Senior Financial Analyst-Reinsurance

Legal & General America • Frederick, MD

2d

About The Position

At Legal & General America (LGA), we aim to make a positive difference in the lives of our customers, partners, colleagues, and the communities in which they live. As a recognized market leader of term life insurance, we’re working to transform our business through innovation and technology to provide products and solutions that help American families secure their financial futures. We are a future-focused company, passionate about what we do and how we do it. This means working with pace and energy to reach our goals and challenging ourselves to achieve more. We strive to create a unique environment where balance between work and life is possible. Our employees' passion, dedication and hard work, as well as our career development opportunities, benefits, and employee activities contribute to our positive workplace culture. The Financial Reporting, Senior Financial Analyst will prepare monthly, quarterly, and annual financial reinsurance reporting and analysis in support of LGA and subsidiary financial statements on United States (US) statutory, International Financial Reporting Standards (IFRS), and/or Bermuda statutory accounting bases. This role will review and/or prepare technical accounting papers analyzing reinsurance agreements for transfer of risk, impact analysis, and other pertinent information. This role supports delivery of contractual reinsurance information on a timely basis.

Requirements

• BS in Accounting or equivalent four-year college degree
• Minimum 3 - 5 years of relevant experience in finance/accounting role
• Knowledge of reinsurance structures and relative accounting treatments (i.e coinsurance, modified coinsurance, funds withheld, excess of loss, etc.)
• Knowledge of US Statutory accounting/RBC required; knowledge of IFRS or Bermuda statutory accounting a plus
• Financial statement preparation or audit background preferred
• Knowledge of individual life insurance/annuities; knowledge of pension risk transfer (PRT)/annuities strongly preferred
• Ability to build analytics and models, identify key drivers, and communicate to different audiences
• Experience working with customer/stakeholder roles and/or cross functional teams preferred
• Positive demeaner, resilience, confidence in own judgment, and passion for taking on new challenges
• Strong analytical and problem-solving skills
• Well organized and high level of initiative
• Detail oriented, with ability to handle several tasks with a high level of accuracy
• Excellent oral and written communication skills
• Ability to work independently and effectively
• Ability to prioritize to meet deadlines
• Strong team orientation
• Facility with software application skills reflecting technical requirements of position

Nice To Haves

• CPA preferred

Responsibilities

• Draft and coordinate accounting memos/governance documents for new or amended reinsurance agreements
• Prepare responses to internal and external audit requests for LGA and subsidiary reinsurance agreement financial reporting
• Prepare responses to fiduciary due diligence requests as relates to reinsurance objectives of LGA and subsidiaries
• Prepare quarterly analyses of IFRS results for Bermuda subsidiary(ies), including BMA filings and Board/Committee financial results materials
• Prepare/review statutory reinsurance schedules and reports
• Prepare/analyze reinsurance reports and settlements, including detailed monthly/quarterly asset roll forwards for established reinsurers
• Prepare, analyze and explain balance sheet and income statement movements each quarter, related to the impact of reinsurance
• Prepare monthly/quarterly intercompany reconciliations and reinsurance tie-outs to support settlements
• Prepare various reinsurance closing journal entries
• Prepare, analyze and explain Separate Account portfolio balance sheet and income statement movements impacted by reinsurance
• Author and maintain external third party reinsurer transfer of risk assessment. Liaise with LGA Reinsurance Administration to procure essential documents.
• Coordinate with LGA tax team to obtain accurate tax calculations as it relates to Captive and Bermuda financials
• Prepare/review reinsurance footnotes for various financial statement disclosures
• Maintain processes and controls to ensure accuracy of reported information
• Calculate the required compliance information needed for captive reinsurance financiers
• Responsible for maintenance of trend analysis of key figures and metrics
• Documentation and process improvement initiatives
• Ad hoc and other requests to support the team’s objectives and focus areas

Benefits

• The expected hiring compensation range for this position is $90,800 - $124,900 annually.
• The total compensation package for this position may include other elements, such as a sign-on bonus, long term incentives, and annual bonuses.
• This role is eligible to participate in the Legal & General America Annual Incentive Plan. The current target payment for the position is 8% of base salary, modified for corporate and individual performance. Bonuses are pro-rated based on start date.
• This role has 15 vacation days and 10 sick days that are accrued on a bi-weekly basis. Employees also have 9 paid holidays throughout the calendar year .
• We have a competitive compensation and benefits package focused on your overall wellbeing.
• Employee benefits include health, life, and dental insurance; 401K with company match up to 6% as well as a pension package; generous time off; and wellbeing initiatives throughout the year (we like doing fun stuff).
• We’re big on professional development and we’ll support and mentor you in your career progression and expect you to help us pay it forward by helping us develop tomorrow's leaders and growth-focused professionals.
• We value our teams and our communities and believe in giving back. Enjoy time off to volunteer for those causes that matter most to you!

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 501-1,000 employees