What are the responsibilities and job description for the Primary Insurance Accountant position at Munich Re Specialty - North America?
Company
Munich Re Specialty - North America
Location
Princeton , United States
The Opportunity
Future focused and always one step ahead!
Our Primary Insurance Accountant is responsible for the timely reporting of accruals needed for the quarter close and for directing the reporting activities of less experienced staff. This person provides timely and accurate reconciliations of insurance-related payables and receivables. The Primary Insurance Accountant oversees and manages primary insurance matters, including sliding scale accrual and actual calculations, monitoring of third-party deductible coding and collection, and the execution of the premium audit process. Additionally, this role involves managing the process with outside legal counsel and collection firms on matters referred for legal collection. The Primary Insurance Accountant Senior also collaborates with and provides recommendations to Underwriting personnel on contractual matters, and serves as a subject matter expert for all system enhancements related to ISyCL.
Responsibilities
In this position you will:
The base salary range anticipated for this position is $72,000 - $105,600 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).
The salary estimate displayed represents the typical salary range for candidates hired in this position in Princeton, NJ. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.
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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About Munich Re Munich Re Worldwide
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Munich Re Specialty - North America
Location
Princeton , United States
The Opportunity
Future focused and always one step ahead!
Our Primary Insurance Accountant is responsible for the timely reporting of accruals needed for the quarter close and for directing the reporting activities of less experienced staff. This person provides timely and accurate reconciliations of insurance-related payables and receivables. The Primary Insurance Accountant oversees and manages primary insurance matters, including sliding scale accrual and actual calculations, monitoring of third-party deductible coding and collection, and the execution of the premium audit process. Additionally, this role involves managing the process with outside legal counsel and collection firms on matters referred for legal collection. The Primary Insurance Accountant Senior also collaborates with and provides recommendations to Underwriting personnel on contractual matters, and serves as a subject matter expert for all system enhancements related to ISyCL.
Responsibilities
In this position you will:
- Perform timely and accurate calculations of all accruals needed for the quarterly close. -Collaborates with the Department Manager with the quarterly GT Account Reconciliations. Analyze data and prepare special rated calculations, particularly sliding scale commission accruals and actual calculations for designated clients
- Perform timely and accurate account reconciliations applicable to MGA and Program Administrator business, as well as assigned accounts for non-mandated and Single Risk E&S business. As senior department representative, engage with client and UW personnel to address difficult collection or reconciliation issues.
- Recommend strategies to address difficult collection issues; work with Department Manager, when necessary, to refer and follow-up on balances sent to third-party collection agencies.
- Provide training and guidance to new and less tenured department staff. Serve as sounding board for staff to address new or unanticipated challenges impacting day-to-day work.
- Manage the premium audit process by engaging with third-party vendors to conduct required audits and ensure resulting adjustments are appropriately recorded into the company’s accounting systems.
- Participate in, as assigned, all insurance related system initiatives. This includes requirements gathering, system testing and implementation. Recommend and implement process changes to enhance efficiency and fully leverage automated system capabilities.
- Prepare the ceded accounting statements for assigned insurance programs (e.g., GIG).
- College Degree (Accounting or Finance) preferred.
- 1-3 years of insurance, reinsurance, or accounting experience.
- Excellent oral and written communication skills
- Excellent inter-personal skills to work in the capacity of a Unit Lead
- Experience in insurance/reinsurance processing systems preferred
- Expertise in Microsoft Office products, particularly Excel and Word.
The base salary range anticipated for this position is $72,000 - $105,600 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).
The salary estimate displayed represents the typical salary range for candidates hired in this position in Princeton, NJ. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.
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.
About
About Munich Re Munich Re Worldwide
Follow Us
Privacy Legal Notice Imprint
Salary : $72,000 - $105,600
