Financial Reporting Associate

Prudential Annuities Distributors (PAD); Newark (NJ); Hybrid; USD 57,000 - 94,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

Life insurance

401(k) with match

Pension plan

Wellness program

Education benefits

Employee Stock Purchase Plan

Job summary

Prudential Financial, Inc. is seeking an Accounting Implementation-Financial Reporting Associate to support the AIS team in designing and implementing new accounting for new business initiatives.

The role collaborates across Finance, Actuarial, and Operations to ensure accurate STAT and GAAP reporting. The position is hybrid in Newark, NJ with on-site requirements; duties include documenting processes, testing system reports, and providing audit support within the FSO and Corporate Controllers

Qualifications

• Accounting degree and 1–2 years of accounting experience.
• Strong partnering, written and oral communication skills.
• Strong analytical and research skills.
• Ability to meet deadlines, prioritize and manage multiple assignments.
• Self-motivated, able to work independently and in a team.
• Detail oriented; willingness to learn STAT and GAAP reporting.

Responsibilities

• Implement new accounting related to new business initiatives, including creating Statutory and GAAP examples.
• Partner with Operations to execute Table Maintenance System changes.
• Test accounting transactions and reports in the administration system/sub-ledger (PIPS).
• Update documentation to support new business release.
• Process and monitor proofs and controls to ensure correct accounting.
• Research and resolve issues related to proofs and policyholder accounting.

Skills

Attention to detail

Analytical skills

Communication skills

Time management

Self-motivation

Teamwork

Education

Accounting degree

Tools

Excel

PowerPoint

Word

Oracle

PIPS

Job description

Job Classification: Finance & Accounting - Finance & Accounting Are you a detail-oriented, self-driven individual with accounting experience who loves tackling complex challenges and collaborating across teams? Do you want your work to drive real business outcomes and shape Prudential’s future? As part of our Accounting Implementation Solutions (AIS) team, you’ll play an important role in setting up the automated accounting for new business and making an impact on our business and customers. We’re seeking an Accounting Implementation-Financial Reporting Associate ready to innovate and grow with us. As part of the Corporate Controllers Department and the CFO Organization of PFI, the Finance Services Organization (FSO) is responsible for the controllership activities in support of the U.S. business units including the International activities performed domestically. The Accounting Implementation Solutions (AIS) team within FSO supports assessing and establishing policyholders, commission, and reinsurance accounting for Life, Annuities and Retirement new business initiatives. The Accounting Implementation - Financial Reporting Associate will partner with project leads to support the assessment, design, and implementation accounting for new business initiatives, ensuring Prudential’s financial reporting remains best-in-class. The successful candidate will also work closely, develop relationships, and become a trusted business advisor within the different FSO groups and to our business partners in Finance, Actuarial, Corporate Controllers, Operations, Separate Accounts Operations, Product Strategy, and Third-Party Administrators. The current employee work arrangement for this position is Hybrid in Newark and requires your on-site presence on a reoccurring basis as determined by your business. Your manager will provide additional details relating the specific number of days you are expected to be on-site.

Key Responsibilities:

• Implementation of new accounting related to new business initiatives which includes: Creating Statutory and GAAP accounting examples of new transactions based on accounting guidance.
• Partnering with Operations to execute Table Maintenance System changes to support the accounting in the administration systems.
• Partnering with technology to test accounting transactions and reports programmed in the administration system/sub-ledger (PIPS) to ensure correct STAT and GAAP reporting.
• Updating relevant documentation to support the new business release.
• Processing and monitoring proofs and controls related to the administration systems to ensure accounting is correct.
• In addition, researching and resolving issues related to these proofs.
• Supporting other FSO teams, Operations and Finance in researching and resolving issues/questions related to policyholder accounting.
• Providing internal and external audit support on policyholder accounting.
• Various ad-hoc requests as needed.

Qualifications:

• Accounting degree 1-2 years of accounting experience; strong foundational accounting skills being a primary requirement
• Strong partnering, written and oral communication skills
• Strong analytical and research skills
• Ability to meet deadlines, prioritize and manage multiple assignments
• Self-motivated, ability to work independently and as part of a team
• Detail oriented
• Willingness to learn STAT and GAAP reporting and Financial Information Systems knowledge a plus
• Strong PC Skills including Excel, PowerPoint, and Word Oracle ledger and PIPS sub-ledger knowledge a plus
• Overtime required

What we offer you:

Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $57,200.00 to $94,400.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Market competitive base salaries, with a yearly bonus potential at every level. Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave. 401(k) plan with company match (up to 4%). Company-funded pension plan. Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs. Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development. Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs. Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period). Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom. Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status, medical condition or any other characteristic protected by law. If you need an accommodation to complete the application process, please email [e-mail]. If you are experiencing a technical issue with your application or an assessment, please email [e-mail] to request assistance.

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.4 trillion in assets under management as of Dec. 31, 2023, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for 150 years. For more information please visit news.prudential.com.

Our Commitment to an Inclusive Workplace

Prudential Financial, Inc. serves its customers in more than 40 countries and territories, and we seek talented, creative individuals from a variety of backgrounds, worldviews, and life circumstances to work with us. We are focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t just accept difference—we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), is a global investment manager with US $1.3 trillion in assets under management as of Dec. 31, 2023. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate, and alternatives. For more information about PGIM, visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com. PGIM Inc. (PGIM) is the principal asset management business of Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States. PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. Our Commitment to an Inclusive Workplace Prudential Financial, Inc. serves its customers in more than 40 countries and territories, and we seek talented, creative individuals from a variety of backgrounds, worldviews, and life circumstances to work with us. We are focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t just accept difference—we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.