AVP Accounting

AVP Accounting

Munich American Reassurance Company (MARC) is seeking an Assistant Vice President, Accounting who will be responsible for managing and overseeing the reinsurance/technical accounting and elements of non-technical accounting close for both IFRS and STAT.

Reporting to the 2nd VP, Accounting and Financial Reporting, the AVP, Accounting will partner closely with MRAS Investment Accounting, Corporate Actuarial, Reinsurance Operations, other workstreams within Finance, and global Munich departments including Reinsurance Controlling (RIC) and Reinsurance Accounting (RIA).  This role will also focus on overseeing the deployment of best practices to achieve a stable end-to-end reinsurance/technical accounting process including challenging existing processes and the key control framework.

This role will own the books and records for actual results, partnering closely with stakeholders who influence reported figures and challenging processes when financial entries are requested by the accounting team. In addition, you will require a strong understanding of how the overall processing of transactions fits into the broader Munich Re group financial statements as well as local STAT financial statements. 

Responsibilities:

Accounting Oversight & Financial Reporting
•    Own the management and quality assurance over all accounting functions, including reinsurance/technical accounting (premiums, claims, reserves, etc.) and non-technical accounting (investments, pensions, cash, etc.) for IFRS and STAT
•    Review and approve journal entries, reconciliations, and disclosures for non-insurance areas such as pensions, leases, and intercompany
•    Review accounting research and resolve complex or new reinsurance treaties, transactions, and investment structures as required
•    Review key analyses and documentation, including impairment analyses, fluctuation analyses, and footnote disclosures prepared by the MRAS Investment Accounting Shared Service Center
Reinsurance Governance & Process Excellence
•    Achieve alignment with Munich Re’s Reinsurance Accounting (RIA) Department on global governance and requirements, including IFRS accounting, Plan, and Forecast figures
•    Oversee the deployment of best practices to maintain a stable end-to-end reinsurance/technical accounting process, including challenging existing processes and the control framework
People Leadership & Team Management
•    Supervise the Reinsurance Accounting and General/Non-Technical Accounting teams to ensure timely and accurate execution of accounting entries, reconciliations, analytics, and key controls
•    Responsible for hiring, training, and supervising staff within the Accounting workstream in Finance
Internal Controls & Audit
•    Oversee the development, maintenance, and documentation of controls to ensure compliance with internal control requirements (ORCS and MARSOX)
•    Act as the primary liaison with internal and external auditors

Qualifications:
We are seeking a seasoned finance leader with insurance or reinsurance experience who thrives in complex, regulated environments. You combine technical rigor with executive presence and are comfortable balancing strategy with hands-on leadership.

•    CPA required
•    10+ years of progressive accounting experience
•    Insurance/Reinsurance experience required
•    Public accounting experience preferred
•    Creation and/or review of journal entries, including accounting accruals, estimates and subjective accounting for technical accounting
•    Application of STAT and IFRS Accounting policy to daily, monthly and quarterly accounting in functions overseen
•    Authorizations and recommendations for approval of certain write off balances and amounts within defined thresholds based on account balances and impact of write off
•    Accounting decisions on defined benefit plan (Pension) and deferred compensation plan accounting and journal entry authorization for multi-million pension liability
•    Oversight and governance of the control environment of  reinsurance accounting, investment accounting, cash and pension
•    Reconciliation and risk tolerance decisions on reconciling items
•    Ownership and sign-off of investment schedules for regulatory filings (e.g. Bluebook schedule Ds, etc.) and audited financial statements 
•    Oracle system experience preferred, SAP system experience a plus
•    IFRS and Insurance Statutory accounting experience preferred
•    Excellent communication, organizational and time management skills
•    Strong project management and ability to motivate a team towards a common goal, effectively works in a team environment and on an individual/independent basis
•    High degree of attention to detail, documentation skills are proficient and concise
•    Continuous improvement mindset, ability to handle multiple projects simultaneously by prioritizing tasks
•    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.
 
The Company is open to considering candidates in New York City. The base salary range anticipated for this position is $186,000 to $215,000, 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.