Munich Re Life US is hiring for a Financial Accounting Manager to oversee and manage non-technical accounting functions of Investments and defined benefit/defined contribution plans.
- Accountable for defined benefit/defined contribution plan accounting which includes: coordinating with the actuarial specialist (PWC) and preparing related elements of quarterly and annual reporting (i.e.: accruals, expense and footnote disclosures).
- Responsible for MAR/ICS compliance for all financial processes responsible for, to ensure a comprehensive system of internal controls designed to mitigate risk and enhance the accuracy of the company's reported financial results.
- Responsible for investment elements of BSCR reporting requirements and the Bermuda annual audit.
- Responsible for purchase accounting, SCA accounting and new entity set-up, whenever necessary. Serve as the liaison among affiliate entities to ensure consistently applied accounting treatment across the board.
- Manage and oversee the entire investments function, including responsibility for investment reporting (STAR, AMBest, NAIC, etc.) and investment plan/forecast.
- Assume lead position on complex and new investment structures. Provide accounting research and resolutions as required.
- Own the management oversight function of the investment accounting provider. Work to proactively manage the provider in areas where there is heightened risk.
- Support function on all Investment Officer strategic projects, including restructuring of portfolios, derivatives, alternative investment strategies, etc.
- Execute the investment income allocation methodology in SAP.
- Monitor the portfolio’s unrealized losses that meet the criteria of impairment losses.
- Oversee the calculation and bookings of AVR and IMR.
- Create, maintain and set the close calendar for managed areas, and management of deliverables to parties such as the auditors and Munich Re.
- Ensure that all aspects of non-technical accounting are complete, accurate, exist and are properly disclosed.
- As it relates to non-technical accounts, maintain and ensure completeness and accuracy of the structure of the general ledger(s), the appropriate accounts within the Chart of Accounts as per Oracle, Global Template (SAP) and mapped to ECON.
- ICS and MAR compliance for non-technical areas managed, including preparation of reconciliations and journal entries.
- Manage team of one or more individual contributors.
- CPA required
- 8+ years of experience
- Public accounting experience preferred (minimum of 3 years)
- Insurance Experience required (8+ years of progressive leadership roles in insurance company's finance organization)
- SAP and PAM experience preferred
- IFRS Accounting experience preferred
- Statutory Accounting and Reporting experience required
- Managed and delivered large-scale finance system projects
- Proficient with accounting experience in investment, benefits/payroll, intercompany and equity
- Reviewed account reconciliations and built quality controls to detect issues in accounting before quarter-end
- Managed close calendar and delivered all aspects of the general ledger and accounting functions
- Sarbanes-Oxley experience including documentation and maintenance of process documentation.
- External audit management experience required