Title:  2nd VP, Accounting & Financial Reporting

The 2VP, Accounting & Financial Reporting will be responsible for managing and overseeing the reinsurance/technical accounting and elements of the non-technical accounting close for both IFRS and Statutory accounting bases. In addition to oversight of the accounting functions, this role will also oversee the Financial Reporting workstream including all aspects of the quarterly and annual reporting cycles and related deliverables. This role will report to the VP Finance and will partner closely with the following stakeholder groups: MRAS Investment Accounting (the Company’s Invested Asset Shared Service department), Corporate Actuarial, Reinsurance Operations, other workstreams within Finance, and global Munich departments including Reinsurance Controlling (RIC), Reinsurance Accounting (RIA), and Financial and Regulatory Reporting (FRR).  This role will also focus on overseeing the deployment of best practices to achieve stable end-to-end accounting and financial reporting processes including challenging existing processes and the key control framework.

Responsibilities:

• Own the management and quality assurance of all accounting functions, including reinsurance/technical accounting (e.g., premiums, claims, reserves, etc.) and non-technical accounting (e.g., investments, pensions, intercompany, etc.) for IFRS and Statutory bases
• Supervise the Reinsurance Accounting and General/Non-Technical Accounting teams to ensure timely and accurate execution of all accounting entries and key controls including reconciliations and analytics
• Achieve alignment with the Reinsurance Accounting (RIA) Department within Munich Re (i.e. Parent Company) when it comes to global governance and requirements (specifically in relation to IFRS accounting)
• Execution of best practices to achieve a stable end-to-end reinsurance/technical accounting process including challenging existing processes and the key control framework. Review certain key analyses/documents, such as impairment analysis, fluctuation analysis and footnote disclosures, prepared by the MRAS Investment Accounting department
• Review and approve journal entries, reconciliations and disclosures for other non-insurance areas, such as pension, lease and intercompany accounts
• Review accounting research and resolution applied to complex and new reinsurance treaties, transactions and investment structures as required
• Oversee application/implementation of accounting guidance vetted through the accounting policy workstream
• Ensure accurate and timely presentation of the Company’s IFRS and Statutory Financial Statements, ensuring compliance with regulatory requirements
• Implement a more sophisticated income tax reporting workstream, focused on tax planning matters relevant to the Life Insurance sector
• Lead, mentor and develop high-performing Accounting and Financial Reporting teams, striving towards professional growth and operational excellence
• Oversee the development, maintenance and documentation of controls to ensure adherence to internal control compliance (ORCS and MARSOX)
• Partner with the VP Finance and CFO to deliver strategic financial insights and performance metrics
• Align with the Company’s front office through new/complex reinsurance deals, while ensuring all accounting and reporting considerations are addressed across the deal’s lifecycle
• Act as primary liaison with internal and external auditors
• Prepare deliverables to be presented at Board, Audit Committee and Investment Committee meetings

Qualifications:

• CPA required
• 10+ years of progressive accounting/financial reporting experience
• Insurance/Reinsurance experience required
• People management experience required
• Public accounting experience preferred

• Oracle system experience preferred
• SAP system experience a plus
• IFRS and Insurance Statutory accounting experience preferred
• Proficiency in Excel and Power BI

Our Benefits

• Comprehensive Medical Plans
• PTO and Family Leave
• Retirement Savings Plans
• Dental and Vision Plans
• Life and Disability insurance
• Employee Assistance Program
• Adoption Assistance
• Wellness Programs - Calm, WW, SoFI, Virgin Pulse
• Commuter Benefits
• FSA and HSA Plans
• Hospital Indemnity, Critical Illness and Accident Plans

At Munich Re US, we see Diversity 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 Munich Re

Together, we engage with everything we have and are, to help humankind act braver and better.

As the world’s leading reinsurance company with more than 40,000 employees in over 50 locations around the globe, Munich Re introduces a paradigm shift in the way you think about insurance.  By turning uncertainty into manageable risk, we enable fundamental change.  We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions.  We dare to think big and are continuously innovating on behalf of our clients.

For New York City based employees, the base salary range anticipated for this position is $220,467 - $255,278, plus an opportunity for an annual company bonus based upon a percentage of eligible pay.

The salary estimate displayed represents the typical salary range for candidates hired in this position. 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.

Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.