Title:  Financial Analyst

Financial Analyst

We are 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

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

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

uture focused and always one step ahead!

This position is responsible for conducting quality assurance measures to ensure the accuracy of financial transactions and relevant underwriting results. This position is key in ensuring quarterly close deliverables are met, identifying risks and controls for mitigation, and recommending process improvements and automation.  This position requires the ability to analyze financials as well as assessing and resolving system-related issues. 

Responsibilities

•  Perform Accrual processing and analysis, with a continuous focus on improving data quality and efficiency:
• • Calculate and post manual accruals leveraging automation tools where possible
  • Explore ways to improve efficiency in the accrual process through collaboration with FMR and IT colleagues.  Provide support for process and automation activities.
  • Analyze quarterly accrual impacts
• Support the Internal / External audits and examinations, including:
  • Completion of data requests
  • Ensure compliance of ICS and MARSOX requirements and adherence to controls and data integrity
• Support the Quarter Close process
  • Generate and analyze QA reports, identify trends and resolve data issues 
  • Execute relevant adjustments
  • Continually assess QA processes for improvements and / or automation opportunities
  • Assist with documenting processes and controls
• Perform Research and Analysis
  • Develop and execute deviation analysis on specific accounts and material changes in related financial GL accounts
  • Respond to queries about quarterly movements
  • Perform reconciliations as required
• Support the treaty maintenance function and interpret contract wording for accurate recording of financial transactions.
• Support the identification of Risks and implementation of mitigating Controls
• Manage the FS-RI batch management function
  • Ensure the timely execution of batch runs
  • Review and correct errors
  • Research accounting system technical issues
  • Test accounting system changes
• Participate in special projects when assigned bringing knowledge, time management, and appropriate communication skills

Qualifications

• Bachelor's degree in accounting, Finance, Business Administration, Mathematics, Computer Science, Data Science/Analytics, or equivalent experience (required)
• 3 + years of Property & Casualty Insurance / Reinsurance finance or accounting experience preferred
• Coding, data modeling, and Power BI experience a plus
• Required proficiency in Microsoft Office products
• Proficiency with current company software applications, specifically SAP system and reporting experience preferred (FS-RI, FS-CD, Business Objects) or equivalent insurance / reinsurance systems
• Strong interpersonal skills including verbal and written communication, relationship building, and teamwork
• Strong organization and time management skills with the ability to schedule and prioritize workload demands across multiple deliverables simultaneously
• Strong analytical and problem-solving skills
• Ability to be proactive, work independently and assist with bringing complex issues to resolution.

The Company is open to considering candidates in Princeton, NJ. The salary range posted below applies to the Company’s Princeton location.

The base salary range anticipated for this position is $70,000 - $90,000 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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