Investment Accounting 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
This position is responsible for supporting Munich Re America Services investment accounting function, including the preparation or review of balancing schedules, Munich Re required schedules, financial statement footnotes and disclosures, as well as management, regulatory and rating agency investment reporting. These activities encompass from one to three accounting bases and involve complex and at times, time sensitive tasks. The position also encompasses working on Investment Accounting related projects as well as working with BlackRock Financial Services personnel; BlackRock is the third-party accounting agent supporting the investment accounting process.
Responsibilities:
- Balance the monthly and quarterly data generated by the PAM investment accounting system. These tasks encompass the reconciling of PAM related reports (journals, production reports and statutory reports) as well as reconciling investment data to the Global Template general ledger.
- Create schedules, which permit the monitoring, from an accounting perspective, of investment related activities - such as investment income and asset classifications.
- Compile, reconcile, analyze, troubleshoot and report on a broad array of investment accounting related topics during the fast close.
- Complete financial requests including creation of multiple ad-hoc reports.
- Responsible for the timely analysis, reconciliation and balancing of the monthly service provider investment interface package as well as the completion and review of the data tied to the global investment database within prescribed deadlines. This includes compiling and reconciling investment interface information and identifying and resolving reconciling items. Communicate issues of significance to various parties, including the Munich Re global investment database Data Management Team, the third-party accounting agent, Munich Re America's asset manager, as well as management personnel.
- Prepare monthly and quarterly variance analysis and review plausibility checks associated with affiliated investment interface files.
- Assist Investment Accounting Lead & Manager on various projects, as requested. Ensure monthly, quarterly and annual investment financial filings and reports (including financial statement footnotes) are correct and in accordance with regulatory, management and inter departmental guidelines. Review and maintain supporting documentation for internal and external audits, GAAP/STAT/IFRS statements and monthly investment interface deliverables.
Successful candidates will possess the following experience, skills, and capabilities:
- Bachelor of Science in Accounting or equivalent experience, CPA degree a plus.
- Knowledge of investment accounting and reporting - Expectation is that this individual has at least 4 to 5 years investment accounting experience.
- Strong analytical skills.
- Sound written and oral communication skills.
- Strong time management skills and the ability to adhere to strict deadlines.
- Ability to think critically, analyze, prioritize, take initiative and problem-solve under pressure.
- Strong knowledge of spreadsheet and database applications (Excel and Access).
- Knowledge of US statutory and GAAP accounting principles. Knowledge of IFRS accounting guidance preferred.
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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