Staff Accountant

Socket.dev; Oakbrook Terrace (IL); Hybrid; USD 75,000 - 85,000; Full time

Benefits offered by this job

Hybrid and remote work environments

Full benefits including health, dental

401k with company match

Generous PTO 22 days

Parental leave

Wellness reimbursement

Tuition reimbursement

Employee referral program

Job summary

Socket.dev is seeking a Staff Accountant in a hybrid role based in Oakbrook Terrace, IL. You’ll prepare monthly and quarterly journal entries for gross and ceded underwriting activity, work on reinsurance statements, and complete settlement invoices.

The position reports to the AVP of Program Accounting and involves analysis, reconciliations, and support for annual statements. Ideal candidates have 2–3 years of statutory insurance accounting, proficiency in Excel, and experience with Oracle

Job description

Position Overview

The Staff Accountant is responsible for preparing monthly and quarterly journal entries for gross and ceded underwriting activity for various management programs. This includes reviewing and journalizing activity related to Premiums collected and uncollected, Losses paid and unpaid, and related commission expenses paid and accrued. In addition, the individual will be preparing reinsurance statements and reporting as required. Complete monthly settlement invoices and billing for actual premium and loss activity. Perform account reconciliations, quarterly variance analysis and assist with the completion of Reinsurance schedules within the Annual Statement.

This role will report to AVP of Program Accounting.

Essential Elements

• Record and journalize underwriting activity for assigned products.
• Process reinsurance activity in accordance with contract terms, including tracking payables and recoverables in the Cash Application System.
• Prepare general ledger account reconciliations accurately and on time.
• Perform balance sheet and income statement variance analysis versus forecast and document key drivers.
• Prepare quarterly underwriting reporting, including loss development schedules and losses by incurred year for assigned programs/products.
• Prepare and reconcile quarterly analytics and support annual reinsurance filings.
• Support system changes by completing required uploads and UAT testing for new product lines.

Requirements

Education and Certifications

• Bachelor’s degree in Accounting or Finance or commensurate experience

Experience

• 2-3 years of statutory insurance accounting experience preferred
• Working knowledge of insurance products and contracts (A&H, Life, P&C)
• Proficiency with Microsoft Office (especially Excel)
• Experience with accounting and reporting tools such as Oracle Fusion G/L, SmartView, Power BI, Alteryx, Access, and eFreedom Annual Statement preferred
• Strong foundation in accounting and statutory insurance accounting requirements
• Strong organizational, time-management, and prioritization skills; ability to meet strict deadlines
• Customer-service mindset with the ability to work effectively with internal partners, vendors, auditors, intermediaries, and TPAs
• Demonstrated technical agility and continuous-improvement mindset, including automation/process improvement (e.g., Copilot/AI, VBA) preferred
• Basic understanding of insurance operations and reinsurance accounting is a plus

Travel

• This is a Hybrid position requiring an average of 2 days per week in office.

Compensation And Benefits

The target base salary range for this full-time, salaried position is

$75,000 - $85,000

Individual base pay depends on work location and additional factors such as experience, job-related skills, and relevant education or training. Total pay may include other forms of compensation. In addition, we offer competitive health, dental, 401k and wellness benefits beginning on the first day of the month following the first day of employment. Please ask your Talent Acquisition Specialist for more information about our total rewards package.

What we offer:

• Hybrid and remote work environments
• Full benefits including flexible HSA/PPO medical plans, Dental, Vision, and HSA/FSA
• 401(k) w/ up to 6% company match
• Generous PTO starting at 22 days annually
• 12 paid holidays
• Parental leave
• Home office and wellness reimbursement
• Generous employee referral program
• Professional development and development planning: tuition reimbursement, continuing education & assistance obtaining professional certifications