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Senior Statutory & Corporate Accountant
Financial & Management Reporting
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. 
The Company
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
 
The Senior Statutory & Corporate Accountant in the MRAS Financial Reporting department is responsible for leading the preparation and coordination of quarterly and annual statutory financial statements of assigned statutory entity(ies) and/or for the preparation and submission of all quarterly IFRS financial statement balances, footnotes and intercompany group reporting as part of Munich Re’s worldwide corporate close system. The IFRS financial reporting includes individual entities as assigned under the Munich-American Holding Corporation. 

As Senior Statutory & Corporate Accountant you will:  
 
·      Compile and evaluate the quarterly and annual statutory statement financial pages (pages 2 to 5), Underwriting and Investment (U&I) Exhibits, Notes to the Financial Statements and Five-Year Historical Data. Assess the accuracy of information and identify and resolve third-party software validation errors. In certain aspects (e.g., Notes) this involves gathering and reviewing data from departments in FMR as well as ICO or Law. In addition, this position will direct Statutory Accounting staff when appropriate.
 
·      Direct other departments within FMR for the completion of other components of the quarterly and annual statement as follows: Schedule P – Corporate Reserving, Schedule F – Reinsurance / Retro Accounting, Schedule D – Investment Accounting.
 
·      Direct other departments throughout the Company for the accumulation of information and preparation of the Notes to the Quarterly and Annual Financial Statements (i.e., Tax, Corporate Reserving, ICO, etc.).
 
·      Be the lead individual to perform variance analysis complete with descriptive explanations. Work with the responsible department / individuals in the remediation of errors detected through the variance analysis.
 
·      Develop, model, analyze, and communicate MRAm’s quarterly and annual pro-forma RBC calculations and year-end final RBC calculations to be filed with regulators for the assigned statutory entity (ies). Perform RBC modeling for proposed transactions, assessing and determining the impact to critical capital measures.
 
Annual Statement Reporting (“ASR”) System Accountabilities:
 
·      Lead the IT resources assigned to ASR in the implementation of newly adopted statutory financial reporting requirements or revisions thereto. Bridge complex technical statutory accounting and reporting requirements with underlying statutory/IT data elements and IT system processes necessary to efficiently achieve an accuate and timely ASR process..
 
·      Design and implement internal controls and procedures for the the ASR system/process. . Perform a reconciliation between ASR and various front end systems. Identify, analyze, and resolve any reconciliation errors or unusual items and when required communicate such information to other personnel.
 
 
IFRS Reporting Accountabilities:
 
·      Evaluate, coordinate, and ensure the resolution of complex and time-consuming reporting issues arising from new system implementations, new IFRS pronouncements, new or changed Munich Re accounting/reporting changes, or new company or group transactions.
·      Prepare the quarterly Excel Package of Supplemental Financial Information including information regarding high level topics, such as correction of accounting errors (IAS 8 cases), audit differences, and business combination transactions. Detailed topics must be thoroughly evaluated, summarized, and coordinated with Munich Re Munich’s Group Reporting personnel prior to submission in the Excel Package. In some cases, the issues may be escalated to the level of Controller or CFO of MRAm and/or Munich Re.
 
·      Perform the inter-group account balancing process with other Munich Re subsidiary personnel and various MRAm departments. Ensure timely and accurate submission of final inter-group balances in the system by Munich Re’s defined deadline.
 
·      Oversee and ensure the completion and collection of all required footnotes. As subject matter expert support other departments with the preparation of such footnotes, specifically in areas where complex issues tend to arise. Ensure the satisfactory resolution of all footnote-related issues. Ensure the timely upload of all footnotes in the system by Munich Re’s defined deadline.
 
·      Review and coordinate remediation of validation errors in general ledger and footnote data loaded. Determine cause of errors, formulate correction, and ensure resolution. Ensure the timely and accurate submission of IFRS financial data in the system by Munich Re’s defined deadline.
 
·      Prepare various analyses of IFRS reported data.
 
Other
 
·      Participate in special projects as assigned. May include the implementation or change in regulatory or accounting requirements, complex transactions, or systems implementations.
 
Successful candidates will possess the following skills/capabilities: 
 
·       A 4-year degree in Accounting
·       7+ years’ experience in reinsurance or insurance accounting, and/or IFRS financial statement preparation and reporting
·       Public accounting experience required
·       Supervisory experience a plus
·       Experience with SAP financial systems and IBM Cognos TM1 a plus
·       Knowledge of NAIC / Statutory and IFRS accounting guidance – ability to research accounting related issues and reach appropriate conclusions/resolution on such
·       Position requires a self-motivated individual, able to work independently and bring complex issues to resolution.
·       Ability to adapt to varied situations during periods of ambiguity, uncertainty, and change
·       Ability to communicate in a clear and concise manner, both verbally and in writing
·       Ability to work effectively with people at varying staff levels and management
·       Ability to apply knowledge and expertise to wide ranging and complex problems
·       Ability to work under very tight deadlines with extended hours
·       Continually seeks to improve the accuracy and efficiency of the reporting processes
·       Language: English required, German a plus
·       CPA preferred