Accountant

Arch Insurance Group Inc.; Jersey City (NJ); On-site; USD 62,000 - 98,000; Full time

Benefits offered by this job

Comprehensive benefits package

PTO and paid holidays

Job summary

Arch Insurance Group Inc. is seeking an Accounting professional to handle delegated authority programs, premium and cash activities, and financial reporting for a defined book of business.

The role collaborates with Underwriters, Operations, Claims and IT to ensure timely closes and accurate records. The ideal candidate has a Bachelor's in Accounting and 2–5 years in insurance finance, with advanced Excel and Workday Financials capabilities.

Qualifications

• Bachelor’s Degree in Accounting.
• 2 to 5 years experience working in Accounting/Finance with emphasis on the insurance/reinsurance industry.
• Strong Excel and financial systems knowledge; proficient with data management.

Responsibilities

• Manage accounting activities related to delegated authority programs.
• Produce timely and accurate financial reporting for assigned accounts.
• Reconcile and track premium receivables; process cash receipts.
• Prepare monthly reconciliation of sub-ledgers to the general ledger.
• Prepare Reinsurance Statements and related cash activity.
• Assist with financial audits and quarterly P&Ls.

Skills

Excel

Analytical thinking

Oral and written communication

Multi-tasking

Education

Bachelor’s Degree in Accounting

Tools

Workday Financials

Job description

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility.

Position Summary

The position is responsible for all accounting tasks, which include recording premiums produced by the Agent and losses handled by claims, along with applying cash relating to open receivables. This position will be assigned a book of business and will interact with other Arch departments (Underwriters, Operations, Claims, IT and Corporate Finance) and Agency. The position will be expected to learn the process and produce timely and accurate financial reporting of the assigned accounts.

Responsibilities And Accountabilities

Manage all aspects of accounting activities related to delegated authority programs, including but not limited to:

• Highly proficient with Excel, including strong knowledge of vlookups, pivot tables and data management, MS Word, Outlook
• Working knowledge of Workday Financials or other cloud ERP systems
• Monthly and quarterly activities related to premium and cash activity for assigned programs
• Interact with the business unit
• Reconcile and track premium receivables for all assigned programs
• Process cash received monthly and apply to the open premium receivable balances
• Follow up with Agency regarding status of open balances

Other tasks related to the role

Calculate reinsurance transactions according to contracts

• Prepare Reinsurance Statements monthly
• Process all Reinsurance related cash activity and update applicable sub-ledgers
• Prepare monthly reconciliation of sub-ledgers to general ledger
• Prepare manual adjustments for Quarter Closing process
• Produce Quarterly P&Ls for the respective business assigned
• Assist with financial audits
• Handle all special projects and financial analysis as assigned by management

Required Skills And Abilities

• Highly proficient with Excel, including strong knowledge of vlookups, pivot tables and data management, MS Word, Outlook
• Working knowledge of Workday Financials or other cloud ERP systems
• Exemplary oral and written communication skills; analytical, with keen ability to think through issues
• Proactive and able to organize and prioritize to meet multiple demands and commitments
• Ability to improve and evaluate processes to identify opportunities for improvement

Education & Experience

• Bachelor’s Degree in Accounting
• 2 to 5 years experience working in Accounting/Finance with emphasis on the insurance/reinsurance industry

For individuals assigned or hired to work in the location(s) indicated below, the base salary range is provided. Range is as of the time of posting. Position is incentive eligible.

For JC/Garden City: $61,500 - $98,400/year

For CT/PA: $55,300 - $88,500/year

• Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above pay range may be modified in the future.
• Arch is committed to helping employees succeed through our comprehensive benefits package that includes multiple medical plans plus dental, vision and prescription drug coverage; a competitive 401k with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long-Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care; and more.

14400 Arch Insurance Group Inc.