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In 2022, the Atlanta Journal-Constitution named Primerica one of the best places to work for the ninth consecutive year. Also in 2022, Primerica was named one of the Best Employers for Diversity by Forbes for the second consecutive year. Forbes also named Primerica as one of America’s best Insurance companies for 2022. Primerica ranks 6th among 25 companies included in the Term Life Insurance category. Over the past seven years Primerica has consistently been voted Best Employer by Gwinnett Magazine in its special "Best of Gwinnett" winner editions. Primerica is a great place to work! Join our team to experience what it’s like to work at “one of the best places to work in the metro Atlanta”.
About this Position
Responsibilities & Qualifications
The Revenue Accounting and Valuation Manager is responsible for the accounting of the lifetime value of commission revenue recognized for the Company's Senior Health segment. Responsibilities include developing the estimate for the lifetime value of commission revenue expected from the distribution of senior health insurance policies and the quarterly valuation of the renewal commission receivable recognized by the Company. In addition, this role will be responsible for administering the annual goodwill impairment analysis performed for the reporting unit and recognizing accounting entries for the amortization of acquisition-related intangible assets. This role will also participate in the research of technical revenue recognition concepts for changes in contractual relationships or new product lines relating to the Company's products that recognize revenue in accordance with ASC 606.
Revenue recognition for Senior Health Segment - Operate the Senior Health segment's revenue recognition valuation model. Perform controls effectively to ensure completeness and accuracy of the data input into the model and the outputs used to prepare revenue journal entries. Use data analytics to identify trends in commission data to ensure revenue lifetime value estimates are appropriate and continuously enhance the effectiveness of the model. Understand variances in activity and communicate results to executive management. Coordinate processes across corporate and segment leadership teams to ensure proper revenue recognition accounting.
Coordinate annual goodwill impairment analysis - Coordinate preparation of annual goodwill impairment analysis. Develop per unit lifetime value of commissions estimates and cash collection schedules. Document controls to assess the reasonableness of segment management's projected financial information. Collaborate with external specialists to determine key assumptions used to calculate the reporting unit's fair value. Coordinate with external auditors to complete audit of the goodwill impairment process.
Accounting for intangible assets - Prepare the amortization entries for the intangible assets on a quarterly basis. Monitor the assets to determine if there are any triggering events that would require an adhoc impairment analysis. Complete monthly/quarterly account reconciliations to support the balances.
Research Revenue Accounting Topics - Research technical revenue accounting concepts as they apply to the Company's Senior Health segment and other non-insurance contract product lines. Help develop revenue recognition accounting policies for new or modified contracts with customers.
Assist in the preparation of revenue disclosures included in financial statements - Review the Company's revenue recognition disclosures in financial statements and provide feedback to ensure disclosures are appropriate and consistent with US GAAP. Contribute to the preparation of analytical explanations for revenue in the Company's Senior Health segment.
Minimum Job Requirements and Qualifications
- Bachelor's degree or equivalent experience in Accounting, Finance, Data Science or related field
- 4 – 5 years of work experience with financial valuation and/or revenue recognition concepts
- Experience with the execution or testing of SOX 404 internal controls including the validation of the completeness and accuracy of data used to prepare valuation estimates
- Highly functional operating with data analytical tools including Microsoft Excel and Power BI
- Ability to understand how data elements are used by algorithmic models
Preferred Job Requirements and Qualifications
FLSA status:
This position is exempt (not eligible for overtime pay):
Yes
Our Benefits:
Day one health, dental, and vision insurance
401(k) Plan with competitive employer match
Vacation, sick, holiday and volunteer time off
Life and disability insurance
Flexible Spending Account & Health Savings Account
Professional development
Tuition reimbursement
Company-sponsored social and philanthropy events
It has been and will continue to be the policy of Primerica, Inc., and its subsidiaries to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, sex, color, religious creed, religion, national origin, citizenship status, age, disability, pregnancy, ancestry, military service or veteran status, genetic or carrier status, marital status, sexual orientation, or any classification protected by applicable federal, state or local laws.
At Primerica, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
