Reinsurance Accounting Manager (Hybrid in Worcester, MA)

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 (ReinsurancePro) 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 workpapers.
• 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 PeopleSoft 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 additional knowledge or skills that lead to increased understanding. Obtains shared commitment to the improvement or success of an event or project.
• Communicate complex accounting matters and recommendations to senior leadership building support, agreement and commitment.

WHAT YOU NEED TO APPLY:

Required Experience & Qualifications

• Minimum 5-8 years of progressive accounting and financial reporting experience.
• Insurance accounting, public accounting, or a combination thereof preferred.
• Bachelor's degree in Accounting or Finance required.
• CPA, MBA, or Master's degree in Accounting strongly preferred.
• Experience with SAP, NAIC, GAAP, SEC, and statutory accounting principles strongly preferred.
• Experience with financial reporting and ERP systems including PeopleSoft, Oracle, SAP, Essbase, Hyperion, Power BI, or similar tools.
• Ability to work independently, manage multiple priorities, and meet deadlines.

Leadership & Talent Development

• Builds high-performing teams through coaching, mentoring, and development while fostering a culture of technical excellence.
• Effectively recruits, retains, and develops talent.
• Promotes accountability, collaboration, and continuous improvement.

Learning Agility & Digital Mindset

• Demonstrates curiosity and adaptability in a rapidly evolving finance environment
• Continuously developing technical accounting, analytical, and digital skills

Analytical Thinking & Business Insight

• Analyzes complex financial data and reporting processes.
• Identifies issues, evaluates alternatives, and develops practical solutions.
• Connects accounting outcomes to business performance and risk management.

Collaboration & Influencing

• Build strong partnerships across departments and stakeholders.
• Communicates effectively and gains commitment to initiatives and decisions.

Initiative & Continuous Improvement

• Proactively identifies risks, opportunities, and process enhancements.
• Drives automation, efficiency, and reporting improvements.

This job posting provides cursory examples of some of the job duties associated with this position.  The examples provided are not complete, and the position may entail other essential and job-related functions and responsibilities that employees will be required to perform. 

CAREER DEVELOPMENT:

It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop.

BENEFITS:

We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.

Benefits include:

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• Tuition reimbursement
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)
• Click here for the full list of Benefits

EEO statement:

The Hanover values diversity in the workplace and among our customers.  The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.  
Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.” 
As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities.  Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at:[email protected] and include the link of the job posting in which you are interested.

Privacy Policy:

To view our privacy policy and online privacy statement, click here.  

Applicants who are California residents: To see the types of information we may collect from applicants and employees and how we use it, please click here.

Compensation:

The target hiring range for this role may vary based on geographic location and other factors, including merit or performance, demonstrated proficiency, skills for the role, education, travel requirements, and experience. Additional compensation may include an annual bonus (which could take the form of a general bonus, sales incentive, or short-term incentive), long-term incentive or spot recognition awards. The posted range reflects our ability to hire at different position titles and levels depending on background and experience.