Reinsurance Senior Accountant

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

Job summary

Join a leading insurance company as a Senior Associate in Corporate Finance, focusing on reinsurance business analysis and financial reporting. Collaborate with diverse teams, ensure data accuracy, and drive continuous improvement in financial processes. This hybrid role offers competitive pay and a comprehensive benefits package.

Benefits

Comprehensive benefits package

Leave programs

Adoption assistance

Student loan repayment

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.
• Collaborate with policy systems and product management teams.
• Support external auditors during annual financial statement audits.

Skills

Analytical

Interpersonal Skills

Self-Motivated

Education

Bachelor's Degree in Accounting or Finance

Master's Degree (preferred)

Tools

Excel

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 will be part of an inclusive team guided by our belief to always be there for each other—providing the support and flexibility to 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.

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, including developing 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 stakeholders on product performance via analysis of monthly, quarterly, and annual results.
6. Support the completeness and accuracy of key performance indicators with targeted reviews.
7. Coordinate the production of reports within the Life and Disability Income Controllers book, including the quarterly financial results package.
8. Work with finance, actuarial, and reporting teams to complete Statutory Blue Book schedules and exhibits, and prepare statutory footnotes.
9. Support external auditors, including PwC, during the annual financial statement audits.
10. Ensure adherence to MAR/SOX requirements by documenting, testing, and reviewing controls and procedures.
11. Apply a continuous improvement mindset to evaluate processes for more efficient data delivery and analytics, as well as more effective insights for controllers and the business.
12. Partner with the Accounting Policy team to perform research and develop recommendations on technical accounting issues.
13. Leverage AI tools and emerging technologies (e.g., GenAI, RPA, machine learning platforms) to optimize workflows and enhance data quality, improving close cycles.

What You’ll Bring:

A successful candidate should have:

1. A bachelor’s degree in Accounting or Finance (a master’s degree is desirable but not required).
2. At least 5-7 years of accounting and financial reporting experience in insurance, reinsurance, or public accounting. Prior experience in reinsurance is strongly preferred.
3. Understanding of Statutory accounting rules, procedures, and internal controls, with current trend awareness.
4. Expert knowledge of Excel and other reporting, analytical, or programming tools to facilitate continuous improvement.
5. A self-motivated individual with strong interpersonal skills, professionalism, and integrity.
6. Knowledge of SAP, AFO, Wdesk, Tableau, SQL is a plus.
7. Experience applying 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

Base salary will be determined based on experience, skills, qualifications, and location. Employees are eligible for an annual discretionary bonus and may participate in incentive programs.

Our Benefits

We offer a comprehensive benefits package, including leave programs, adoption assistance, and student loan repayment programs. For more details, click here or visit our NYL Benefits Site.

Our Commitment to Inclusion

At New York Life, fostering an inclusive workplace is fundamental. We are committed to creating an environment where every employee feels valued and supported, embracing diverse perspectives and experiences. Learn more about our leadership in inclusion here.

Recognized as one of Fortune’s World’s Most Admired Companies, we are dedicated to community involvement through employee giving and volunteerism, supported by our Foundation. For career opportunities, visit our Careers page or www.NewYorkLife.com.

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Visit our Newsroom to learn more about our ongoing evolution to meet client and employee needs.

Job Requisition ID: 91902