Position Overview

As the Investment Accounting Specialist/Analyst, you will be part of the Penn Mutual Asset Management (PMAM) Operations team and will primarily support investment accounting, in addition to middle and back-office operations and reporting, with a focus on our over $20B of insurance-related investment accounting clients. The position will work with other members of Operations while having regular interactions with the Investments, Fund Management and Compliance Teams, as well as clients and key strategic partners. The PMAM team works in a collaborative environment, guided by unwavering integrity. The successful candidate is results-driven, execution-focused with a collaborative style and a passion for continuous learning who will contribute to the success of PMAM.

Responsibilities

• Provide investment accounting support and oversight of our insurance accounting clients
  • Strong understanding of insurance general account assets on a Statutory and GAAP basis including financial statement reporting
  • Experience with fixed income, equity, derivatives (including collateral management) preferred
  • Knowledge of alternative asset accounting (or equivalent hedge fund and private equity fund structures)
• Liaise with external strategic partner to coordinate various investment accounting activities including monthly/quarterly/year-end close processes, audit requests, regulatory reporting and additional accounting-related activities such as IMR/AVR, hedge accounting, impairment review and cash flows of securities
• Support various activities related to the $2 billion alternative asset portfolio including journal entries, capital call/distribution activity, reconciliation and reporting
• Utilize business intelligence tools to perform key business control functions, develop insights/reporting and enhance process automation
• Perform various oversight and management of business controls related to internal and external audit requests
  • Includes working with Investment, Compliance, Accounting and other operational teams to ensure controls are being performed in accordance with documented policies and procedures
• Additional operational support for activities to include cash and collateral management
• Perform daily activities related to cash and collateral management
  • Inclusive of derivative trade activity, margin calculations and reconciliation
  • Communicate with external partners to ensure timely delivery of trade instruction and settlement requests
• Perform other investment accounting and operational activities, as needed

• Ability and desire to research technical investment accounting issues
• Well organized, focused and detail-oriented
• Excellent prioritization and time management skills
• Excellent verbal and written communication skills
• Excellent analytical and problem solving skills
• Follow up and follow through; have a sense of urgency and take ownership to get the job done, be responsible and accountable for outcomes
• Build effective relationships with business partners throughout the organization and externally
• Willingness to create, document and monitor processes
• Ability to work effectively in a fast-paced, collaborative, team-oriented environment

Experience

• 5+ years of experience in finance, investments and/or accounting
• Insurance experience preferred with an understanding of Statutory and GAAP accounting and reporting
• Advanced ability to utilize Microsoft Excel and PowerPoint
• Experience with completing journal entries and account reconciliations
• Burgiss Private i, Bloomberg, Workday and/or similar investment/accounting platform experience a plus
• Domo business intelligence platform or experience with other business intelligence tools a plus

Education/Licenses/Professional Designations

• Bachelor’s Degree in Business, Finance, Accounting or related field
• Hold, or working towards an advanced degree and/or professional designation preferred

All Penn Mutual employees exemplify our Shared Commitment:

Doing what’s right today, together, for the promise of a brighter tomorrow.

The feelings are mutual: Care. Respect. Belonging.

About Penn Mutual and Penn Mutual Asset Management

Established in 1847, The Penn Mutual Life Insurance Company is committed to the noble purpose of helping individuals, families and small businesses make the most of life’s possibilities. As an original pioneer of mutual life insurance in America, we believe that our financial strength and mutual advantage support our ability to consistently deliver on our promises. We partner with trusted financial professionals around the country to serve the financial planning, protection, accumulation and distribution needs of their clients.

Penn Mutual Asset Management. LLC (“PMAM”) is a registered investment adviser and wholly owned subsidiary of The Penn Mutual Life Insurance Company. PMAM is focused on risk-based institutional asset management, advisory and investment operation services. We are dedicated to creating value through a prudent, thoughtful, and rigorous investment decision-making process. We tailor our proven approach to generate solid risk-adjusted returns that result in consistent earnings, while balancing the need for capital preservation to achieve each client’s strategy and goals. As of April 30, 2022, Penn Mutual Asset Management manages approximately $32 billion in client assets all of which is managed on a discretionary basis.

PMAM’s Investment Philosophy

Investing is one of the company’s core-competencies as evidenced by our strong, long-term track record of absolute and relative performance. Our current strong capital base has been bolstered over the years due to a focus on total return in addition to generating income to support the company’s products. Our investment philosophy centers on a top-down and bottoms-up approach that looks to identify with relative value at the sector, industry, company, and security level. We believe that relative value can only be made by having a fundamental understanding of the cause and effect relationships that impact an asset class or security. Our mutual structure allows us to have a long-term focus and make the best long-term economic decisions for the company. We operate in a total return environment; however, we must constantly balance that against the needs and constraints of the liabilities that our investments support.

Penn Mutual is committed to Equal Employment Opportunity (EEO). We provide employment and advancement opportunities to all qualified applicants and associates, according to applicable laws. This is reflected in our practices for hiring, placement, promotion, transfer, demotion, layoff, termination, recruitment, compensation, selection or training, and all other terms and conditions of employment. All employment-related decisions and practices are free from unlawful discrimination. This includes: race, creed, color, national origin, ancestry, citizenship, age, gender (including pregnancy), sexual orientation, gender identity or expression, domestic partnership or civil union status, marital status, genetic information, disability, religious observance or practice, liability, veteran status or any other classification protected under applicable law. Leaders may, at their discretion, change the responsibilities in this position description at any time due to reasonable accommodation and/or other business reasons.