Staff Accountant

Hannover Re; Itasca (IL); Hybrid; USD 74,000 - 100,000; Full time

Benefits offered by this job

Comprehensive medical, dental, and vis

Paid Time Off (PTO)

Life insurance

Disability benefits

401(k) and profit sharing

Job summary

Hannover Re in Itasca, IL is hiring a Staff Accountant to provide financial and administrative services, reporting to the controller and maintaining accounting records in the general ledger. The role emphasizes accuracy, timely journal entries, and cross-functional coordination with program administrators, reinsurers and external service providers.

The position requires 5+ years of agency or carrier insurance experience, strong Excel/MS Office skills, and proficiency with general ledger

Qualifications

• 5+ years of agency or carrier insurance experience required
• Ability to meet deadlines, prioritize and multitask
• High level of demonstrable skills with MS Office (notably Excel)
• Proficient in the use of general ledger software, ConceptOne a plus
• Strong interpersonal and organizational skills, strong communication, both paper and over the telephone
• Undergraduate degree in accoutning or finance preferred

Responsibilities

• Day-to-day processing of financial transactions to maintain up-to-date accounting records
• Reconcile program submissions, production reports, receivables and GL
• Prepare monthly reports and journal entries
• Coordinate with program administrators, TPAs, carriers, reinsurers and external providers
• Assist in quarterly financial close and audits

Skills

Insurance industry experience

Excel

General ledger

Communication skills

Education

Bachelor's degree in accounting or finance

Tools

ConceptOne

Job description

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Hannover Re – as one of the world’s leading reinsurers, we provide coverage for the risks of yesterday, today and tomorrow. Our strength? Connecting Power: Within our global team of around 4,000 colleagues, we bring together knowledge, perspectives and a strong sense of responsibility. We rely on one another, challenge ourselves and continuously develop both our services and our products. Whether working with risk calculation models, developing digital tools or creating pragmatic solutions for our clients: here, you can contribute your expertise and actively shape what comes next.Sounds good? Get to know us as a reliable employer and find your place with us.

Hannover Re Services is currently seeking talented candidates for our open Staff Accountant position. This is a Full-Time role within the Glencar Underwriting Managers department. Please see below for more information regarding the essential functions of this position, required qualifications, and how to apply.

You can look forward to

This is a hybrid role, with a minimum of one day required in the Itasca, IL office.

Job Summary:

The staff accountant is responsible for providing financial and administrative services in order to ensure effective, efficient and accurate financial operations. Reporting to the controller, under moderate to minimal supervision the position will establish, maintain and review accounting records including monthly production recording, premium accounts receivable, and potentially other related financial transactions. Prepares and/or keys journal entries into the general ledger system. Responsible for tracking and resolving outstanding payment issues, generates invoices, statements, and monthly reports in a timely manner. Communicates and coordinates with all levels of the internal organization and external program administrators, TPAs, carriers, reinsurers and outside service providers to reconcile receivables, production data and other accounting issues as necessary. Position requires knowledge of general accounting-principals and proficiency in accounting software and MS Office (notably Excel).

Essential Functions:

• (55%) Perform the day to day processing of financial transactions to ensure that accounting records (including general ledger) are maintained in an effective, up to date and accurate manner:
  Cash Receipt and Reconciliation
  Monitor premium trust bank account and prepare deposits for recording cash in general ledger
  Reconcile monthly account current submissions from program administrators to production reports, receivables, cash and general ledger
  Reconcile daily premium payments from insureds, communicate directly with insureds on payment discrepancies
  Maintain accurate aging reports
  Prepare monthly reports as required
• (15%) Monthly Revenue Reporting
  Review and reconcile program administrator monthly premium production reports
  Communicate with administrators and data team on problem resolution
  Reconcile payment bordereaux and monthly payments to the carriers
  Complete payments and entries in the general ledger
• (10%) Comply with Glencar’s administrative rules and business practices; meet specified performance goals.
• (5%) Effectively and promptly research, track and resolve (or properly refer) accounting or documentation problems and discrepancies to ensure accuracy of general ledger, internal and external reports.
• (5%) Responsible for preparation of journal entries, account reconciliations and other duties as part of the quarterly financial close.
• (5%) Assist in the positive management of relationships with Glencar’s program administrators, general agents, retail agents/brokers, management and staff, carriers, reinsurers, claims TPA’s and any other third-parties supporting Glencar; while appropriately advancing and balancing the interests of all Glencar stakeholders.
• (5%) Assist as needed in the preparation of program administrator and general/retail agent audits.

You come equipped with

• Communicates Effectively
• Action Oriented
• Decision Quality

Essential knowledge, skills, and abilities:

• 5+ years of agency or carrier insurance experience required
• Ability to meet deadlines, prioritize and multitask
• High level of demonstrable skills with MS Office (notably Excel)
• Proficient in the use of general ledger software, ConceptOne a plus
• Strong interpersonal and organizational skills, strong communication, both paper and over the telephone

Desired knowledge, skills, and abilities:

• Undergraduate degree in accoutning or finance preferred

Travel:

• 5% - Domestic travel with overnight stays

Total Compensation (Inclusive of Base + Bonus):

• $74,200 - $100,400

Benefits Include:
- Comprehensive medical, dental, and vision
- Paid Time Off (PTO)
- Company provided life insurance and disability benefits
- 401(k) and profit sharing
- Additional ancillary benefits available

Hannover Life Reassurance Company of America (Hannover Re) seeks to attract the best-qualified candidates who support the mission, vision and values of the company and those who respect and promote excellence through diversity. We are committed to providing equal employment opportunities (EEO) to all employees and applicants without regard to race, color, creed, religion, sex, age, national origin, citizenship, sexual orientation, gender identity and expression, physical or mental disability, marital, familial or parental status, genetic information, military status, veteran status or any other legally protected classification. The company complies with all applicable state and local laws governing nondiscrimination in employment and prohibits unlawful harassment based on any of the aforementioned protected classes at every location in which the company operates. This applies to all terms, conditions and privileges of employment including but not limited to: hiring, assessments, probation, placement, benefits, promotion, demotion, termination, layoff, recall, transfer, leave of absence, compensation, training and development, social and recreational programs, educational assistance and retirement.

We are committed to making our application process and workplace accessible for individuals with disabilities. Upon request, Hannover Re will reasonably accommodate applicants so they can participate in the application process unless doing so would create an undue hardship to Hannover Re, or a threat to these individuals, others in the workplace or the company as a whole. To request an accommodation, email [e-mail]. Please allow for 24 hours to process your request.

We will accept applications until a candidate has been identified and selected to fill this position.