Sr Consultant, Insurance Investment Accounting

Internationalinsuranceprofessionals; Chicago (IL); Hybrid; USD 75,000 - 127,000; Full time

Benefits offered by this job

401k and pension

Medical, dental, vision

Disability coverage

Paid time off

Parental and caregiver leave

Life & accident insurance

Discretionary bonus program

Job summary

Northern Trust is seeking a highly skilled investment accounting professional to focus on insurance clients, delivering NAIC statutory schedules and regulatory reporting while ensuring GAAP compliance. The role includes managing schedules for fixed income, equities, and derivatives, and serving as a technical advisor on major business decisions.

Hybrid work model with a balance of in-office and remote work, enabling collaboration with teams across the organization.

Qualifications

• 5-7 years in investment accounting and NAIC reporting experience.
• Strong GAAP knowledge and ability to work with complex schedules.
• Experience with Schedule D, derivatives, and regulatory reporting.

Responsibilities

• Prepare and review NAIC statutory investment schedules and regulatory reports.
• Ensure compliance with statutory and GAAP accounting principles.
• Manage reporting for fixed income, equities, and derivatives.
• Provide expertise on Schedule DB and related reporting.
• Support accounting conversions and funding processes per regulatory guidance.
• Collaborate on strategic initiatives and act as a technical advisor.

Skills

Investment accounting

NAIC regulatory reporting

GAAP compliance

Fixed income / Equities / Derivatives

Schedule D reporting

Education

ASBE

MATT

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

$74,700 - 126,900 USD

• 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).

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.

Philanthropy is deeply rooted in Northern Trust's history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

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.