The posting
Lendistry is an Equal Opportunity/Affirmative Action Employer. We consider applicants without regard to race, color, religion, age, national origin, ancestry, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, veteran status, disability, genetic information, or membership in any other group protected by federal, state, or local law.
If you need assistance or accommodation due to a disability, you may contact us at [email protected]
Lendistry does not accept unsolicited resumes from recruiters, employment agencies, or staffing firms. To conduct business with Lendistry, a Master Services Agreement (MSA) must be executed and confirmed prior to submitting any information relating to a potential candidate. Without a signed MSA, Lendistry shall not be responsible to any individual or entity for any payment relating to any form of fee or compensation.
And, in the event that a resume or candidate is submitted by a recruiter, an employment agency, or a staffing firm without a fully executed MSA, Lendistry has the unrestricted right to pursue and hire any of those candidate(s) without any legal or financial responsibility to the recruiter, agency, and/or firm.
A Day in the Life
The VP Finance & Statutory Accounting is the senior financial officer of the annuity carrier platform during its formation and early operating phase. This is a combined role — intentionally designed to consolidate functions that would ultimately be separated across a Controller, a VP of Financial Reporting, and a VP of Financial Planning & Analysis as the carrier reaches scale. In the startup phase, one senior leader must own them all.
The VP of Finance & Statutory Accounting will build the carrier’s financial infrastructure from the ground up: establishing the statutory reporting framework, implementing the chart of accounts, executing the NetSuite–Equisoft integration, managing the purchase accounting process for the acquired shell, coordinating with the appointed actuary on reserves and capital, and producing the first statutory financial statements filed with the domiciliary state regulator.
This role requires a practitioner who understands the fundamental difference between statutory accounting principles (SAP) and GAAP — and who has operated within a life or annuity carrier’s finance function, not just alongside one.
Lendistry: Who We Are
We’re proud to be the nation’s largest minority-led, tech-savvy lender for small businesses and commercial real estate. As a certified Community Development Financial Institution (CDFI) and Community Development Entity (CDE), our mission is all about creating economic opportunities and fueling growth for small business owners and their communities. Join us as we pave the way with innovative financing and financial education!
Engagement Context
The Company is a newly formed annuity carrier operating within the following confirmed financial and operational status:
- Shell acquisition and redomestication in process
- Capital contributed; Investment Policy Statement in place
- Board and Finance/Audit Committee chartered
- Accounting system: NetSuite (integration to Equisoft PAS in progress)
- Policy Administration System: Equisoft
- Actuarial partner: Milliman (pricing, reserves, capital requirements)
- Outside accounting firm engaged for purchase accounting and tax
- Target product: MYGA (initial launch); FIA and RILA on development roadmap
- Reinsurance strategy in development
The VP of Finance joins an active carrier formation — not a planning exercise. The financial infrastructure does not yet exist. Building it is the job.
Coordination & Governance
Reports to (interim): Bridge Leader
Reports to (permanent): CFO or CEO, as organizational structure develops
Bridge Leader authority: Master project workplan, overall carrier standup, vendor governance
VP Finance authority: All financial reporting, statutory compliance, accounting operations, budget management
Milliman coordination: Monthly reserve review, capital reporting, RBC calculation — VP Finance owns the financial integration of actuarial output
Outside accounting firm: Purchase accounting, tax structuring, and audit — VP Finance is primary management liaison
Decision escalation: Capital calls, reinsurance treaty financial terms, investment policy changes escalate to Bridge Leader and CEO
What You’ll Be Doing
Short-Term (Days 1–180) — Build the Financial Infrastructure
- Statutory Chart of Accounts: Design and implement a statutory chart of accounts in NetSuite aligned to NAIC Annual Statement requirements for a life and annuity carrier. Establish account mapping logic between NetSuite and Equisoft for automated GL posting.
- NetSuite–Equisoft Integration: Co-own the accounting system integration with the VP of Operations. Define financial requirements, test GL posting logic, validate premium, commission, and reserve entries through first financial close.
- Purchase Accounting: Lead the financial accounting for the shell acquisition in coordination with the outside accounting firm. Manage purchase price allocation, opening balance sheet, and fair value adjustments for the existing carrier block. Ensure compliance with applicable GAAP and SAP purchase accounting standards.
- Statutory Reporting Framework: Establish the statutory reporting infrastructure required for NAIC Quarterly and Annual Statement filings, including the Actuarial Opinion Memorandum coordination with Milliman, risk-based capital (RBC) calculation, and state premium tax returns.
- First Financial Close: Execute the first monthly close on a timetable consistent with regulatory reporting requirements. Establish close procedures, account reconciliation standards, and financial controls documentation.
- Seller Communication — Financial: Manage all financial aspects of communications with the seller, including cession operations, existing block reserve settlements, and transition services payments, in coordination with the Bridge Leader and outside counsel.
- Investment Accounting Setup: Establish investment accounting in coordination with the investment manager, including Schedule D reporting, interest accrual, unrealized gain/loss tracking, and asset-liability management data feeds to Milliman.
Long-Term (Months 6–24+)
- Develop and execute the carrier’s long-term financial strategy in alignment with the Three-Year Insurance Strategy Roadmap.
