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Sr Accountant II - Technical Accounting

Job Level:  Professional
Location: 

Chicago, IL, US, 60606

Due Date:  As soon as possible
Area of Expertise:  Finance & Accounting
Unit:  Allianz Global Corporate & Specialty
Job Type:  Full-Time
Remote Job:  Not applicable
Employment Type:  Permanent
ID:  7633

Role Purpose:

This position will be responsible for supporting technical accounting and reporting topics related to the net underwriting results of the organization with a focus on the gross insurance business on a STAT and IFRS basis.  Responsibilities include, but are not limited to, reconciling premium and loss data from feeder systems, recording IBNR and pooling, and delivering on IFRS and STAT regulatory reporting deadlines and preparation of underwriting schedules for the NAIC annual statements. Accountabilities also include assisting to complete statutory audited financial statements and support of data requests related to external audits and state examinations.  Assist in project work as assigned.

 

Key Responsibilities:

 

Reporting and Closing:

  • Prepare financial statement deliverables (Statutory and IFRS)  prepared by team
  • Support close related changes and issues that arise and represent team on certain subjects
  • Ensure integrity of system close feeds impacting area
  • Ensure that all IFRS, GAAP and Statutory closing and reporting tasks (e.g. annual report, reporting to regulatory authorities, NAIC reporting) related to own area of responsibility are accurate and timely on a global basis.
  • Ensure completion of assigned ad-hoc postings, Journal Entries and Account reconciliations on a periodic basis.
  • Assist in creation and publishing of monthly and quarterly reporting package for IFRS and STAT results that includes analytics and metrics over the income statement and balance sheet.
  • Ensure completion of monthly legal entity close submission activities, including posting of accruals, deferred acquisition expenses and other accounting transactions.
  • Assist in  preparation of technical account analyses and data checks for monthly and annual IFRS (ECCS) reporting and underwriting schedules for quarterly and yearend statutory reporting.

 

Project work

  • Participate as assigned in Local and Global Projects (IFRS 17, ledger transformation efforts)
  • Participate as assigned for technical accounting guidance matters for significant transactions (Ex. Sales of subsidiaries) both locally and globally
  • Identify process improvements into project work and ensure desired results
  • Identify and rectify post go-live issues

 

Manage relationship with 3rd parties (auditors, biz units, tax authorities, public authorities, etc.)

  • Coordinate and resolve of closing issues with heads of business units to ensure quality financial statements that comply with local and global reporting standards
  • Assist in the completion of audited financial statements and coordinate data requests for external audits and state examinations relating to the statutory underwriting results
  • Own relationship with 3rd party cedants, evaluate business cases, and oversee all bookings and settlements (facilities, pools, etc.)
  • Complete Ad-hoc requests

 

Process Improvements:

  • Identify and implement technology leading to team, area, or sub function process efficiencies
  • Coordinate initiatives with business units E2E  locally to result in process efficiencies.
  • Understand manual processes and implement process improvements to make the processes more efficient and with strong controls.

 

Required Skills:

  • Bachelor’s degree in Accounting, Finance or Business degree
  • 1-3 years of experience working in an insurance accounting and reporting department for a property and insurance company.
  • 3-5 years of experience in the preparation of the Financial Statements
  • Relevant insurance accounting experience, including knowledge of US statutory and GAAP accounting principles.  Knowledge of IFRS is a plus.
  • Exposure to insurance system architecture for UW and Claims functions.
  • Knowledge of insurance accounting principles and reporting especially for property and casualty companies
  • Detailed knowledge of insurance functions and processes E2E, including UW/Claims/Operations/Actuarial and functions of underlying systems
  • Experience with SAP/BW/Cognos and proficient in Microsoft Office products.
  • Data Quality and Reporting: Ensuring compliance of closing, reporting with internal & external requirements
  • Ability to identify and initiate appropriate actions to remediate issues that can be abstract / ambiguous and follow through on their remediation.
  • Ability to identify and initiate appropriate actions to remediate issues that can be abstract / ambiguous and follow through on their remediation.
  • Ability to identify patterns and root causes in complex (e.g. ambiguous from various sources) data and processes to rapidly distill key issues and provide insight in various situations.

 

Compensation is commensurate with skills and experience and includes a comprehensive best in class benefits package.  Any salary or benefits information provided by third party resources such as external job posting websites etc., cannot be deemed reliable.

 

 

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. Join us. Let’s care for tomorrow.

 

We at Allianz believe in a diverse and inclusive workforce and are proud to be an equal opportunity employer. We encourage you to bring your whole self to work, no matter where you are from, what you look like, who you love or what you believe in.

 

Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business.

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are not only the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film productions. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.

 

Worldwide, AGCS operates with its own teams in 32 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,300 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2019, AGCS generated a total of €9.1 billion gross premium globally.

 

For more information, visit www.agcs.allianz.com or follow us on Twitter @AGCS_Insurance and LinkedIn.

 

 


Nearest Major Market: Chicago