Reinsurance Accountant

Job Summary

The Reinsurance Accountant is responsible for managing financial operations and ensuring compliance with accounting standards and regulations. The role handles responsibilities which include preparing journal entries, reconciliations, financial reports, analyzing financial data, managing financial risks, maintaining internal controls, and supporting audits. The role also plays a critical role in ensuring the financial health and compliance of the company, by overseeing the financial operations related to insurance policies, claims, and investments. This role supports in maintaining the financial stability of the company by managing its financial resources and making strategic decisions to optimize financial performance.

Job Responsibilities

• Prepares and analyzes financial reports to support decision-making processes and identify areas for improvement.
• Ensures compliance with accounting standards and regulations by implementing and monitoring internal controls and policies.
• Develops and maintains relationships with stakeholders such as auditors, regulators, and other departments to facilitate effective communication and collaboration.
• Manages financial risks by assessing and mitigating risks related to investments, claims, and other financial activities.
• Conducts financial analysis and provides insights to management on financial performance, trends, and opportunities.
• Prepares monthly property/casualty and non-insurance financial statements and supplemental reports on both a Statutory and a GAAP basis.
• Leads frequent communication with external customers, including state and federal regulators and auditors, and internal business partners at all levels in the organization, on topics such as responding to their specific questions on regulatory filings, the process used to calculate a journal entry, or questions on what specific expenses are captured in a certain line on a regional income statement.
• Supports audits by providing necessary documentation, data, and information to internal and external auditors to ensure compliance and accuracy.
• Works with business leaders and others within the Finance department to ensure that correct structures (tree based) are in place for accurate reporting within the accounting system.

Job Qualifications

• 2+ years of experience in Accounting or a related field.
• Bachelor''s degree in Accountancy, Finance and/or commensurate experience.

Location

Hybrid - defined as working three or more days per week in the office if the employee's residence is within 50 miles of Westfield Center, OH; or Remote - if the employee resides more than 50 miles from Westfield Center, OH.

Licenses and Certifications

• Certified Public Accountant (CPA) (Preferred)
• Certified Management Accountant (CMA) (Preferred)

Behavioral Competencies

• Collaborates
• Communicates Effectively
• Customer Focus
• Decision Quality
• Nimble Learning

Technical Skills

• Accounting Software & Tools
• Financial Analysis
• Auditing
• Risk Management
• Financial reporting
• Computerized Accounting
• Audit & Compliance
• Stakeholder Management
• Reinsurance Accounting (preferred)

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.

Founded in 1848, Westfield is a global leader in property and casualty insurance, delivering superior risk insights and innovative solutions to customers through a diverse portfolio of insurance products. Westfield underwrites commercial, personal, surety, and specialty lines of coverage through a network of leading independent agents and brokers in the United States and specialty products through Lloyd's of London Syndicate 1200. As a mutual insurance company with more than 3,000 employees, Westfield has revenues in excess of $4 billion and more than $10 billion in assets.