Financial Accountant
RenaissanceRe · Australia · 1y ago
RenaissanceRe is a leading writer of Property & Casualty Reinsurance. For over 25 years, we have helped customers and communities recover and build resilience through our industry-leading ability to understand risk, source efficient capital and rapidly pay claims.
Our global team shares a passion for solving our customers’ biggest problems through a collaborative and entrepreneurial culture that empowers employees and rewards creative thinking.
About the Position
Reporting directly to the VP, Controller – Australia. The Financial Accountant role is based in the Australia, Sydney office. This role is responsible for supporting certain aspects of the financial accounting, internal controls, budgeting, and financial reporting for the company. In this role, you will have the opportunity to develop specific skillsets, exposure into operations to deepen your understanding of the business and involvement in projects to enhance the efficiency and effectiveness of reporting requirements in an increasingly complex environment. The role will work closely the wider Finance team and the other business functions to value add the relevant business areas.
Key Responsibilities
Reinsurance Accounting
Assist with all aspects of monthly and quarterly reinsurance premiums and claims reporting from internal business unit, level reporting and legal entity review to external SEC, GAAP, and local Australia regulatory reporting.
Assist with maintaining an appropriate S.O.X 404 control environment for the booking of premiums, claims and related transactions in both reinsurance accounting systems and general ledger. Ensuring timely monthly and quarterly close of reinsurance systems.
Perform accounting reviews and analysis of reinsurance contracts to ensure appropriate GAAP accounting treatment.
Assist with technical analysis of contracts and other FASB and SEC research.
Perform detailed analysis and monthly/quarterly reconciliation of assumed/ceded premiums and claims to ensure a thorough understanding of reported results, troubleshooting any issue through to a successful conclusion.
Participate in on-going refinement/improvement of business processes, analytical tools and reinsurance accounting platform ensuring the Australia team needs are met.
Financial Accounting
Complete for all aspects of monthly and quarterly consolidation and close processes.
Ensure appropriate S.O.X 404 processes exist and followed for preparation and submission of financial data.
Support the continued enhancement of and on-going development of various financial systems.
Support the preparation of detailed analysis, journal entry bookings and monthly/quarterly reconciliation to the general ledger, including bank and intercompany reconciliation.
Assist in the management of monthly general ledger entries.
Assist with the preparation of budgets and other financial plans for management information and group reporting.
Assist with annual GAAP and Statutory financial statements.
Liaise with internal and external auditors and vendors.
Strategic Projects
Involvement in ad-hoc accounting projects and support the global Finance team as needed.
Candidate Qualifications
Degree is essential with emphasis on business, finance, and accounting.
Professional accounting designation preferable (i.e., CA, ACA, CPA)
Candidate Experiences
Minimum 3 years of Big Four external audit experience or equivalent and 2 years’ post-qualification experience. Experience working with General Insurance organizations as an auditor or internal accountant is preferred.
Knowledge of generally accepted accounting principles (GAAP), and an understanding of GAAP for reinsurance transactions is preferred.
Experience with public companies, S.O.X 404 and FRS117 Insurance is advantageous.
Experience with Microsoft D365 and SICS reinsurance accounting systems is preferred.