Job Summary
The Reinsurance Accounting Leader leads the team responsible for providing financial reporting and accounting expertise to ensure accurate and timely recording and reporting of transactions. This includes the onboarding of new strategic transactions and administration of existing transactions. The role collaborates closely with various business areas and internal stakeholders to evaluate the structure of a diverse set of transactions to identify and communicate accounting issues, propose accounting solutions, and communicate status. This role is responsible for GAAP and Statutory reinsurance reporting deliverables and leading the team in efforts to continually enhance reporting, analytical and controls oversight.
Job Responsibilities
- Leads the teams responsible for the preparation and review of financial statements, including balance sheets, income statements, and cash flow statements and ensures that financial statements are accurate, complete, and in compliance with accounting standards.
- Ensures organizational compliance with GAAP regulations as they relate to corporate and insurance accounting, including research, review, technical interpretation, and implementation. Understands, evaluates and concludes on risk transfer on both a GAAP and Statutory basis.
- Leads teams of professionals and administrative staff who are responsible for the timely and accurate completion of all the internal and external financial reporting for the property and casualty insurance companies (statutory basis and GAAP basis).
- Oversees the research and application of accounting guidance to complex reinsurance transactions and structures to ensure compliance. Understands, evaluates and concludes on risk transfer on both a GAAP and Statutory basis.
- Partners with leadership and IT to evaluate and implement technology solutions that streamline and automate accounting and reporting of business transactions by providing subject matter expertise on the relationship of applicable systems and data required to account for and support administration current and new ongoing transactions.
- Leads the analysis of the impact of changes on the monthly financial and operating results, isolates and explains key variance items, identifies areas for improvement, and makes recommendations for maximizing opportunities.
- Oversees the timely and accurate reporting of activity to support the monthly and quarterly financial close process. Develops control processes to ensure procedures are in place to support internal controls and ensures appropriate cross-training. Challenges the team to identify and implement process improvement opportunities, which could include streamlining workflows, enhancing data analyses or implementing automation tools to increase efficiency and accuracy.
Job Qualifications
- 10+years of experience in Financial Accounting/Reporting or a related field. Bachelor's degree in Accounting, Finance, Business, or a related field and/or commensurate experience.
Behavioral Competencies
- Directs work
- Collaborates
- Develops talent
- Strategic mindset
- Customer focus
- Communicates effectively
- Ensures accountability
- Drives vision and purpose
- Decision quality
- Business insight
- Nimble learning
- Builds effective teams Manages complexity
Technical Skills
- Accounting software & tools
- Financial statement analysis
- Budget management
- Financial controls
- Project management
- Accounting & reconciliation
- Risk management
- Auditing compliance
- Auditing Taxation
This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.