Reinsurance Senior Accountant

New York Life Insurance Company; New York (NY); Hybrid; USD 95,000 - 163,000; Full time

Job summary

Join a leading company as a Senior Associate in Corporate Finance, focusing on financial stewardship and strategic impact. Collaborate with diverse teams to ensure data accuracy and enhance business performance. Bring your expertise in accounting and financial reporting to drive continuous improvement and support stakeholders effectively.

Benefits

Leave Programs

Adoption Assistance

Student Loan Repayment Programs

Qualifications

• 5-7 years of accounting and financial reporting experience in insurance or reinsurance.
• Understanding of statutory accounting rules and internal controls.

Responsibilities

• Monitor and analyze the Company’s reinsurance business.
• Manage accounting and reporting of co-insurance treaties.
• Collaborate on new insurance product implementations.

Skills

Excel

Interpersonal Skills

AI Tools

Education

Bachelor’s Degree in Accounting or Finance

Tools

SAP

Tableau

SQL

Job description

Location Designation:Hybrid - 3 days per week

Our New York Life culture has laid the foundation for over 180 years of commitment to our employees, agents, policy owners, and the communities where we live and work. Here you become a valued part of a welcoming, inclusive, and caring organization with a long-standing legacy in stability and growth. The strength revolves around our diversified, multi-dimensional business portfolio that goes beyond life insurance.

As a Fortune 100 company and industry leader, we provide an environment where you can explore your career ambitions, offering opportunities to tackle meaningful challenges and stretch your skills while balancing work and life priorities. You willbe part ofan inclusive teamguided by our belief to always be there for each other–providing the support and flexibilityto grow and reach new heights while making an impact in the lives of others.

You are our future, and we commit to investing in you accordingly.

Join Corporate Finance where expertise meets strategic impact. Partner with diverse business units, providing financial insights and guiding sound decision-making. You'll work collaboratively to ensure data accuracy, implement robust controls and safeguard policy owners’ interests. Become part of a team dedicated to financial stewardship, enabling business performance and paving the way for a secure future for generations to come.

You are our future, and we commit to investing in you accordingly.

Position Summary:

The mission of the Business Unit Accounting & Controls – Life and Disability (“BUAC Life & DI”) team of the Corporate Controllers Department is to partner with our stakeholders by understanding their needs to ultimately provide a service that is superb, timely and valuable, while simultaneously expanding and improving our service capabilities.

Life & Disability Controllers works closely with a variety of stakeholders in New York Life Insurance Company’s insurance lines of business (including our Mexican subsidiary Seguros Monterrey New York Life) and other corporate areas to ensure the integrity of New York Life general ledgers, deliver timely and accurate financial reporting and drive continuous improvement in our processes.

What You’ll Do:

This Senior Associate position will be located in our New York City office and will be responsible primarily for the following:

1. Monitor and analyze the Company’s reinsurance business, which includes the development of reports to aid in analysis to ensure completeness and accuracy.
2. Manage the accounting, reporting and analysis of certain co-insurance treaties, including managing the relationship with NYL counterparties in these treaties.
3. Own the end-to-end reporting and control framework for both assumed and ceded reinsurance arrangements, including validation of premiums, claims, and reserves.
4. Collaborate with policy systems and product management teams in the implementation of new insurance products, as well as changes to existing products. This entails understanding life insurance products and their related accounting flows.
5. Share financial insights with our stakeholders on product performance via analysis of monthly, quarterly, and annual results.
6. Support the completeness and accuracy of our key performance indicator with targeted reviews.
7. The production and coordination of certain reports within the Life and Disability Income Controllers book, the group’s quarterly financial results package.
8. Work with business unit finance, corporate actuarial and corporate reporting team to complete Statutory Blue Book schedules and exhibits and Statutory audited footnotes.
9. Support our external auditor, PwC, with their performance of the annual financial statement audits.
10. Ensure our adherence with MAR/SOX requirements including documenting, testing, and reviewing controls and procedures.
11. Apply a continuous improvement mindset to evaluate processes, which seek more efficient delivery of data and analytics, as well as more effective controller & business insights.
12. Partner with our Accounting Policy team to perform accounting research and develop recommendations related to technical issues.
13. Leverage AI tools and emerging technologies (e.g., GenAI, RPA, machine learning platforms) to optimize accounting workflows and enhance data quality to improve close cycles.

What You’ll Bring:

A successful candidate should have

1. A bachelor’s degree in Accounting or Finance preferred (a master’s degree is desirable but not required).
2. At least 5-7 years of accounting and financial reporting experience in insurance or reinsurance industries or public accounting. Prior experience in accounting and reporting at a reinsurance company is strongly preferred.
3. Possess an understanding of Statutory accounting rules, procedures and internal controls and keeps up to date with current trends.
4. Expert level knowledge of excel and other reporting, analytical or programming tools is crucial to facilitate continuous improvement.
5. A self-motivated individual with strong interpersonal skills who demonstrates a high level of self-awareness, professionalism and integrity in all interactions is required.
6. Knowledge of SAP, AFO, Wdesk, Tableau, SQL is a plus
7. Demonstrated ability to apply AI tools in financial reporting or reconciliation processes is strongly preferred.

Pay Transparency

Salary Range:$95,000-$162,500

Overtime eligible:Exempt

Discretionary bonus eligible:Yes

Sales bonus eligible:No

Actual base salary will be determined based on several factors but not limited to individual’s experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.

Our Benefits

We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work.Click hereto discover more about our comprehensive benefit options or visit our NYL Benefits Site.

Our Commitment to Inclusion
At New York Life, fostering an inclusive workplace is fundamental to who we are and how we serve our communities. We have a longstanding commitment to creating an environment where individuals can contribute their best and succeed together. This foundation is rooted in our core values of humanity and integrity, ensuring that every employee feels valued and supported. By embracing a broad range of perspectives and experiences, we achieve greater success and fulfill our promise of providing financial security and peace of mind to families across all communities. Click here to learn more about New York Life’s leadership in this space.

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by theFoundation.We're proud that due to our mutuality, we operate in the best interests of our policy owners. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.

Visit our LinkedIn to see how our employees and agents are leading the industry and impacting communities.

Visit our Newsroom to learn more about how our company is constantly evolving to meet our clients' and employees’ needs.

Job Requisition ID:91902