AVP, Insurance Accounting

The Company

Our client is a publicly traded P&C carrier that encourages associates to take on new internal opportunities with an eye towards expanding their foundational skill sets and growing their careers. The carrier is committed to structuring roles and teams around the talents of the individual. The carrier is led by a executive management team that includes a successful CFO who has a strong track record in the industry of making sure that the finance team and its infrastructure/resources from a people, process and technology perspective, are at an appropriate level/caliber to support a carrier's continued growth. It's a great team to work for. As a carrier, the Group is global, profitable and it's model is a mix of direct and indirect.

The Role

This role will report to the VP of Accounting and Analysis. The Assistant Vice President of Insurance Accounting will be instrumental in orchestrating the quarterly close process in accordance with US GAAP and STAT requirements. This role is responsible for preparing and delivering comprehensive financial insights for Board meetings. A strong emphasis will be placed on leading process improvements and automation initiatives. The AVP will evaluate and interpret GAAP and Stat accounting guidance to assess its impact on the company. Additionally, the position requires effective liaison with both internal and external auditors to ensure adherence to key controls, processes, and reconciliations. Also opportunity for ownership in designing and implementing new accounting system changes for efficient and accurate processing of financial data.

Lead and enhance the capabilities of the reporting team.

Oversee the precision and scheduling of the quarterly close process, which includes:

Setting up adequate expense accruals, provisions for bad debt, and CECL provisions.

Analyzing, computing, and documenting deferred acquisition costs.

Confirming the correct consolidation of non-insurance subsidiaries.

Ensuring all quarterly balance sheet reconciliations are executed and scrutinized.

Conducting thorough financial reviews and analyses.

Facilitate coordination with both internal and external auditors concerning essential controls, procedures, and reconciliations.

Interpret and assess the implications of GAAP and STAT accounting standards on the organization.

Deliver prompt and accurate internal reports on P&C segment financial outcomes, as well as quarterly statutory financial reports for Board meetings.

Identify key financial processes for standardization or redesign; devise and implement enhancements and automation to expedite the close process.

Design and implement necessary modifications to accounting systems to ensure efficient and precise processing of financial data; engage in the development and launch of a new General Ledger system.

Develop and maintain a deep understanding of the operational and financial aspects of the business.

Qualifications

Minimum a bachelor’s degree in accounting

Progressive accounting experience in the Insurance Industry

CPA strongly preferred

Comprehensive knowledge of all procedures related to financial analysis, reporting, and controls

Expert level knowledge of the full insurance income statement and balance sheet

Robust knowledge and experience in quarterly and annual financial close process

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