Senior Accounting Analyst

Healthcare Insurance Reciprocal of Canada (HIROC); Toronto; Hybrid; CAD 90,000 - 110,000; Full time

Job summary

HIROC, Healthcare Insurance Reciprocal of Canada, is seeking a Finance professional for a hybrid Toronto-based role. You will lead month-end closes, IFRS reporting (IFRS 17/18), budgeting and variance analysis, and collaborate with actuarial partners to understand reserves and claims.

The ideal candidate holds a Bachelor's in Accounting or Finance, CPA designation (or near completion) and 5 years’ relevant experience.

Qualifications

• Bachelor’s degree in Accounting or Finance and CPA designation (or near completion).
• Minimum 5 years of relevant experience in finance within insurance or risk management.
• Strong knowledge of IFRS for Insurance (IFRS 17/18).

Responsibilities

• Lead month-end closes and quarterly closes with IFRS reporting.
• Prepare and analyze IFRS 17/18 financial statements and schedules.
• Coordinate budgeting, forecasting and variance analysis with department leaders.
• Support audits and drive process improvements and controls.

Skills

IFRS reporting

Budgeting

Variance analysis

Month-end close

Education

Bachelor's degree in Accounting or Finance

CPA designation or near completion

5 years of relevant work experience

Tools

Excel

IFRS reporting tools

Job description

Healthcare Insurance Reciprocal of Canada (HIROC) is a trusted healthcare safety advisor, committed to offering a full spectrum of insurance, risk and claims management products and support.

HIROC knows healthcare as it’s the largest not-for-profit healthcare liability insurer in the country, with over 700+ healthcare organizations part of the Reciprocal. Combined with sage counsel and risk management solutions, HIROC works with its partners to increase safety.

As a Reciprocal, HIROC is governed by its Subscribers and remains an innovative, agile, and proactive partner. Since its inception in 1987, the not-for-profit has returned over $260 million to the healthcare system. HIROC’s 35 years of data is combined with its extensive experience to advise and share learnings, all with the goal of scaling knowledge and increasing safety across Canada’s healthcare system.

One common thread running through HIROC’s culture is the feeling of being part of something unique: partnering to create the safest healthcare system – HIROC’s vision.

Each employee has the opportunity to find their calling and help build a stronger organization designed to meet the needs of its Subscribers. As a Top 100 GTA Employer ten years running, HIROC employees are empowered to find solutions and create amazing experiences in service to its Subscribers.

Join us and be part of the team working to make a difference.

KEY RESPONSIBILITIES:

Financial Reporting and Analysis

• Preparation and analysis of month and quarterly financial results and reporting packages in accordance with IFRS (including IFRS 17 & IFRS 18 requirements), identifying and explaining variances across key balance sheet and income statement accounts.
• Month-end and quarter-end general journal entries involving material financial transactions involving premiums, claims, reinsurance, expenses and investments.
• Tracking and billing reinsurance recoverable and settlements. Managing cash settlements and statement of accounts with reinsurers.
• Preparing reinsurance schedules and regulatory reports related to ceded business. Ensuring proper application of reinsurance treaty contract terms, premium calculations and commission structures.
• Preparation of P&C1 - Property and Casualty Insurance Core Financial Statement quarterly and annual returns
• Preparation and analysis of P&C4 - Minimum Capital Test return
• Analyze financial statements and ledger accounts; suggest solutions to issues and take responsibility for the execution and resolution.
• Prepare and review account reconciliations
• Assist with ad-hoc analytical reviews required to close the quarterly technical results.
• Collaborate with department leaders to review budget performance and explain expense trends

Budgeting and Forecasting

• Participate in the annual budgeting process, including preparation, monthly forecasting, and expense budget-to-actual variance analysis.
• Deliver clear, concise, and executive ready commentary on financial results, variances and outlook.

Insurance and Actuarial Analysis

• Collaborate with actuarial team to understand claims development, reserves, loss ratios and other insurance performance metrics.
• Analyze insurance contract liabilities and related movements under IFRS 17

Process and Controls

• Assist in the preparation of the year-end audit files and schedules, working papers, and liaise with auditors to complete the annual audit.
• Identify opportunities to improve processes, controls, and reporting efficiency through automation and standardization

Other Finance Duties

• Provide back-up where necessary in the Finance department
• Updating Finance policies and procedures
• Other duties as assigned

EDUCATION, TRAINING & EXPERIENCE:

• Bachelor’s degree in Accounting or Finance.
• CPA designation or in pursuit and close to completion
• Insurance industry experience, preferably within P&C insurance.
• Strong knowledge and understanding of International Accounting Standards for Insurance Organizations (i.e. IFRS 17, IFRS 18)
• Experience with financial reporting, budgeting and variance analysis
• 5 years of relevant work experience

WORKING CONDITIONS:

• Working at a computer for much of the day
• HIROC is committed to a hybrid work environment, which includes 2 days per week in office, with departments meeting in person at least two times per month, as per HIROC’s Hybrid Work Policy. HIROC’s hybrid model provides opportunities for team building, education, leadership development and cross departmental relationship building.

SALARY RANGE: $90,000.00 - $110,000.00

The salary range offered for this position will be determined by a variety of factors including the candidate’s skills, competencies, qualifications and relevant experience, in accordance with HIROC’s Compensation Policy.

Learn more about the benefits we offer at HIROC by visiting

https://www.hiroc.com/about-us/careers

At HIROC we do not use AI (Artificial Intelligence) or automated screening tools at any stage of our hiring process. Every application is reviewed by our hiring team. If you have any questions regarding our recruitment process, please reach out to our Human Resources Department at [e-mail]

HIROC is committed to fostering a climate of equity, diversity, inclusion, and accessibility. HIROC respects the diversity of all members of its community and welcomes applications from those who have demonstrated a commitment to the values of equity, diversity and inclusion. Applications from members of groups that have been historically disadvantaged and marginalized, including First Nations, Métis and Inuit peoples, racialized persons, persons with disabilities, those who identify as women, 2SLGBTQ+, individuals who self-identify on the basis of any of the protected grounds under the Human Rights Code and/or others who may contribute to the further diversification of ideas within its community are encouraged. HIROC is committed to fair assessment of a candidate’s abilities, and consideration for diversity of thought, method, and experience, including non-traditional career paths.

HIROC is committed to providing a barrier-free environment for all stakeholders, including its participants, employees, job applicants, suppliers, the public and any visitors who may enter its premises, access its information, or use its services. As an organization, HIROC respects and upholds the requirements set forth under the Accessibility for Ontarians with Disabilities Act (AODA) and its associated standards and regulations and will ensure that HIROC offers a safe and welcoming environment that is respectful of each person's dignity and independence.