AVP Accounting

Munich Re Careers•New York, NY

5d•$186,000 - $215,000•Hybrid

About The Position

Munich American Reassurance Company (MARC) is seeking an Assistant Vice President, Accounting who will be responsible for managing and overseeing the reinsurance/technical accounting and elements of non-technical accounting close for both IFRS and STAT. Reporting to the 2nd VP, Accounting and Financial Reporting, the AVP, Accounting will partner closely with MRAS Investment Accounting, Corporate Actuarial, Reinsurance Operations, other workstreams within Finance, and global Munich departments including Reinsurance Controlling (RIC) and Reinsurance Accounting (RIA). This role will also focus on overseeing the deployment of best practices to achieve a stable end-to-end reinsurance/technical accounting process including challenging existing processes and the key control framework. This role will own the books and records for actual results, partnering closely with stakeholders who influence reported figures and challenging processes when financial entries are requested by the accounting team. In addition, you will require a strong understanding of how the overall processing of transactions fits into the broader Munich Re group financial statements as well as local STAT financial statements.

Requirements

CPA required
10+ years of progressive accounting experience
Insurance/Reinsurance experience required
Public accounting experience preferred
Creation and/or review of journal entries, including accounting accruals, estimates and subjective accounting for technical accounting
Application of STAT and IFRS Accounting policy to daily, monthly and quarterly accounting in functions overseen
Authorizations and recommendations for approval of certain write off balances and amounts within defined thresholds based on account balances and impact of write off
Accounting decisions on defined benefit plan (Pension) and deferred compensation plan accounting and journal entry authorization for multi-million pension liability
Oversight and governance of the control environment of reinsurance accounting, investment accounting, cash and pension
Reconciliation and risk tolerance decisions on reconciling items
Ownership and sign-off of investment schedules for regulatory filings (e.g. Bluebook schedule Ds, etc.) and audited financial statements
Oracle system experience preferred, SAP system experience a plus
IFRS and Insurance Statutory accounting experience preferred
Excellent communication, organizational and time management skills
Strong project management and ability to motivate a team towards a common goal, effectively works in a team environment and on an individual/independent basis
High degree of attention to detail, documentation skills are proficient and concise
Continuous improvement mindset, ability to handle multiple projects simultaneously by prioritizing tasks
Proficiency in Excel and Power BI

Nice To Haves

Public accounting experience
Oracle system experience
SAP system experience
IFRS and Insurance Statutory accounting experience

Responsibilities

Own the management and quality assurance over all accounting functions, including reinsurance/technical accounting (premiums, claims, reserves, etc.) and non-technical accounting (investments, pensions, cash, etc.) for IFRS and STAT
Review and approve journal entries, reconciliations, and disclosures for non-insurance areas such as pensions, leases, and intercompany
Review accounting research and resolve complex or new reinsurance treaties, transactions, and investment structures as required
Review key analyses and documentation, including impairment analyses, fluctuation analyses, and footnote disclosures prepared by the MRAS Investment Accounting Shared Service Center
Achieve alignment with Munich Re’s Reinsurance Accounting (RIA) Department on global governance and requirements, including IFRS accounting, Plan, and Forecast figures
Oversee the deployment of best practices to maintain a stable end-to-end reinsurance/technical accounting process, including challenging existing processes and the control framework
Supervise the Reinsurance Accounting and General/Non-Technical Accounting teams to ensure timely and accurate execution of accounting entries, reconciliations, analytics, and key controls
Responsible for hiring, training, and supervising staff within the Accounting workstream in Finance
Oversee the development, maintenance, and documentation of controls to ensure compliance with internal control requirements (ORCS and MARSOX)
Act as the primary liaison with internal and external auditors