Subsidiary Accountant Sr
We’re adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.
The Company
As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages to niche and specialty reinsurance and insurance products.
The Opportunity
Future focused and always one step ahead
This position will support the subsidiary financial reporting process and have primary responsibility for managing the accounting for infrastructure and real estate limited partnerships. Subsidiary financial reporting includes all non-statutory companies in the group and several individual entities. Responsibilities include:
- Overseeing the analysis and preparation of selected entities' financial data and reports under International Financial Reporting Standards (“IFRS”) and under US Generally Accepted Accounting Principles (“GAAP”).
- Overseeing the preparation and submission of selected quarterly IFRS financial statements and footnotes as part of Munich Re’s worldwide corporate close system.
- Leading the review and processing of financial reports prepared by third-party providers, including understanding the complexities associated with limited partnership accounting as well as an understanding of infrastructure and real estate operations and taking the lead in communicating this information to both internal and external parties.
Responsibilities:
- Liaise with third-party accountants performing day-to-day accounting activities for:
- Infrastructure and Real Estate limited partnerships.
- Proper booking of transactions.
- Review financial statements, review/initiate cash funding requests and process the underlying financial statement information into the general ledger and consolidation systems. This includes preparing and reviewing the quarterly journal entries for Subsidiary Infrastructure and Real Estate Companies.
- Prepare and/or review management financial reports for assigned Subsidiary Companies.
- Assist with preparation of annual budgets, quarterly forecasts and dividend calculations for Subsidiary Infrastructure and Real Estate Companies, as required.
- Work closely with Munich Re Financial Reporting personnel as well as other departments in the completion of inter-group account balancing process, to meet deadlines as well as accurately process the submission of final inter-group balances in the system.
- Prepare the required IFRS data files to produce footnotes of Subsidiary companies, as assigned. Ensure the satisfactory resolution of all footnote-related issues.
- Resolve reporting issues arising from new system implementations, new IFRS reporting guidance, new or changed Munich Re accounting/reporting, new limited partnerships or other reporting structures, and new company or group transactions.
- Initiate billing of intercompany charges, as necessary.
Qualifications:
- B.S. in Accounting
- 5+ years’ experience in GAAP and/or IFRS financial reporting
- MBA and/or CPA
- Strong communication and analytical skills
- Ability to work independently and bring complex issues to resolution
- Strong attention to detail
- Ability to work under very tight deadlines
- Continually seeks to improve the accuracy and efficiency of the reporting process
- Experience with Limited Partnership reporting and accounting a plus
- Experience with SAP financial systems a plus
At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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