Sr Consultant, Insurance Investment Accounting

001 The Northern Trust Company; Chicago (IL); Hybrid; USD 75,000 - 127,000; Full time

Benefits offered by this job

401k & pension

Health benefits

Paid time off

Parental leave

Life and accident insurance

Bonus program

Job summary

Northern Trust in Chicago seeks a seasoned investment accounting professional focused on insurance clients and NAIC/GAAP compliance. You will manage investment schedules, regulatory reporting, and complex accounting for insurance-related holdings.

Hybrid work model applies, with time between the office and remote work. The role requires strong technical acumen, stakeholder management, and the ability to navigate regulatory guidance.

Qualifications

• 5–7 years in investment accounting.
• Experience with NAIC statutory schedules and GAAP compliance.
• Knowledge of fixed income, equities, and derivatives.

Responsibilities

• Prepare and review NAIC statutory investment schedules (Schedule D Parts 1–5, DA Parts 1–2, VBY, 1B, Summary by Country, footnotes, and interrogatories).
• Ensure compliance with statutory and GAAP accounting principles.
• Manage reporting for fixed income and equity securities, including accruals, income payments, and maintenance transactions.
• Provide expertise on derivatives and exposure to Schedule DB (all parts and sections).
• Support accounting conversions and funding processes to meet regulatory guidance.
• Collaborate on strategic projects such as new business initiatives, process re‑engineering, and M&A integration.
• Act as a technical advisor on significant business decisions and maintain industry knowledge.

Skills

Investment accounting

Regulatory reporting

GAAP knowledge

Fixed income

Equities

Derivatives

Schedule D knowledge

Education

CPA (desirable)

Tools

PAM/MAXIM

SAP NAIC reporting tools

Advanced Excel

Job description

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions. Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide. With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Summary

This is a highly specialized and challenging accounting role focused on investment accounting for insurance clients, ensuring compliance with NAIC statutory rules and GAAP standards. The position involves preparing regulatory reports, managing investment schedules, and supporting accurate accounting for insurance-related investments.

Working Model: Hybrid

We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.

Key Responsibilities

• Prepare and review NAIC statutory investment schedules (Schedule D Parts 1–5, DA Parts 1–2, VBY, 1B, Summary by Country, footnotes, and interrogatories)
• Ensure compliance with statutory and GAAP accounting principles
• Manage reporting for fixed income and equity securities, including accruals, income payments, and maintenance transactions
• Provide expertise on derivatives and exposure to Schedule DB (all parts and sections)
• Support accounting conversions and funding processes to meet regulatory guidance
• Collaborate on strategic projects such as new business initiatives, process re‑engineering, and M&A integration
• Act as a technical advisor on significant business decisions and maintain industry knowledge

Years of Experience Preferred

5–7 years in investment accounting. Minimum 2 year‑end cycles experience – they are flexible on years of experience.

Required Skills

• Strong understanding of investment accounting and regulatory reporting
• Experience with NAIC statutory schedules and GAAP compliance
• Knowledge of fixed income, equities, and derivatives
• Familiarity with Schedule D and related reporting requirements

Preferred Skills

• CPA highly desirable
• SAP experience a plus
• Exposure to PAM or MAXIM systems
• ASBE and MATT mandatory

Technical Skills

• Investment accounting systems (PAM/MAXIM)
• SAP NAIC reporting tools
• Advanced Excel

Soft Skills

• Strong attention to detail and accuracy
• Ability to manage complex projects and meet strict deadlines
• Excellent communication and stakeholder management
• Adaptability in a remote work environment

Salary Range

Salary Range: $74,700 - 126,900 USD. Salary range is a good faith estimate of base pay.

Benefits

• retirement benefits (401k and pension)
• health and welfare benefits (medical, dental, vision, spending accounts and disability)
• paid time off
• parental and caregiver leave
• life & accident insurance
• other voluntary and well‑being benefits
• discretionary bonus program that may include an equity component

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment‑based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E‑3, H‑1B1, F‑1, J‑1, OPT, CPT or any other employment‑based visa).

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.

Looking for greater? You found it. A global financial leader with more than 22,000 employees in 23 locations worldwide, Northern Trust empowers our employees to achieve more than just business goals. Our focus on work‑life balance, career mobility and unique opportunities are just a few of the reasons we’ve been named one of the world’s most admired companies.

Terms and Conditions Candidate Privacy Notice and Legal

Terms and Conditions Candidate Privacy Notice California Applicant Privacy Notice Pay Transparency Nondiscrimination Provision (U.S) Transparency in Coverage Disclosure – North America Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1‑800‑807‑0302 (NorthAmerica), +630‑276‑5353 (Asia Pacific), 1800‑425‑0333 (India), [phone] (Europe, Middle East and Africa) and let us know the nature of your request and your contact information. APAC/INDIA EEO STATEMENT It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non‑discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development. Canada EEO STATEMENT Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance. EMEA EEO STATEMENT It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non‑discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development. USA EEO STATEMENT It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. EEO Know Your Rights (U.S).