Sr. Investment Tax Analyst

Job Summary

The Sr. Investment Tax Analyst will have primary responsibilities in investment taxation. This position will be responsible for preparing all facets of income tax accounting and income tax compliance for F&G’s Investment portfolio, including bonds, fixed maturities, and preferred stocks. The responsibilities also include quarterly income tax provision workpaper preparation, Federal income tax compliance workpaper preparation, investment tax data integrity reviews, investment accounting systems (Clearwater) support, tax planning support, and special projects.

Duties & Responsibilities

• Perform, and/or review monthly tax investment data review procedures to help ensure reasonable and accurate tax results for assets tracked within Clearwater. This includes – but is not limited to – the new purchase review, asset transfers review, security master file review, corporate actions review, tax data field reviews, researching and identifying variances & exceptions. Work with Clearwater to resolve discrepancies and identify opportunities for management reporting package or dashboard.
• Prepare income tax adjustment calculations and workpapers, including reconciliations and period-over-period analytics, for inclusion in the quarterly current income tax provisions.
• Prepare workpapers and reconciliations to support the tax basis and deferred tax assets reported on the tax basis balance sheet for both life and non-life entities under ASC-740 and SSAP101. Perform tax basis analytics on a period over period basis.
• Prepare income tax adjustment calculations and workpapers in support of the company’s life and non-life entity Federal income tax returns. Prepare and analyze provision-to-return true-ups.
• Actively participate in new investment process meetings with the tax planning team.
• Assist in implementing the investment tax basis ledger and OneSource Tax Provision (OTP) software
• Assist in the quarterly GAAP capital valuation allowance assessment process, including calculating the capital valuation allowance, developing tax planning strategies, and preparing the quarterly GAAP valuation allowance memo.
• Collaborate with other members of the investment tax team to develop forecasting & projection procedures for in-scope invested assets. Prepare investment-related adjustments for current and deferred taxes forecasting and analyze the results.
• Assist in maintaining, testing, and updating of custom tax fields, tag aggregates, and tax reports within Clearwater, including reports utilized by other teams within the tax department and external partners.
• Prepare the quarterly tax impairment analysis, which includes analyzing and documenting a security’s eligibility for a partially worthless bad debt deduction, calculating the bad debt deduction, and ensuring all tax write-downs are properly processed in Clearwater. Work with Clearwater to resolve any discrepancies.
• Provide support for ongoing modernization initiatives within the investment tax function and tax department in general, including automation efforts around the monthly tax data review processes, tax basis ledger, and investment deferred tax rollforwards. Identify opportunities for process improvement, propose and implement solutions.
• Assist in performing tax leakage calculations related to reinsurance transactions.
• Perform proper internal controls and help drive continuous improvements to the investment tax control environment.
• Responsible for building out assigned investment tax dashboards, investment tax management reports, and tax department-wide reporting packages & dashboards.
• Participate in and lead relevant internal meetings with Investment, Investment Accounting, and Tax department personnel.
• Contribute to special projects, as assigned.

Supervisory Responsibilities:  This role does not have formal people leadership responsibilities but may provide guidance, mentorship, or subject matter expertise to others.

Knowledge, Skills & Abilities

• Demonstrated working knowledge of tax accounting and/or general accounting principles.
• Demonstrated knowledge of tax accounting software systems.
• Strong analytical skills with a high level of accuracy and attention to detail.
• Strong organizational and prioritization skills.
• Strong computer knowledge including working knowledge of tax and accounting based software (Clearwater, Essbase), spreadsheets and word processing software.
• Proficiency with MS Excel; familiarity with Data mining/SQL skills, Bloomberg.
• Strong verbal and written communication skills.
• Ability to effectively work and communicate with various levels of employees and management.
• Highly motivated, able to work both autonomously and in a team environment, and demonstrates the willingness to take on additional responsibilities, as needed.
• High-energy and ability to thrive in a fast-paced environment.
• Ability to identify and implement process improvements, internal control enhancements, automation and efficiencies.
• Ability to brainstorm, research and provide possible solutions to ad hoc questions from the functional area’s business partners.
• Willingness and enthusiasm to learn/train in skills needed to support the Tax Department.
• Ability to manage multiple projects independently.
• Use of general office equipment and may require sitting for extended periods of time.
• May require minimal travel within the US.

Minimum Qualifications

Bachelor's Degree in Accounting/Finance

Years of Experience

2+ year of relevant experience

• in related field or combination of experience with a professional designation (CPA, CFA, CIA, CISA, etc.) considered.
• Insurance industry experience preferred
• Experience working in regulated environment.

Other Requirements

• This position primarily involves sedentary work, requiring long periods of sitting, regular use of a computer, and occasional standing or walking, with reasonable accommodations available.
• Perform other functions, duties and projects as assigned
• Regular and punctual attendance

Ability to travel up to:  10% of the time

#LI-MB1 #LI-Remote