About the Position
Reporting directly to the VP, Controller – Australia. The Financial Accountant role is based in the Australia, Sydney office. This role is responsible for supporting certain aspects of the financial accounting, internal controls, budgeting, and financial reporting for the company. In this role, you will have the opportunity to develop specific skillsets, exposure into operations to deepen your understanding of the business and involvement in projects to enhance the efficiency and effectiveness of reporting requirements in an increasingly complex environment. The role will work closely the wider Finance team and the other business functions to value add the relevant business areas.
Key Responsibilities
Reinsurance Accounting
Assist with all aspects of monthly and quarterly reinsurance premiums and claims reporting from internal business unit, level reporting and legal entity review to external SEC, GAAP, and local Australia regulatory reporting.
Assist with maintaining an appropriate S.O.X 404 control environment for the booking of premiums, claims and related transactions in both reinsurance accounting systems and general ledger. Ensuring timely monthly and quarterly close of reinsurance systems.
Perform accounting reviews and analysis of reinsurance contracts to ensure appropriate GAAP accounting treatment.
Assist with technical analysis of contracts and other FASB and SEC research.
Perform detailed analysis and monthly/quarterly reconciliation of assumed/ceded premiums and claims to ensure a thorough understanding of reported results, troubleshooting any issue through to a successful conclusion.
Participate in on-going refinement/improvement of business processes, analytical tools and reinsurance accounting platform ensuring the Australia team needs are met.
Financial Accounting
Complete for all aspects of monthly and quarterly consolidation and close processes.
Ensure appropriate S.O.X 404 processes exist and followed for preparation and submission of financial data.
Support the continued enhancement of and on-going development of various financial systems.
Support the preparation of detailed analysis, journal entry bookings and monthly/quarterly reconciliation to the general ledger, including bank and intercompany reconciliation.
Assist in the management of monthly general ledger entries.
Assist with the preparation of budgets and other financial plans for management information and group reporting.
Assist with annual GAAP and Statutory financial statements.
Liaise with internal and external auditors and vendors.
Strategic Projects
Involvement in ad-hoc accounting projects and support the global Finance team as needed.
Candidate Qualifications
Degree is essential with emphasis on business, finance, and accounting.
Professional accounting designation preferable (i.e., CA, ACA, CPA)
Candidate Experiences
Minimum 3 years of Big Four external audit experience or equivalent and 2 years’ post-qualification experience. Experience working with General Insurance organizations as an auditor or internal accountant is preferred.
Knowledge of generally accepted accounting principles (GAAP), and an understanding of GAAP for reinsurance transactions is preferred.
Experience with public companies, S.O.X 404 and FRS117 Insurance is advantageous.
Experience with Microsoft D365 and SICS reinsurance accounting systems is preferred.
Our people are our most valuable resource and core to our success. This is a fast-paced business environment, demanding a strong work ethic and a results-oriented approach. We offer competitive compensation and benefits, a comprehensive talent development program, and a reward system in which employees share in the success of the company. We are an engaged member of the communities in which we live and work and have a locally-led giving philosophy with generous employee matching program, global and local community grants and employee volunteerism.We seek diversity, create equity, and practice inclusion. Our people are at the heart of everything we do. We are an equal opportunity employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, national origin, sex, sexual orientation, gender identity, marital status, pregnancy, disability, military status or other legally protected categories.
Top Skills
What We Do
RenaissanceRe is one of the world’s leading reinsurance companies, consistently recognised for our innovation, technical excellence and creative problem-solving.
Our clients are multi-national organizations and government entities who turn to us to help manage the risks of operating in a volatile and uncertain world, including climate change, natural hazards like wildfires and hurricanes, cyber threats and significant societal upheaval.
We’re proud of our world-class reputation for exceptional performance and being a trusted partner, there for our clients when it matters most. Our corporate purpose is to protect communities and enable prosperity. When disaster strikes, the claims we pay help keep businesses open and communities rebuild.
Ensuring that our technology ecosystem can anticipate and respond to unprecedented global change in the world order is an imperative. It is only through continuously seeking to innovate through transformative technology that we can deliver our strategic business priorities, aims, and objectives.
RenaissanceRe’s name comes from our founders’ intention to create a renaissance in quantifying and managing risk. Our success depends on the unique way we combine information, experience and technology to empower our decisions. We have developed new and cutting-edge technologies since the day we started in 1993 and have long been recognized as pioneers and technical innovators; designing and engineering solutions to rapidly serve clients and help them dynamically manage their business
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