Who We Are
At Corebridge Financial, we believe action is everything. That’s why every day we partner with financial professionals and institutions to make it possible for more people to take action in their financial lives, for today and tomorrow.
We align to a set of Values that are the core pillars that define our culture and help bring our brand purpose to life:
- We are stronger as one: We collaborate across the enterprise, scale what works and act decisively for our customers and partners.
- We deliver on commitments: We are accountable, empower each other and go above and beyond for our stakeholders.
- We learn, improve and innovate: We get better each day by challenging the status quo and equipping ourselves for the future.
- We are inclusive: We embrace different perspectives, enabling our colleagues to make an impact and bring their whole selves to work.
About The Role
The National Association of Insurance Commissioners (NAIC) established statutory standards and best practices for the U.S. insurance industry. CRBG’s NAIC Valuations department is responsible for monitoring and applying investment reporting protocols determined by the NAIC. The department’s primary focus is on Bonds and Stocks owned by U.S. insurance companies.
Customers include Corebridge Investments, Portfolio Solutions Group, CIO, Investment Accounting, Accounting Policy, as well as Asset Managers and Third-Party Administrators.
Responsibilities
- The primary purpose of the job is to oversee, analyze, validate, and prepare information related to statutory investment reporting as governed by the National Association of Insurance Commissioners (NAIC).
- Assist in the analysis of investment structures for determination of NAIC reporting, accounting, and risk-based capital (RBC) and to ascertain if any punitive NAIC requirements exist. This includes new structures, existing, and re-structures as well as analysis for NAIC changes. Conclusion should be based on NAIC investment guidance including accounting, blanks reporting, RBC instructions as well as outreach to external parties, NAIC or regulators. This process is nuanced and interpretational.
- Primary contributor during monthly and quarterly accounting closes and requires interaction and outreach to obtain needed documentation.
- Involves research and interpretation of NAIC guidance and communication of NAIC changes and industry or regulator feedback. It will require knowledge of the principles and practices of the NAIC, accounting practices and procedures as well as annual statement and RBC instructions.
- Priorities align with broader investment goals of achieving the best NAIC Designations and lowest capital charges.
- Attend all investment related NAIC calls. Participate in industry interested parties’ groups.
- Monitor NAIC investment-related developments and initiatives and internally communicate appropriate information on these NAIC investment changes.
- Research, analysis, and reconciliation projects as needed. Current examples are 1) Third Party Administrator system’s transition, parallel testing, and implementation, 2) non-agency RMBS and CMBS NAIC modeling reconciliation and processing and 3) the NAIC bond project which entails research of characteristics and appropriate categorization of each individual bond owned by our US insurers.
- Assist in the research, documentation, and calculation of NAIC Designations reported in the statutory financials and used to determine RBC. Accounting closes and departmental processes including preemptive work, data retrieval and translation and updates completed with timeframes provided.
- Update and maintain departmental database or system with required manual, third-party and portfolio data. Compare, reconcile, and analyze data as needed.
- Work closely with all investment desks \ asset managers, and identify their view on credit, to determine NAIC designations. Outreach is needed for supporting NAIC documentation for investments managed by these desks.
Skills and Qualifications
- Bachelor’s in finance or business. Can be replaced with direct NAIC and investment experience
- 3+ years of experience in investment accounting, investment operations, or investment-related field and be familiar with basic investments such as bonds and stocks
- Candidate must have advanced data management skills including proficiency in MS Excel and working knowledge of Microsoft Access
- Strong interpersonal and communication skills are essential
- Must be self-motivated, detail-oriented and able to multi-task
- Experience with Bloomberg, Refinitiv and investment applications (Aladdin, PAM, Clearwater, CAMRA, Charles River, etc.) are preferred
- Insurance company experience and familiarity with annual statements is preferred
Compensation
Corebridge also offers a range of competitive benefits as part of the total compensation package, as detailed below.
Work Location
If the position is based in one of Corebridge Financials' hub offices which are Houston, TX, Jersey City, NJ. or Woodland Hills, CA office the role is subject to our hybrid working policy, which gives colleagues the benefits of working both in an office and remotely. However, we are open to considering full remote candidates outside of these areas.
#LI-SB1 #LI-SAFG #LI-Remote
Why Corebridge?
At Corebridge Financial, we prioritize the health, well-being, and work-life balance of our employees. Our comprehensive benefits and wellness program is designed to support employees both personally and professionally, ensuring that they have the resources and flexibility needed to thrive.
Benefit Offerings Include:
- Health and Wellness: We offer a range of medical, dental and vision insurance plans, as well as mental health support and wellness initiatives to promote overall well-being.
- Retirement Savings: We offer retirement benefits options, which vary by location. In the U.S., our competitive 401(k) Plan offers a generous dollar-for-dollar Company matching contribution of up to 6% of eligible pay and a Company contribution equal to 3% of eligible pay (subject to annual IRS limits and Plan terms). These Company contributions vest immediately.
- Employee Assistance Program: Confidential counseling services and resources are available to all employees.
- Matching charitable donations: Corebridge matches donations to tax-exempt organizations 1:1, up to $5,000.
- Volunteer Time Off: Employees may use up to 16 volunteer hours annually to support activities that enhance and serve communities where employees live and work.
- Paid Time Off: Eligible employees start off with at least 24 Paid Time Off (PTO) days so they can take time off for themselves and their families when they need it.
Eligibility for and participation in employer-sponsored benefit plans and Company programs will be subject to applicable law, governing Plan document(s) and Company policy.
We are an Equal Opportunity Employer
Corebridge Financial, is committed to being an equal opportunity employer and we comply with all applicable federal, state, and local fair employment laws. All applicants will be considered for employment based on job-related qualifications and without regard to race, color, religion, sex, gender, gender identity or expression, sexual orientation, national origin, disability, neurodivergence, age, veteran status, or any other protected characteristic. The Company is also committed to compliance with all fair employment practices regarding citizenship and immigration status. At Corebridge Financial, we believe that diversity and inclusion are critical to building a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our colleagues are respected as individuals and valued for their unique perspectives.
Corebridge Financial is committed to working with and providing reasonable accommodations to job applicants and employees, including any accommodations needed on the basis of physical or mental disabilities or sincerely held religious beliefs. If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to TalentandInclusion@corebridgefinancial.com. Reasonable accommodations will be determined on a case-by-case basis, in accordance with applicable federal, state, and local law.
We will consider for employment qualified applicants with criminal histories, consistent with applicable law.
To learn more please visit: www.corebridgefinancial.com
Functional Area:
FA - Finance
Estimated Travel Percentage (%): No Travel
Relocation Provided: No
Corebridge Institutional Investments (U.S.), LLC