AVP, Assumed Administration Accounting
Atlanta , United States
The AVP, Assumed Administration Accounting will own the integrity and execution of the processing and financial accounting impacts and analysis of the Assumed Administration function. Also responsible for the financial accounting of the associated retro accounting, including concepts on both and IFRS and STAT basis. This position has oversight of all people and processes associated with the technical premium accrual and cash functions. It requires cross-functional collaboration and understanding of all operational processes (technical accounting, treaty set up, data stratification, accounting determination, administration bookings, retrocession administration, corporate actuarial, etc). This position has responsibility for stabilization, updates and enhancements to the financial system landscape as affected by processes owned.
- Own the management and quality assurance over of all accounting functions including all in scope technical accounting (e.g., premiums, commissions, cash, retrocession, etc) for both IFRS and STAT bases of accounting.
- Supervise the Assumed Administration function to ensure the timely and accurate and timely execution of all operational, close and financial processes.
- Oversight for operational functions (including administration, retrocession administration, treaty set up, client data set up, claims and corporate actuarial) providing source technical accounting information.
- Oversee the creation and manual booking of all items not maintained in source systems for in scope technical accounting items
- Ensure that analytics are done monthly for all owned technical accounts, that company level P&Ls are reviewed for trending and that the operational support teams provide sufficient explanations and trend analysis over key variances.
- Validation of all technical accounting to source data and information for overall quality assurance and monitoring by account, by line of business and by treaty/plan.
- Process re-engineering of all technical accounting areas including the overall vision of prognosis and forecast loads, balance sheet and P&L emphasis.
- Oversee audit requests and ensure consistency and quality deliverables for all PBC items for technical accounting are provided to the audit single point of contact.
- ICS and MARSOX compliance for all owned areas.
- Work closely with Operations, Finance and Quality Assurance team on all finance projects as well as landscape projects.
- Bachelor’s degree required
- CPA required
- 10+ years Insurance Experience required, reinsurance preferred
- Oracle experience and SAP preferred
- IFRS Accounting experience preferred
- Statutory Accounting experience preferred
- Experience participating in large-scale finance system projects
- Proficient with accounting operational processes such as premiums, claims, commissions and actuarial bookings
- Detailed knowledge of IFRS and Statutory accounting
Munich Re Life US aspires to be the premier reinsurance business partner that delivers exceptional value to our clients and stakeholders. As the US-based life subsidiary of one of the world's largest reinsurance companies, we are the industry leader in delivering world-class service and solutions to many of the most recognized insurance companies around the globe. We offer a highly competitive total compensation package that rewards hard work and success.