Senior Accountant, Financial Reporting

World Insurance Associates LLC; Woodbridge Township (NJ); On-site; USD 90,000 - 130,000; Full time

Job summary

World Insurance Associates LLC invites a detail-oriented Technical Accountant to join our growing finance team in New Jersey. You will help with acquisition accounting, GAAP disclosures, and complex intercompany entries using NetSuite.

The role requires at least five years of accounting experience, familiarity with ASC 805 and ASC 606, and strong communication. CPA is preferred. You will contribute to monthly reporting and annual closes in a collaborative environment.

Qualifications

• Bachelor’s degree in accounting or related field.
• Minimum 5 years of accounting experience with technical accounting knowledge; insurance experience preferred; Big 4 desired.
• CPA preferred.
• Strong understanding of US GAAP, ASC 805 and ASC 606.
• Familiarity with ASC 718 and ASC 815.
• Proficient with NetSuite or similar ERP systems; strong MS Office skills.

Responsibilities

• Assist allocation of purchase prices and determine fair values for acquisitions.
• Read and interpret asset and equity purchase agreements and closing statements.
• Review debt agreements to record transactions per GAAP and estimate principal/interest payments.
• Assist ASC 606 revenue true-ups and fair value measurements for contingent consideration.
• Collaborate on hedge accounting and journal entries under ASC 815 and ASC 718.
• Use NetSuite to prepare intercompany journal entries across subsidiaries.
• Assist with annual audit by maintaining schedules and rollforwards.
• Prepare and review GAAP disclosures and monthly reporting to senior management and Board.

Skills

Strong communication skills

Independent worker

Problem solving

Multitasking

Self-motivated

Attention to detail

Education

Bachelor's degree in Accounting

CPA preferred

Tools

NetSuite

Microsoft Office (Word, Excel, PowerPoint)

Job description

Summary

World Insurance Associates is a unique insurance organization offering top products and services from major providers, combined with attentive service from local agents.

Founded in 2011, World is one of fastest-growing insurance brokers in the U.S. with over 2,200 employees in over 210 offices across North America.

We specialize in personal and commercial insurance lines, surety and bonding, employee benefits, financial and retirement services, and human capital management solutions.

Position Overview

An exciting opportunity to join a fast-growing company seeking a dynamic candidate to join its Technical Accounting team. The ideal candidate must be detail-oriented, driven, a quick learner, possess strong communication skills and be capable of taking ownership of complicated technical accounting matters. Additionally, the candidate will assist annual financial statement production process and other ad hoc projects as needed.

This role provides exposure to business combinations, earnouts, hedge accounting, equity and incentive plan accounting and revenue recognition. The candidate will utilize NetSuite to record complex intercompany entries and translate complex legal agreements into GAAP-compliant journal entries. This person will be joining a high performing team that believes in team-work, coaching and development and works collaboratively on new/complex matters.

Essential Duties and Responsibilities

• Assist, under the direction of the manager, with the allocation of purchase prices for newly acquired entities and determine fair values, including contingent consideration, while maintaining associated schedules.
• Read and interpret diverse asset and equity purchase agreements, along with associated closing statements and wiring instructions for ASC 805 business combination recording.
• Review new and amended debt agreements in order to record transactions according to GAAP and estimate monthly principal/interest payments.
• Assist quarterly with ASC 606 revenue recognition true-ups and fair value measurement of contingent consideration, which require substantial fair value modeling.
• Collaborate with external consultants on hedge accounting documentation and journal entries under ASC 815 and accounting for stock incentive plans, including option grants, vesting schedules, and expense recognition under ASC 718.
• Use NetSuite to prepare and record complex intercompany journal entries across multiple subsidiaries.
• Assisting with the annual audit by maintaining the Prepared by Client listing and preparing required schedules and rollforwards.
• Prepare and review financial statement disclosures in accordance with GAAP.
• Work on monthly reporting deliverables to senior management and the Board.

Qualifications

• Bachelor’s degree with concentration in Accounting.
• Minimum of 5 years of accounting experience, including working on technical accounting matters; insurance industry auditing or accounting experience is preferred; Big 4 experience is strongly desired.
• CPA preferred.
• Strong understanding of US GAAP is preferred, particularly in areas related to ASC 805 and ASC 606.
• Familiarity with ASC 718 and ASC 815 preferred.
• Possess strong administrative and computer skills, including Microsoft Office (Word, Excel and Power Point).
• Able to work independently and enjoy a high degree of interaction with team members.
• Self-motivated and driven with a sense of urgency to meet deadlines.
• Demonstrate effective written and verbal communication skills, including active listening and problem-solving capabilities with minimal assistance.
• Ability to multitask, prioritize tasks, work independently, and handle sensitive information with discretion.
• Ability to maintain well-documented and independently reviewable Excel workpapers on various complex GAAP subjects.
• Maintain a professional demeanor and positive attitude.
• Experience with NetSuite or similar ERP systems strongly preferred.

Equal Employment Opportunity

At World Insurance Associates (WIA), we celebrate and support our differences. We know employing a team rich in diverse thoughts, experiences, and opinions allows our employees, our products, and our community to flourish. WIA is honored to be an equal opportunity workplace. We are dedicated to equal employment opportunities regardless of race, color, ancestry, religion, sex, national orientation, age, citizenship, marital status, disability, gender identity, sexual orientation, or Veteran status. In addition, WIA makes reasonable accommodations to known physical or mental limitations of an otherwise qualified applicant or employee with a disability, unless the accommodation would impose an undue hardship on the operation of our business.