Financial & Management Reporting
Responsible for supporting Munich Re America Services investment accounting function. This encompasses the reconciliation of the PAM investment accounting system related reports to the Global Template general ledger, footnote preparation and reconciliations to financial reporting, price variance analysis, preparation of GPA’s and journal entries, creation of various investment schedules for Management reports, and IFRS 9 reporting. Working in conjunction with the personnel in Investment Accounting, Corporate Reporting, Subsidiary Accounting, and Statutory Reporting, as well as with BlackRock Solutions personnel - the third-party accounting service agent.
As investment Accountant you will:
- Control monthly and quarterly investment data to ensure completeness and accuracy by:
- Ensure Investment accounting data generated by PAM reconciles to the general ledger. Engage with BlackRock contacts to resolve reconciling items on a timely basis and identify efficiencies to the process.
- Monitor domestic and global related transfers as well as reconcile investment bank accounts to the general ledger. Engage with external parties as needed to identify reconciling items and correct as needed.
- Prepare GAAP, IFRS and STAT manual journal entries when required. This entails understanding the different basis of accounting and the nuances between them to understand when entries are required.
- Develop various investment accounting data schedules required for financial reporting such as investment schedules utilized within the footnotes and management discussion and analysis sections for the GAAP and STAT financial statements.
- Manage investment management invoices by reconciling fees and preparing GPAs, as well as calculating and recording the investment management expense quarterly accruals.
- Ensure all quarterly prices utilized by the third-party accounting provider and the asset manager reconcile. Engage with third-party colleagues to resolve any reconciling items and communicate differences with other MR U.S. Group entities.
- Record complex monthly transactions associated with infrastructure investment activities. This primarily encompasses:
- Knowledge of the different accounting methods under the three basis of accounting (IFRS, GAAP, and STAT) to properly record the infrastructure activity in the financial statements.
- Monitoring changes in carry value from the investors’ financial statements, working with BlackRock to process adjustments in investment accounting system, monitoring pricing in PAM, and preparing rollforward analysis.
- Engage with external and internal auditors to provide required support and answer inquiries.
- Support lead Senior Investment Accountant on various projects, as requested. Special project work, such as:
- Assist with the IFRS 9 project. To include working with BlackRock on the development of the disclosure files and upload into the new reporting system, booking IFRS 9 conversion entries into the general ledger, as well as finding efficiencies and developing controls for the process before going live.
- Building out the Investment Accounting Teams use of the new BlackRock reporting and analysis tool to improve reporting and increase efficiencies.
Successful candidates will possess the following skills/capabilities:
· Bachelors degree in accounting or equivalent experience
· Knowledge of investment accounting as well as insurance/reinsurance accounting
· 3 + years investment accounting experience
· Strong analytical skills
· Sound written and oral communication skills
· Ability to work independently and adhere to strict deadlines
· Strong knowledge of Microsoft Office applications (Excel, Word, Access)
· Knowledge of PAM investment accounting system a plus
· CPA is a plus