Accountant

Arch Capital; Jersey City (NJ); On-site; USD 62,000 - 98,000; Full time

Benefits offered by this job

Medical plans

401k with matching

PTO 20 days

Holidays

Life and AD&D Insurance

Parental Leave

Student Loan Assistance

Tuition Reimbursement

Backup Child and Elder Care

Job summary

Arch Capital is seeking an accounting professional to manage all accounting tasks for delegated authority programs, including recording premiums and processing cash for open receivables. You will interact with multiple Arch departments and learn to produce timely financial reporting for your assigned accounts.

The role requires a Bachelor’s Degree in Accounting and 2–5 years of accounting/finance experience in the insurance/reinsurance industry, with strong Excel and data-management skills.

Qualifications

• Bachelor's Degree in Accounting
• 2–5 years of accounting/finance experience in insurance/reinsurance
• Proficiency with Excel and data analysis

Responsibilities

• Manage accounting activities for delegated authority programs, including premium receivables and cash application
• Reconcile and track premium receivables for assigned programs
• Prepare monthly and quarterly financial reporting for assigned accounts
• Interact with Underwriters, Operations, Claims, IT and Corporate Finance
• Assist with audits and financial analyses as needed

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 their 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

Click here to learn more on available benefits.

14400 Arch Insurance Group Inc.