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About the Role
The Accountant plays a key role in financial reporting, reinsurance accounting, and business analysis for Munich Re's North American entities. This position is responsible for ensuring the accurate and timely recording of reinsurance transactions, supporting financial close activities, preparing management reporting, and contributing to process improvement and automation initiatives. The successful candidate will partner with a variety of stakeholders across Finance, Actuarial, Claims, Operations, and IT to deliver high-quality financial insights and operational excellence.
Responsibilities
- Lead the accounting and reporting of premiums, commissions, claims, and other reinsurance-related transactions.
- Perform financial reconciliations, investigate variances, and resolve reporting issues in a timely manner.
- Prepare complex profit commission calculations and reporting to support accurate client settlements.
- Maintain and enhance accounting controls to ensure compliance and operational effectiveness.
- Monitor key performance indicators, identify trends, and recommend process improvements.
- Design and implement accounting and reporting processes for new accounts and contracts.
- Maintain process documentation and support governance requirements.
- Collaborate with internal stakeholders and support internal and external audit activities.
- Prepare and deliver management reports and financial analyses that support business decision-making.
- Coordinate with teams across Pricing, Claims, Actuarial, Reinsurance Operations, and IT.
- Manage quarterly reporting processes, including premium estimates, claims estimates, and other client-related balances.
- Support financial forecasting, actual results reporting, and statutory reporting requirements.
- Perform ad hoc analysis and reporting to support business and finance initiatives.
- Participate in user acceptance testing for financial systems enhancements and upgrades.
- Support automation initiatives that improve financial and operational processes.
- Contribute to the implementation of new reporting, analytics, and financial tools.
- Identify opportunities to streamline workflows and enhance reporting efficiency.
Requirements
- Bachelor's degree in Accounting, Finance, Business, or a related field.
- 5+ years of accounting and financial reporting experience.
- Insurance or reinsurance industry experience is considered an asset.
- CPA designation or active pursuit toward obtaining one is required.
- Knowledge of IFRS 9 and IFRS 17.
- Strong analytical, reconciliation, and problem-solving skills.
- Advanced proficiency in Microsoft Excel and other Microsoft Office applications.
- Experience with Oracle Fusion, Power BI, and/or SQL is considered an asset.
- Pursuit or completion of insurance-related coursework is an asset.
- Proven ability to manage multiple priorities and meet deadlines in a fast-paced environment.
- Strong communication and relationship-building skills, with the ability to collaborate across cross-functional teams.
- Continuous improvement mindset with an interest in automation, process enhancement, and technology-driven solutions.
Skills
- Accounting
- Financial Reporting
- Reinsurance Accounting
- Business Analysis
- Financial Reconciliations
- Profit Commission Calculations
- Accounting Controls
- Key Performance Indicators (KPIs)
- Process Improvement
- Automation
- Management Reporting
- Financial Analysis
- Financial Forecasting
- Statutory Reporting
- Ad hoc Analysis
- User Acceptance Testing (UAT)
- Microsoft Excel
- Microsoft Office
- Oracle Fusion
- Power BI
- SQL
- Communication
- Relationship-building
- Collaboration
- Continuous Improvement
- Technology Solutions
Location
- Toronto
Work Type
- Hybrid
Experience Level
- 5+ years of accounting and financial reporting experience
Education Level
- Bachelor's degree in Accounting, Finance, Business, or a related field
- CPA designation or active pursuit toward obtaining one
- Pursuit or completion of insurance-related coursework
Salary/Compensations
- $85,000 - $95,000 per year
- Annual company bonus
Benefits
- An engaging and collaborative environment that promotes continuous learning and development
- A hybrid work environment that combines weekly in-office and remote days
- A great compensation package including annual company bonus
- Market leading company-paid flexible health and dental benefits, starting on your first day
- Flexible dollars provided by the company to put towards Health Spending Account and/or Wellness Spending Account
- Immediate participation in DC Pension Plan with an automatic employer contribution, plus optional company match
- Generous time off including vacation, personal days, unplanned time, Statutory Holidays and company-wide early closure half-days
- Learning and development programs and resources, including unlimited access to LinkedIn Learning, Education Assistance Program and reimbursement for professional fees
- Maternity, Parental & Adoption Leave top-up program
- Employee Referral Program, Recognition & Rewards Platform
About the Company
- Together, we engage with everything we have and are, to help humankind act braver and better.
- As the world’s leading reinsurance company with more than 40,000 employees in over 50 locations around the globe, Munich Re introduces a paradigm shift in the way you think about insurance.
- By turning uncertainty into manageable risk, we enable fundamental change.
- We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions.
- We dare to think big and are continuously innovating on behalf of our clients.
- Our data, our technology, and our teams place us in a unique position to drive transformative change in the life insurance industry.
- We invest strategically in our world class talent, offering our employees a work experience that promotes professional development, innovation, and rewards high performance.
Equal Opportunity
- We do not use AI in our recruitment process - applications are reviewed by our team to ensure a fair and personalized experience.
- Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.
- Munich Re is committed to providing a work environment that is inclusive and free of employment barriers and discrimination.
- Accommodations will be made for qualified applicants with a disability throughout the recruitment process.
- If you receive a request for an interview and you have a disability which will require an accommodation to support your participation, please contact AODARequestHR@munichre.ca as soon as practical so that suitable accommodations can be arranged.