Reinsurance Accounting Manager; Hybrid in Worcester, MA)

Position: Reinsurance Accounting Manager (Hybrid in Worcester, MA)
Job  :
Worcester, MA, USAPay: USD 105000 - 140000 (Salary)
Posted:
Job Family:
Finance - Accounting Job Function:
Finance

Pay Type:

Salary For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, Sustainability initiatives and inclusive corporate culture . Our Finance team is currently seeking a Reinsurance Accounting Manager in our Worcester, MA location. Position is eligible for Hybrid/Flex work arrangement.

This is a full-time, exempt role.

POSITION OVERVIEW:

Responsible for managing all day-to-day reinsurance accounting team functions, internal controls and quality assurance processes, and monthly/quarterly/annual internal and external GAAP/SEC and statutory reinsurance reporting. This role oversees accurate and timely preparation, review, and analysis of financial information, regulatory filings, internal controls, and disclosures while ensuring compliance with NAIC, SEC, SOX, and company accounting policies. Requires expertise in using the reinsurance accounting system (Reinsurance Pro) and ensuring all team members are proficient as well.

Requires strong team building skills including the ability to effectively recruit, train, motivate, retain and development talent. Responsible for continuous review and improvement of accounting processes, effectively leveraging modern technologies, managing unanticipated situations and problem solving. Requires significant collaboration and communication with management and staff throughout the company, including reinsurance operations/billing, information technology operations and business analysts, P&C and consolidated reporting, Hanover Programs accounting, finance, actuarial, HR, and internal and external auditors.

IN THIS ROLE, YOU WILL:
Responsibilities / Essential Functions Core Accounting & Reporting Serve as subject matter expert and point person for all reinsurance accounting, systems and reporting matters. This individual must be able to analyze, review and evaluate financial statement data flows and relevant key controls and to solve issues and any significant variances when they emerge. This includes being able to obtain a strong understanding and full view of the critical financial reporting data path: from front-end inputs, through system-to-system feeds, to back-end conversion to automated and manual journal entries, and to the final reporting deliverables.

Manage day-to-day accounting operations, internal controls, and quality assurance activities, including routine and non-routine reporting deliverables as well as ad-hoc projects. Oversee monthly, quarterly, and annual close processes and ensure timely reporting deliverables. Review and approve complex journal entries, reconciliations, and supporting work papers. Prepare, review and analyze financial results, investigate variances, and resolve reporting issues. Insurance-Specific Accounting Oversee accounting and reporting activities supporting SAP, GAAP, and SEC requirements, as applicable.

Support NAIC reporting, regulatory filings, and insurance industry financial reporting requirements, as applicable. Serve as subject matter expert for insurance accounting transactions, related systems, and reporting matters. Financial Reporting & Compliance Ensure compliance with SOX, SEC, NAIC, SAP, GAAP, and company policies, as applicable. Partner with internal and external auditors during audits and regulatory examinations. Research, document, and implement new accounting guidance and reporting requirements.

Maintain and enhance internal control documentation and testing activities. Process Improvement & Technology Lead process improvement and automation initiatives driven by strong understanding of end-to-end financial statement data flows, systems and financial reporting outputs. Experience working with enterprise general ledger systems, such as People Soft General Ledger, Oracle Financials, or equivalent ERP platforms, as well as other financial reporting tools, including Hyperion Essbase, Power BI, or similar tools.

Identify technology opportunities and develop accounting/reporting solutions. Leadership, Collaboration & Business Partnership Lead, mentor, develop, and evaluate accounting staff. Establish team priorities, allocate resources, and monitor performance. Collaborate with operations, IT, actuarial, finance, HR, and management teams. Involves others to leverage…