Title:  Subsidiary Accountant

Subsidiary Accountant

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

Future focused and always one step ahead!

We’re 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. 

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.

This position will support the subsidiary financial reporting process. Subsidiary financial reporting includes all non-statutory companies in the MRAC consolidation group and multiple individual entities under Munich-American Holding Corporation (e.g., MEAG NY and MRAS).  Responsibilities include (i) assisting with the analysis and preparation of selected Munich Re entities financial data and reports under International Financial Reporting Standards (“IFRS”) and under US Generally Accepted Accounting Principles (“GAAP”), (ii) assisting with the preparation and submission of selected quarterly IFRS financial statements and footnotes as part of Munich Re’s worldwide corporate close system and (iii) assisting with the reconciliation of intercompany balances. 

Responsibilities

• Assist with preparing quarterly journal entries for Subsidiary Companies.
• Initiate cash funding requests from third party accountants and process the underlying financial statement information into the general ledger and consolidation systems.  
• Assist with the preparation of management financial reports for assigned Subsidiary Companies.
• Assist with preparation of annual budgets, quarterly forecasts and dividend calculations for Subsidiary Companies, as required.
• Work closely with Munich Re Financial Reporting personnel as well as other MRAm departments in the completion of the inter-group account balancing process, as required, to ensure the Companies meet Munich Re’s defined deadlines as well as accurately process the submission of final inter-group balances in the system. 
• Prepare the required footnotes of Subsidiary companies, as assigned.  Ensure the satisfactory resolution of all footnote-related issues.  Complete the timely upload of footnotes in the system by Munich Re’s defined deadline.
• Preparation of Capital Call and Distribution Notices for Subsidiary Companies.  Initiate billing of intercompany charges, as necessary.
• Preparation of BEA regulatory filings. 
• Assist with the audits of Subsidiary Companies. 

Qualifications

• B.S. in Accounting.
• 2 + years’ experience in GAAP and/or IFRS financial reporting in the Financial Services Industry.
• CPA preferred but not required.
• Ability to work independently and bring issues to resolution.
• Strong attention to detail.
• Ability to multi-task while working under very tight deadlines.
• Continually seeks to improve the accuracy and efficiency of the reporting process.
• Ability to communicate with various levels of management.
• Experience with Limited Partnership reporting and accounting a plus.
• Experience with SAP financial systems a plus.

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 $72,000 - $85,000 plus the opportunity for a 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. 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.

#LI-JR1