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Vice President Tax – Midwest Life Insurance Company



Vice President Tax - Midwest Life Insurance Company

The Vice President Tax is the head of tax for all the companies that operate under this privately held parent. The Vice President Tax will be responsible for overseeing and managing the tax function and all relationships with external and internal business partners and identify areas of risk and opportunity for the company including:

  • Manage the co-sourcing agreement with the Companies’ external tax accounting firm for the preparation of the statutory and GAAP income tax provision and accrual, and the tax return preparation and compliance matters for income, premium, property and sales/us
  • Manages all Companies’ tax audits and examinations and negotiates settlement of disputed issues with the Internal Revenue Service and other regulatory bodies.
  • Represents the Companies at the highest levels of appeal in negotiations regarding tax deficiencies.
  • Controls tax planning responsibilities for all Companies including short and long-range planning to reduce tax expenses to the legal minimum.

  • Consults with senior management regarding life, annuity, disability, retirement plans, banking, and other product tax issues.
  • Oversees the preparation of all tax information returns and acts as consultant on tax reporting to all areas.
  • Acts as consultant to management, agents, and other associates on tax matters throughout the Companies.
  • Participates at the highest management levels in the tax review of corporate acquisitions and dispositions, and reinsurance arrangements of all of the Companies.
  • Participates in the development of investment policy and strategies to maximize the after-tax income of the Companies.
  • Participates with and supervises the activities of the Companies’ external tax accounting firm on special projects involving tax matters.
  • Oversees state and local tax incentive programs, including the Companies’ participation in the sales and use tax refund program. Negotiates contracts, establishes compliance programs, and maintains procedures to take maximum advantage of such programs.
  • Engages with developers, brokers, and legal counsel to identify and contract for the procurement of premium tax credits at discounts to minimize premium tax expenses.
  • Participates with personnel in the Federal Government Affairs Office to educate others on the income tax advantages of insurance and other products.
  • Maintains effective working relationships with all outside contacts including the Internal Revenue Service, outside attorneys, public accountants, and government officials.

Qualifications Required

  • Extensive background and technical understanding of corporate insurance tax products and services, and insurance operations
  • Ability to analyze, interpret, and utilize significant data to make sound business decisions; Excellent planning and leadership skills
  • Ability to effectively communicate and make presentations to corporate officials, clients, brokers, rating agencies, and community leaders
  • Seasoned knowledge and background in accounting principles and practices, and ability to develop this technical knowledge in others
  • Aptitude for working with complex subject matter; a feel for working with the tax law in a practical way, and decisiveness

The role requires a hands-on business executive who is a team player with good judgement and understands the importance of building business processes; and an individual who can effectively communicate strategic business options to management. The VP Tax role requires an individual with a minimum of fifteen to twenty years’ corporate and public accounting experience. A Bachelor’s in Accounting along with a CPA and/or MST Degree preferred.

Contact kat@taxconnections.com or call 858.999.0053.

 

 

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TaxConnections Admin

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