- Build the internal finance organization, including Controller, financial reporting, FP&A, and reinsurance accounting functions, in accordance with the organizational design and hiring plan.
- Transition from hands-on operator to executive manager of the finance function as staff are hired and roles are separated.
- Lead the carrier through its first full statutory audit cycle, including coordination with the appointed actuary, outside auditors, and domiciliary state examiner.
- Develop and manage the carrier’s capital management framework, including surplus monitoring, dividend capacity planning, and reinsurance capital relief strategy.
Ongoing
- Statutory Financial Statements: Produce accurate and timely NAIC Quarterly and Annual Statement filings. Own all associated schedules including Schedule A (real estate), Schedule B (mortgages), Schedule D (bonds and stocks), Schedule DA (short-term investments), and the actuarial-linked exhibits.
- Reserve & Capital Coordination: Integrate Milliman’s reserve and RBC outputs into the statutory ledger. Own the financial elements of the Actuarial Opinion process. Monitor surplus and RBC ratios against regulatory minimums and Board-established targets.
- Reinsurance Accounting: Manage all reinsurance cession accounting including assumed/ceded premium reporting, treaty settlement statements, recoverable tracking, and Schedule F preparation.
- Budget & Forecast: Develop and maintain annual budgets, rolling forecasts, and long-range capital plans. Report variance analysis to the Bridge Leader and executive leadership with actionable commentary.
- Cash Management: Oversee daily cash management, bank account structure, and liquidity monitoring. Coordinate with the investment manager on portfolio cash flows and investable surplus.
- Tax Compliance: Manage state premium tax filings, retaliatory tax analysis, and coordination with the outside accounting firm on federal and state income tax obligations. Ensure compliance with insurance-specific tax rules including DAC tax and reserve deductions.
- Internal Controls: Design, implement, and document the carrier’s internal control framework aligned to SOX-equivalent standards appropriate for the Company’s scale and regulatory environment.
- Board & Regulatory Reporting: Prepare financial materials for the Board Finance/Audit Committee, respond to state examination inquiries, and manage relationships with the domiciliary state’s financial analysis division.
- Vendor & Partner Oversight: Manage the financial relationships with NetSuite, the outside accounting firm, investment custodians, and reinsurance counterparties.
Your Areas of Knowledge and Expertise
Required
- Bachelor’s degree in Accounting, Finance, or a related field; CPA required
- Minimum 8 years of progressive finance and accounting experience
- Minimum 5 years of experience within a life insurance or annuity carrier’s finance or accounting function — this is a non-negotiable domain requirement
- Direct, hands-on experience with statutory accounting principles (SAP) and NAIC Annual Statement preparation — not just exposure
- Demonstrated experience with insurance carrier statutory reporting including RBC calculation, actuarial opinion coordination, and Schedule D investment reporting
- Experience with policy administration system accounting integration — mapping PAS transactions to a statutory general ledger
- Demonstrated experience building a finance function from scratch in a startup, greenfield, or de novo carrier context is strongly preferred
- Strong analytical, problem-solving, and communication skills capable of translating statutory accounting complexity into board-level clarity
Preferred
- Experience with NetSuite in a statutory accounting or insurance context
- Experience with purchase accounting for an insurance company acquisition
- Working knowledge of Texas Department of Insurance (TDI) financial examination and reporting requirements
- Experience with reinsurance accounting including treaty settlement and Schedule F preparation
- Familiarity with MYGA, FIA, or RILA product accounting including surrender charge amortization, interest crediting accrual, and deferred acquisition cost (DAC) treatment
- Experience managing the transition from a BPO-supported accounting model to an internal function
Preferred Credentials
- Certified Public Accountant (CPA) — required
- Associate of the Society of Actuaries (ASA) or Certified Financial Examiner (CFE) — a plus, not required
Compensation Range
The US base salary range for this full-time position is $115,000 - $140,000 annually.
Our salary ranges are determined by role, level, and location.
The range displayed on each job posting reflects the minimum and maximum base salary for new hires for the position across all US locations. Within the range, individual pay is determined by multiple factors like job-related skills, experience, and state of residence. Your recruiter can share more about the specific salary range during the interview process.
Please note that the compensation details listed in US role postings reflect the base salary only, and do not include any variable compensation elements.
Physical Requirements
This is a stationary position that requires frequent sitting (approximately 95%), repetitive wrist motions, grasping, speaking, listening, close vision, and the ability to adjust focus. It also may require occasional standing, lifting, carrying of 20lbs or less, walking, kneeling, bending/stooping, twisting, pulling/pushing, and reaching above the shoulder. Employees in this position must be physically able to efficiently perform the essential functions of the position.
ACKNOWLEDGEMENT B.S.D. Capital, Inc. dba Lendistry is an equal employment opportunity employer committed to providing its employees, applicants and other covered persons with equal opportunities without regard to race, color, age (40 or older), religious creed (including religious belief, practice or dress and grooming practices), national origin, ancestry, physical disability, mental disability, medical condition, genetic information, marital status, sex, gender (including pregnancy, childbirth or medical condition related to pregnancy or childbirth), gender expression, gender identity, sexual orientation, military or veteran status (including past, current or prospective service), or any other characteristic protected under applicable federal, state or local law.
