Job Details | DIRECTOR, ACCOUNTING RESEARCH - (Job Number: 0008TM)

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Allstate Insurance Corporation

 Location: Northbrook, IL 60062 Document ID: A3414-0EZB Posted on: 2010-05-0305/03/2010 Job Type: Regular

Job Schedule:Full-time
2010-06-02
 

DIRECTOR, ACCOUNTING RESEARCH - (Job Number: 0008TM)

Director, Accounting Research

The purpose and responsibility of the Corporate Accounting Research (CAR) group is to develop and oversee the accounting policies of the corporation. This responsibility involves the monitoring and participation in accounting standard setting activities as well as interpretation of final standards and ensuring that the standards have been appropriately reflected in both the accounting policies and financial statements of the company. In addition to maintaining the company's accounting policies, CAR is also responsible for a variety of special project type activities as well as supporting acquisition and divestiture activities.
The position will be required to:

1. Monitor and participate in the global convergence of accounting standards as well as the development of new accounting and reporting standards issued by the Financial Accounting Standards Board (FASB), International Accounting Standards Board (IASB), Securities and Exchange Commission (SEC), and Insurance Regulators both through the company's participation in The Group of North American Insurance Enterprises (GNAIE) as well as individually. In addition, once standards become final, estimate the impact of adoption and lead the effort to implement new standards. Examples of accounting and reporting standards that received attention in 2008-2009 are as follows:
  • Codification Section 820, Fair Value
  • Codification Section 320, Investments
  • Codification Section 944, Insurance Activities
  • Convergence of U.S. GAAP and International Financial Reporting Standards ("IFRS")
  • Development of a new measurement and financial reporting standard for Insurance Contracts (IASB and FASB Joint Project);
  • Development of a new Revenue Recognition accounting standard (IASB and FASB Joint Project);
  • Development of a new measurement and classification standard for financial instruments (IASB Exposure Draft);
  • Complete other specialized accounting related projects. Examples are as follows:
- Prepare and deliver presentations on specialized accounting topics to the
Allstate Corporation Audit Committee;
- Report the results of the SOX Section 302 and 404 reporting
processes to senior management and the Audit Committee.

Qualification

Knowledge/Skill/Ability
Public Accounting Experience - No less than 5 years of Big 4 experience with financial services clients (preference for insurance experience; commercial banking acceptable).
Total Experience - Six to 12 years. In addition to public accounting experience, looking for participation in the financial services industry (e.g. insurance, banks, finance companies, etc.) The following work experiences are not required, but nonetheless preferred:
  • Accounting research experience.
  • Exposure to derivatives and structured transactions.
  • Exposure to acquisitions and divestitures.
  • Exposure to issues surrounding fair value.
  • Experience with developing comment letters to standard setters.
  • Experience developing presentations for senior management and the Board.
  • Exposure to IFRS.
Must have excellent oral and written communication skills to be able to converse with individuals at all levels of the organization.
Education: Masters/MBA preferred

Major preference:
CPA a must, MBA preferred

Allstate Corporation is an Equal Opportunity Employer.

     
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