted by federal or state law, Fidelity will also conduct a pre-employment drug screen, which will review for the following substances: Amphetamines, THC (marijuana), cocaine, opiates, phencyclidine.