Corporate Accountant Sr Company Munich Re America Services Location Princeton , United States

Corporate 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.

Job Description:

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

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

The Corporate Reporting and Compliance (CRC) department is responsible for all quarterly and annual Solvency II financial reporting to Munich Re. Under Solvency II reporting, there is economic capital of over $5 billion for the (re) insurance companies that are in scope (MRAC, MRAm, AAIC, PESLIC, Digital Partners). CRC is also responsible for providing technical accounting research and support to ensure the accurate and timely preparation of IFRS and Statutory quarterly and annual financial statements and footnotes. Under IFRS financial reporting, the MRAC and Digital Partners' companies have an aggregate stockholder's equity in excess of $5 billion. Under the Statutory basis of reporting, combined statutory surplus is in excess of $4 billion.

This role is responsible for the preparation, review and analysis of all Solvency II and IFRS Financial Reporting as well as supporting technical accounting research, compliance and accounting policy development and implementation. In addition, this position will also be involved in the Solvency II and IFRS subsidiary companies financial statement and note preparation as assigned and any other items that may arise in the course of completing these responsibilities. This will include submission and analysis of all quarterly Solvency II and IFRS financial statement balances, footnotes and intercompany group reporting as part of Munich Re's worldwide corporate close system.

Responsibilities:

• Prepare and analyze the financial consolidation of several entities of Munich Re. Support creation of validation and reconciliation templates to perform analyses and support sign-off of data by CFO.
• Monitor the Solvency II quarterly closing calendar and process to ensure the timely and accurate submission, consolidation and analysis of data.
• Support technical accounting research and assessment of the impact of new authoritative accounting guidance, current and evolving accounting, regulatory and financial reporting issues under GAAP, Statutory, IFRS and Delaware Insurance Code for all Companies.
• Support development and maintenance of risk descriptions for all significant risks (of all risk types) in consultation with the Process Risk Owners (e.g. carrying out risk guidelines to formalize the risk identification and description process. Support and assess new risks related to implementation of IFRS 17 processes and systems.
• Participate in special projects as assigned. May include the implementation or change in regulatory or accounting requirements, complex transactions, accounting policy development and/or systems implementation.

Qualifications:
Successful candidates will possess the following experience, skills, and capabilities:

• BS in Accounting
• 7+ years' experience in reinsurance or insurance accounting,
• GAAP and/or IFRS financial statement preparation and reporting
• CPA preferred
• Knowledge of IFRS, GAAP and Statutory accounting guidance - ability to research accounting related issues
• Work independently and strong attention to detail
• Strong multi-tasking skills and ability to work under very tight deadlines with extended hours
• Ability to adapt to various situations during periods of ambiguity, uncertainty, and change
• Ability to communicate in a clear and concise manner, both verbally and in writing to multiple levels within the organization
• Continually seeks to improve the accuracy and efficiency of the reporting processes
• Experience with SAP financial systems a plus
• Language: English required

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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