AVP, Finance

Arch Insurance Group Inc.; Jersey City (NJ); On-site; USD 123,400 - 166,900; Full time

Benefits offered by this job

PTO starting at 20 days per year

Up to 12 paid company holidays

Comprehensive medical coverage

401k with generous matching

Paid Parental Leave up to 10 weeks

Job summary

Arch Insurance Group Inc. is seeking a financial professional in Jersey City, New Jersey to lead the preparation and analysis of ASA reporting. The role requires 7-10 years of experience in the insurance industry and a Bachelor's Degree in Accounting/Finance. You will work closely with multiple departments, providing crucial financial insights and ensuring compliance with accounting principles.

The position offers a competitive salary range of $123,400 - $166,900 per year along with exceptional benefits including a 401k matching program, generous PTO, and comprehensive medical coverage.

Qualifications

• 7 to 10 years of experience in Insurance/Reinsurance.
• Extensive experience in financial accounting with a focus on the insurance industry.
• Strong background in financial statement preparation.

Responsibilities

• Lead the preparation and analysis of ASA reporting.
• Coordinate interactions for ASA reporting.
• Provide financial reports and analysis for senior management.
• Conduct detailed flux analyses of financial accounts.

Skills

Exceptional work ethic

Excellent analytical skills

Mentoring staff

Microsoft Suite (Excel, Word)

Communication skills

Education

Bachelor’s Degree in Accounting/Finance

MBA and/or CPA

Tools

Workday

Power BI

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.

Responsibilities and accountabilities

• Lead the preparation and analysis of ASA reporting of MCE.
• Coordinate interaction with different departments and counterparties for the ASA reporting.
• Lead the preparation and analysis of MCE financial results including underwriting profit and loss statements, relevant balance sheet accounts and key operating metrics.
• Provide financial reports, analysis and insight for internal and external financial information clients - senior management, underwriting, etc. – to ensure that consistent and accurate reporting is communicated on a timely basis, while ensuring adherence to GAAP and Statutory Accounting principles.
• Ensure coordination of the accounting of premium recognition, cash application, loss activities, commissions, reserves, and reinsurance transactions.
• Conduct detailed flux analyses of relevant balance sheet and profit and loss accounts to understand if amounts are tracking or at variance with trend and expectation, providing insightful and concise commentary.
• Will have extensive interaction with various departments at Arch Insurance North America, including underwriting, actuarial, legal, reinsurance, claims and IT, to ensure a cohesive operation supporting MCE business.
• Coordinate interaction with Internal and External Auditors regarding risk, controls, SOX compliance for the MCE business.

Required skills and abilities

• Exceptional work ethic, integrity and ability to work autonomously while effectively managing expectations.
• Excellent analytical skills with an ability to interpret complex financial data and trends.
• Experience in directing and mentoring staff, fostering a culture of collaboration, innovation, and continuous improvement.
• Strong working knowledge of Microsoft Suite (Excel, Word, etc.) Working knowledge of Workday general ledger. Power BI knowledge a plus.
• Capable of handling complex structured tasks that require close attention to timing and detail, as well as unplanned projects and challenges that require effective and unique solutions, often in a compressed timeframe.
• Experience with and exposure to various operational disciplines (actuarial, underwriting, claims, IT, etc.)
• Ability to effectively communicate analysis and conclusions to financial information end‑users.
• Exceptional communication (written and verbal), evaluating, influencing, negotiating, listening, and interpersonal skills to effectively develop productive working relationships with internal/external peers and other professionals across organizational lines.

Education and experience

• Bachelor’s Degree in Accounting/Finance Required. MBA and/or CPA preferred.
• 7 to 10 years’ Insurance/Reinsurance experience working in a management capacity in Accounting/Finance.
• Extensive experience in financial accounting, preferably within the insurance industry, with a strong background in financial statement preparation, reconciliations and flux analysis.

Compensation

Salary range: $123,400 - $166,900/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. Learn more on available benefits.

14400 Arch Insurance Group Inc.