Senior Corporate Accountant
Job Description Senior Corporate Accountant
Munich Re Financial Management & Reporting
Were 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. 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 Senior Corporate Accountant in the Corporate and Munich Re Financial Reporting department is responsible for the preparation and review of all GAAP financial reporting for Munich Re America Corporation (MRAC) and/or for the preparation and submission of all quarterly IFRS financial statement balances, footnotes and intercompany group reporting as part of Munich Res worldwide corporate close system. The financial reporting includes the companies in the MRAC consolidation group and several individual entities under the Munich-American Holding Corporation.
As Senior Corporate Accountant, youll be responsible for the following:
For GAAP Reporting:
- Perform the financial consolidation of MRAC and its subsidiaries in ECON Version 140. Prepare consolidated and stand-alone financial statements for MRAC.
- Prepare the Quarterly and audited Annual Financial Reports for distribution to the holders of MRACs Senior Notes.
- Prepare various financial analyses in support of the GAAP reporting process
- Assist in the assessment of new GAAP accounting pronouncements, to assess implication to the Company and develop compliance procedures.
- Assist in the maintenance of appropriate GAAP general ledger accounts.
For IFRS Reporting:
- Serve as liaison and coordinator of all IFRS reporting questions and issues raised by Munich Re Group Reporting.
- Coordinate and supervise day to day workflow of the Munich Re financial reporting process.
- Perform the preliminary financial consolidation of MRAC and its subsidiaries in ECON Version 130.
- Evaluate, coordinate, and ensure the resolution of complex and time consuming reporting issues arising from new system implementations, new IFRS, new or changed Munich Re accounting/reporting changes, or new company or group transactions.
- Prepare the quarterly Excel Package of Supplemental Financial Information including information regarding high level topics, such as correction of accounting errors (IAS 8 cases), audit differences, and business combination transactions. Detailed topics must be thoroughly evaluated, summarized and coordinated with Munich Re Munichs Group Reporting personnel prior to submission in the Excel Package. In some cases, the issues may be escalated to the level of Controller or CFO of MRAm and/or Munich Re.
- Supervise completion of inter-group account balancing process with other Munich Re subsidiary personnel and various MRAm departments. Ensure timely and accurate submission of final inter-group balances in the system by Munich Res defined deadline.
- Oversee and ensure the completion and collection of all required footnotes. As subject matter expert, support other departments with the preparation of such footnotes, specifically in areas where complex issues tend to arise. Ensure the satisfactory resolution of all footnote-related issues. Ensure the timely upload of all footnotes in the system by Munich Res defined deadline.
- Review validation errors in general ledger and footnote data loaded. Determine cause of errors, formulate correction and ensure resolution. Ensure the timely and accurate submission of IFRS financial data in the system by Munich Res defined deadline.
- Prepare various analyses of IFRS reported data.
- Assist in the accounting and reporting of the companys defined benefit and defined contribution plans.
- Prepare the annual audited financial statements for the Munich Reinsurance America Pension Plan and the Munich Re U.S. Savings Plan.
- Participate in special projects as assigned. May include the implementation or change in regulatory or accounting requirements, complex transactions, or systems implementations.
Successful candidates will possess the following experience, skills, and capabilities:
- BS in Accounting
- 7+ years of experience in reinsurance or insurance accounting, and GAAP and/or IFRS financial statement preparation and reporting
- Big Four public accounting experience preferred
- 5+ years of experience with SAP financial systems
- Knowledge of GAAP and IFRS accounting guidance ability to research GAAP and IFRS accounting related issues and reach appropriate conclusions/resolution on such
- Position requires a self-motivated individual, able to work independently and bring complex issues to resolution.
- Ability to adapt to varied situations during periods of ambiguity, uncertainty, and change
- Ability to communicate in a clear and concise manner, both verbally and in writing
- Ability to supervise, guide and teach others.
- Ability to work effectively with people at varying staff levels and management
- Ability to apply knowledge and expertise to wide ranging and complex problems
- Ability to work under very tight deadlines with extended hours
- Continually seeks to improve the accuracy and efficiency of the GAAP and IFRS reporting processes
- Language: English required, German a plus
- CPA preferred
Munich Re America Services
United States of America