Assistant Controller - 5Star Life Insurance Company

Company: Armed Forces Benefits Assoc.
Location: Alexandria
Posted on: April 3, 2026

Job Description:

Job Description Job Description Life Insurance CPA – Assistant Controller We are seeking a highly skilled Life Insurance CPA to join our Finance and Accounting team as an Assistant Controller. This role requires deep, hands-on experience specifically within the life insurance industry. This critical role supports both Statutory Accounting Principles (SAP) and GAAP reporting for a life insurance organization, ensuring compliance, accuracy, and timeliness across all financial and regulatory reporting requirements. The successful candidate will be a subject-matter expert in life insurance accounting, comfortable navigating complex statutory reporting, audits, and regulatory expectations. The ideal candidate brings extensive life insurance accounting expertise, a proactive and hands-on approach to problem-solving, and demonstrated leadership experience managing accounting teams and close processes in a regulated insurance environment. Key Responsibilities - Lead the monthly and quarterly close process for a life insurance entity, supporting both GAAP and SAP reporting with accuracy and timeliness. - Ensure compliance with life insurance statutory accounting requirements, including regulatory filings and disclosures. - Implement and maintain compliance with new accounting standards and regulatory updates impacting life insurance companies. - Analyze financial fluctuations and identify key drivers specific to life insurance operations. - Develop and manage short-term liquidity forecasts to support life insurance cash flow needs and investment activities. - Ensure consistency and accuracy in SAP & GAAP schedules and footnote disclosures for life insurance financial statements. - Oversee financial audits, serving as a primary liaison with external auditors and regulators. - Identify and implement process improvements to enhance efficiency, accuracy, and control within the life insurance accounting function. - Strengthen internal controls and support policy development in partnership with the Controller. - Participate in special projects and ad-hoc financial analysis related to life insurance reporting and regulatory initiatives. Qualifications Education & Certification - Bachelor’s degree in Accounting (required) - CPA certification (required) Required Experience - 10 years of progressive accounting experience within the life insurance industry - Direct experience with SAP and GAAP reporting for life insurance companies is required - Proven leadership experience supervising and developing accounting staff in a regulated insurance environment Skills & Knowledge - Expert-level knowledge of life insurance SAP and GAAP accounting principles, including Blue Book guidance and audited statutory financial statements - Strong understanding of life insurance regulatory reporting and audit requirements - Advanced Excel skills (VLOOKUP, Pivot Tables, SUMIF) - Experience with INFOR General Ledger and Prophix reporting tools - Strong analytical judgment and problem-solving abilities - Excellent written and verbal communication skills - Ability to manage multiple priorities and meet deadlines in a fast-paced, compliance-driven environment Work Environment This is a hybrid role requiring onsite presence in our Alexandria, VA office three days per week. We offer a collaborative and supportive work environment with opportunities for professional growth and leadership development within the life insurance industry. About Armed Forces Benefit Association (AFBA) and 5Star Life In 1947, AFBA emerged from the basement of the Pentagon to solve a critical need in support of the military. More than 75 years later, our commitment to those who serve and to solving their unique problems remains core to everything we do. Founded to provide military members with a death benefit no one else would, we continue to embrace our mission and deliver benefits tailored to the real-life needs of all who serve today, including active duty, National Guard, and first responders. Providing protection to those who go in harm’s way, we ensure survivor and other benefits are available to all who serve, defend, and protect our great nation, no matter what. 5Star Life Insurance Company was founded in service and carry that mission today by committing to serve those who serve, from underwriting benefits for military and first responder families to providing coverage to the employees that keep our communities running. Our commitment to our communities – rather than the bottom line- drives our business. Benefits we offer: - health insurance (medical, dental, and vision) - flexible spending accounts (medical and dependent care) - 401k plan with generous employer match - paid time off - paid holidays (12) - life insurance - short- and long-term disability insurance - employee assistance program - professional development & tuition reimbursement - career growth opportunities - on-site gym and locker rooms (Alexandria, VA office only) - friendly, collaborative culture Qualified people of all races, ethnicities, ages, sex, genders, sexual orientations, national origins, gender identities, marital status, religions, veterans' statuses, disabilities, and any other protected classes are strongly encouraged to apply. As an equal opportunity workplace, we are committed to creating an inclusive environment for all employees. AFBA and 5Star Life Insurance Company endeavors to make reasonable accommodations to the known physical or mental limitations of qualified applicants with a disability unless the accommodation would impose an undue hardship on the operation of our business. If an applicant believes they require such assistance to complete the application or to participate in an interview, or has any questions or concerns, they should contact Human Resources (hr@afba.com). EEO is the Law (Link to external DOL site). AFBA and 5Star Life Insurance Company is an Equal Opportunity Employer and an E-Verify Employer.

Keywords: Armed Forces Benefits Assoc., Silver Spring , Assistant Controller - 5Star Life Insurance Company, Accounting, Auditing , Alexandria, Maryland