Reinsurance Accounting Controller

Job Summary

Manages the daily operations of the department including planning, prioritizing, directing the workflow, and interfacing with senior management and corporate department managers. Assists with overseeing the monthly financial close process including processing reinsurance transaction through reinsurance system. Posts to general ledger. Assists in review and analysis of underwriting results, detailed understanding of journal entries and account reconciliations, reinsurance, and ensuring that all transactions including cash transactions are appropriately supported and recorded. Oversees preparation of statutory quarterly and annual filings related to Reinsurance. Includes interactions with both internal and external auditors. Works closely with other departments on special projects including but not limited to Data Governance, ODS 2, Data Lake, conversions of new lines of business into RSC, assumed reinsurance into RSC for Part One Schedule F and potential BOT processes.

Key Responsibilities

• Review and approve journal entries for department, financial analysis, quarterly and annual filings, research, and other tasks as needed.
• Provide timely and accurate financial reporting services to senior management and reinsurance brokers/reinsurers.
• Review the input of new reinsurance contracts in the reinsurance system and confirm appropriate results after entry.
• Oversee collections and reporting of recoverables from reinsurers.
• Perform internal control procedures and exercise initiative to identify and explain variances and unusual items.
• Work with other departments (heavy emphasis on IT department) on special projects related to accounting and reinsurance data.
• Interact with both external and internal auditors related to financial results and reinsurance transactions.
• Constantly review and recommend changes and improvements to financial and accounting and reinsurance policies, processes, procedures, and technology to meet internal and external reporting requirements, improve operation efficiency, and safeguard corporate assets. Assist the Lead in planning and executing implementation, utilizing team members to assist.
• Ensure business transactions are properly authorized and executed and in compliance with accounting policies and procedures, GAAP, Statutory Accounting Principles, and Sarbanes-Oxley (SOX).

Competencies

Planning

• Direct development of both short-term and long-term plans for designated area of the organization.
• Coordinate resources to ensure strategies are executed.

Communication

• Communicate team or group plans or results, internally and externally, at all organizational levels.
• Write, or is a major contributor to, management/technical reports or contractual documents.
• Present informational briefings.

Cost Management

• Develop and accountable for budget of department or multiple work units.
• Develop innovative ways to improve financials.

Business Controls and Policies

• Comply with all corporate policies and procedures.
• Identify control objectives for designated function and implement cost-effective controls designed to meet those objectives.
• Test controls to determine if they are performing as intended.

 #LI-KM2
#IND123

People Management

• Works alongside Reinsurance Director with respect to HR responsibility for direct reports including making hiring decisions, training, coordinating work, establishing standards, reviewing work, conducting performance appraisals, and providing coaching or counseling.

Requirements

• 4 year Bachelors Degree in Accounting, Finance or a related field or the equivalent education and/or experience
• 8 years relevant and progressive experience in area of specialization, preferred experience within Reinsurance
• Minimum of 5 years of insurance company experience
• 5 years of leadership experience
• Certified Public Accountant (CPA) designation or working towards CPA designation preferred
• Possess and have ability to apply advanced knowledge of principles, practices, and procedures
• Excellent written and verbal communications skills with an emphasis on confidentiality, tact, and diplomacy
• Superior organizational and analytical skills; demonstrated ability to manage multiple tasks simultaneously
• Knowledgeable of industry changes, legal updates, and technical developments related to applicable area of the Company’s business to proactively respond to changing business environment
• Advanced proficiency and experience using Microsoft Office package (Excel, Access, PowerPoint, Word)