Sr. Manager, Accounting - Insurance

Macy's•Springdale, OH

About The Position

The Senior Manager, Insurance Accounting leads accounting and financial reporting activities for the company’s insurance and risk management programs. The role oversees premium allocations, claims and reserve analysis, reconciliations, forecasting, captive insurance financial reporting, and self-insurance governance. It requires strong accounting and controls expertise and an understanding of captive insurance accounting, self-insurance programs, actuarial reserves, and insurance-related financial reporting. The position also oversees internal and outsourced accounting resources and drives process improvement, standardization, and automation.

Requirements

Bachelor’s degree or equivalent work experience in a related field.
5–8 years of accounting or financial reporting experience.
Strong knowledge of U.S. GAAP, insurance accounting, financial controls, and account reconciliations.
Expertise in accounting and financial reporting for insurance programs, including premiums, claims, reserves, prepaid insurance, accruals, and related activity.
Experience managing accounting and financial reporting for captive insurance entities, including financial statements, reconciliations, audit support, and related transactions.
Knowledge of self-insurance programs, licensing requirements, annual recertification, assessments, and related compliance requirements.
Strong understanding of actuarial estimates, claims activity, reserve methodologies, and IBNR adjustments.
Ability to apply U.S. GAAP and technical accounting guidance to insurance programs, reserves, and captive arrangements.
Experience maintaining internal controls and supporting SOX compliance, internal audits, external audits, and financial reporting requirements.
Skills in annual planning, monthly forecasting, variance analysis, and managing insurance-related income statement and balance sheet accounts.
Experience using Oracle, OneStream, or comparable enterprise accounting and financial reporting systems.
Ability to partner effectively with Treasury, Insurance, Tax, Financial Planning, actuaries, third-party administrators, and senior Finance leaders.
Experience identifying and implementing opportunities to standardize, streamline, and automate complex accounting processes.
Ability to communicate and collaborate, use office and computer systems, access and review written and electronic information, and move within the work environment and interact with workplace materials as needed.
Ability to work a flexible schedule based on department and company needs.

Responsibilities

Lead accounting and financial reporting for the company’s insurance and risk management programs.
Oversee accounting for insurance premiums, claims, reserves, prepaid insurance, and related accruals.
Maintain accurate accounting records for the captive insurance company, including financial statements, reconciliations, and audit support.
Lead annual planning and monthly forecasting for insurance-related income statement and balance sheet accounts.
Partner with Treasury & Insurance, actuaries, third-party administrators, and other business partners on insurance and reserve activity.
Review actuarial estimates, claims activity, and reserve changes, including incurred but not reported (IBNR) adjustments.
Oversee annual recertification of self-insurance licenses and compliance requirements, including renewal applications, assessments, and security requirements.
Ensure accurate and timely journal entries, account reconciliations, financial close activities, and supporting documentation.
Maintain effective internal controls and support SOX, internal audit, and external audit requirements.
Provide accounting guidance for new and evolving insurance programs, captive arrangements, and related transactions.
Lead process improvements, standardization, and automation across insurance accounting activities.
Oversee and review work performed by internal and outsourced accounting resources.
Foster acceptance and respect, strengthening relationships and authentic connections with colleagues, customers, and communities.
Perform other duties as assigned.

Benefits

Competitive pay and benefits
Comprehensive health and wellness coverage
401(k) match
Paid time off
Eight paid holidays
Continuous learning and leadership development
Colleague Resource Groups
Volunteer opportunities
Merchandise discounts
Performance-based incentives
Annual merit review
Employee Assistance Program with mental health counseling and legal/financial advice
Tuition reimbursement