Arch

  • Program Accountant

    Entity Arch Insurance Group Inc (U.S.)
    Job Locations US-NJ-Jersey City
    Job ID
    2019-2859
    Business Segment
    Insurance
    # of Openings
    1
    Category
    Finance
  • The Position

    This position entails interacting with underwriters and General Agents on an as needed basis regarding data requests and verification of data presented by the Agent. The Program Accountant is responsible for recording the written premiums produced by the Agent, along with collecting and applying cash relating to the premiums. This position is responsible for the day to day operations of the business products assigned by Program Finance management. This person will be expected to learn the process and produce timely and accurate financial reporting of their assigned accounts.

    Job Responsibilities

     

    • Process all Premium and cash activity for assigned programs
    • Interact with the units Underwriters to verify premium and commission and reinsurance contracts
    • Update premium receivables for all assigned programs
    • Process cash received monthly and apply to the open premium receivable balances
    • Follow up with MGAs/Producers regarding status of open balances
    • Process and prepare Reinsurance Statements monthly
    • Process all Reinsurance related cash activity and update applicable sub-ledgers
    • Prepare monthly reconciliation of sub-ledgers to general ledger
    • Correspond with brokers on discrepancies regarding premiums, cash payments, commission differences etc
    • Prepare manual adjustments for Quarter Closing process
    • Produce Quarterly P&Ls for the respective business assigned
    • Assist with financial audits of MGAs when applicable
    • Ensuring that the MGA is in compliance with the Terms of the Agency Agreement including but not limited to the completion of Premium Bank Reconciliation's, and the forwarding of Aged Receivable Reports, review of the Agency's E & O policy to ensure that it is current
    • Handle all special projects and financial analysis as assigned by management

    Required Skills/Experience

    • 3 to 5 years experience working in Accounting/Finance with emphasis on the insurance/reinsurance industry

    Desired Skills/Experience

    • Ability to improve and evaluate processes to identify opportunities for improvement
    • Strong working knowledge of Microsoft Suite (Excel, Word, etc.) 
    • Working knowledge of Great Plains General Ledger
    • Strong verbal and written communication skills

     

    Education

    • Degree in Finance/Accounting preferred

    The Company

    Arch Insurance is a global insurer offering our clients superior coverage and service. We embody the Arch guiding principle of focusing on retaining experienced and talented employees to differentiate us from the rest of the pack. Our group operates from offices in the US, Canada, Bermuda, UK, Australia and South Africa, providing specialty risk solutions to clients worldwide across a wide range of industries. With over ten years of operating history and strong financial ratings, our track record remains solid.

     

    Arch Insurance employs a disciplined underwriting approach and prudent risk selection across all types of business. Our mission is to provide our insureds with superb coverage and claims handling through careful and diligent underwriting of risks and business-friendly solutions. Across our global operations, Arch Insurance employees are ready to meet your needs with professionalism and excellence.

    Options

    Sorry the Share function is not working properly at this moment. Please refresh the page and try again later.
    Share on your newsfeed