Reinsurance Accountant

PRI Technology; New Jersey; On-site; USD 85,000 - 120,000; Full time

Job summary

PRI Technology in Parsippany, NJ is seeking an experienced Accountant to manage end-to-end financials for PMS clients within the Insurance Accounting Department. The role requires leading monthly close, GAAP and statutory financial statements, and strong corporate accounting expertise.

You will own the general ledger, balance sheet, P&L, and journal entries, collaborate across teams, and present financial results to clients. Local candidates who are commutable are preferred.

Qualifications

• Bachelor's Degree in Accounting is required.
• 5+ years of corporate accounting experience.
• 1+ years of experience within the insurance industry.
• Strong technical accounting skills in financial statement preparation & analysis, general ledgers, P&L, balance sheets.

Responsibilities

• Actively participate in month-end close for GAAP and Statutory financial statements.
• Collaborate with departments to gather data for closing the books.
• Prepare and maintain reconciliations for all general ledger accounts.
• Identify discrepancies and resolve issues with proper documentation.
• Review bank statements and investigate discrepancies.
• Ensure timely resolution of outstanding items with stakeholders.
• Prepare and post monthly general ledger journal entries.
• Work with offshore accounting team on journal entries.

Skills

Corporate accounting

Communication

Financial reporting

Education

Bachelor's Degree in Accounting

Tools

NetSuite

Job description

Job Description

Job Description

THIS ROLE WILL BE ONSITE 5 DAYS PER WEEK IN PARSIPPANY, NJ.

Reinsurance company on behalf of their clients, and part of our services is to perform and provide financials for them on each entity they own. Each accountant on the team is assigned a certain number of clients, and they perform end-to-end accounting for each client's reinsurance company. The accountant are performing financials for multiple reinsurance entities. That being said, the accountant need to be strong in overall corporate accounting and have a deep understanding of accounting for insurance companies (premiums, cession statements, statutory, etc.).

Below are some quick highlights of must haves and role details:

Key must-haves:

• Bachelor's Degree in Accounting is required*


• Accounting experience in the insurance industry required


• 5+ years of corporate accounting experience


• Experience preparing financials and owning the entire GL, financial statements, P&L, month-end close, balance sheet, journal entries, etc.


• Excellent and clear communication - they may act as a point of contact to our clients and communicate/present financials to them


• Local/commutable

Currently in the process of transitioning into NetSuite as our new ERP system, so if they have experience with that platform, that is a great plus.

Job Summary:

The Accountant within the Insurance Accounting Department plays a pivotal role in managing the financial reporting for Provider Management Services (PMS) clients. This position is responsible for ensuring accurate and timely financial data is prepared and reviewed, including the preparation of monthly financial statements, balance sheets, and income statements. These statements are critical for management's review and decision-making. The Accountant will maintain a thorough understanding of each assigned client's financial status, enabling them to answer complex questions from both the client and internal teams, ensuring compliance with all accounting standards and regulations.

Duties/Responsibilities:

• Actively participate in the month-end close process for assigned clients, ensuring accurate preparation and/or review of both GAAP (Generally Accepted Accounting Principles) and Statutory financial statements.


• Collaborate with other departments to gather necessary data for closing the books, ensuring the timely completion of reports for internal and client management.


• Prepare and maintain detailed reconciliations for all general ledger accounts, ensuring that all balances are accurate and in compliance with financial reporting standards.


• Identify discrepancies and work proactively to resolve issues, ensuring all adjustments are properly documented.


• Review and reconcile bank statements monthly, including researching and investigating any unknown deposits, withdrawals, or other discrepancies.


• Ensure the timely resolution of any outstanding items, communicating effectively with both internal and external stakeholders as needed.


• Prepare and post monthly general ledger journal entries, ensuring they are supported by clear, concise descriptions and adequate documentation.


• Work closely with the offshore accounting team to ensure journal entries are accurate and properly classified.


• Review cession and loss experience reports prepared by the Reporting Team, ensuring accuracy and alignment with financial statements and records.


• Provide feedback and support to the Reporting Team for report improvements or adjustments.


• Assist with both external and internal audits by providing necessary documentation, explanations, and support during the audit process.


• Perform ad hoc financial analysis and special projects as needed, providing insights or solutions to unique client or internal accounting issues.


• Collaborate with other teams to complete these projects and ensure they align with organizational goals.

Required Experience & Qualifications:

• Bachelor's Degree in Accounting required.


• Minimum of 5+ years of experience in corporate accounting.


• Minimum of 1+ years of experience within the insurance industry.


• Must have strong technical accounting skills in financial statement preparation & analysis, general ledgers, P&L, balance sheets, revenue recognition, etc.


• Strong verbal and written communication skills are essential, including the ability to articulate complex financial data to both clients and management in a clear and concise manner.


• High pr