Benefits:- 401(k)
- 401(k) matching
- Competitive salary
- Dental insurance
- Health insurance
- Opportunity for advancement
- Paid time off
- Vision insurance
Cost Accountant – Wholesale Insurance Brokerage
About the Company
FORAY SPECIALTY is the fastest-growing employee-owned specialty wholesale insurance broker. Our independence and specialty focus allows us to deliver industry leading solutions to our clients. Each member of our team is well-recognized as a technical leader in their unique class of business. Our partner markets include a wide variety of MGAs, Surplus Lines Markets, Domestic and International Reinsurers, as well as admitted local carriers. Our market knowledge is our business, and our people are what makes us different.
About the Role
We are seeking a highly analytical Cost Accountant to join our finance team and support the operational and financial performance of our wholesale insurance brokerage. This role is responsible for analyzing operating costs, reconciling commission revenue, and developing cost‑allocation models that help leadership understand profitability across teams, product lines, and carrier relationships. The ideal candidate brings strong accounting skills, insurance industry knowledge, and the ability to translate financial data into actionable insights.
Key Responsibilities
- Perform detailed cost analysis across departments, brokerage teams, and product lines, including direct and indirect operating expenses
- Develop and maintain cost‑allocation models for policy processing, underwriting support, technology systems, and producer compensation
- Reconcile carrier commission statements, including base commissions, overrides, contingencies, and profit‑sharing agreements
- Review and validate premium flow‑through accounting, ensuring accurate separation of pass‑through premiums and earned revenue
- Assist with payable and receivable reconciliations, identifying discrepancies and coordinating resolution with internal teams
- Prepare monthly and quarterly cost‑related financial reports, schedules, and variance analyses
- Support internal, external, and regulatory audits by providing documentation and analysis related to costs, commissions, and premium activity
- Contribute to annual budgeting and forecasting processes, including cost modeling and scenario analysis
- Identify opportunities to improve operational efficiency, reduce costs, and enhance margin performance
- Collaborate with underwriting, operations, and leadership to understand workflow costs and productivity metrics
Qualifications
- Bachelor’s degree in Accounting, Finance, or related field
- 2–5 years of experience in cost accounting, financial analysis, or insurance accounting
- Experience in wholesale insurance, surplus lines, or brokerage operations preferred
- Strong proficiency in Excel (pivot tables, lookups, modeling)
- Familiarity with brokerage management systems
- Vertafore-MGA Systems Experience
- Strong analytical skills, attention to detail, and ability to work with large data sets
- Excellent communication skills and the ability to collaborate across departments