Sr. Accountant II - Reinsurance

Let’s care for tomorrow.

Your ambitions.  Your dreams.  Your tomorrow.

At Allianz Commercial (AzC), we are the global leader for insuring corporate and specialty risks in the Allianz Group.  Whether it’s aircraft, satellites, the world’s biggest ships and tallest building, cyber-attacks or climate change impacts, AzC has the major risks covered when it comes to protecting businesses.

 

 

We are looking for a Sr. Accountant II, who will be based in our Chicago office.

 

Your Team 

Allianz Commercial (AzC) is a leading global corporate insurance carrier. 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. The North America Distribution team supports large corporate business expansion across North America.

 

Worldwide, AzC Commercial operates with its own teams in more than 30 countries and through the Allianz Group network and partners in over 200 countries and territories, employing around 4,400 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2023, AzC generated a total of €18.0 billion gross premium globally.

 

The Impact You Will Have 

This person will have a key role in Reinsurance Accounting reporting that is very visible in the organization. It involves reporting of Reinsurance Assets for the main/largest Legal entity, Schedule F calculation and mitigation efforts/impact to  STAT surplus and capital management. The role also supports XOL contracts Premium and Claims side, has a lot of connection with Claims, Actuarial and Corporate Re team on the impacts of the Reinsurance on our F/S.

 

Some of your specific responsibilities could include: 

• Draft standards to improve quality as well as active contribution in improving and implementing global operation cycles, processes and workflows as well as the implementation of global policies and procedures.
• Archive records to satisfy audit and statutory requirements.
• Ensure that all IFRS, GAAP and Statutory closing and reporting tasks (e.g. annual report, reporting to regulatory authorities, NAIC reporting, other internal/external reporting requirements) related to own area of responsibility are accurate and timely on a global basis.
• Complete assigned postings, Journal Entries and Account reconciliations on a periodic basis. Reconcile and settle intercompany transactions within the affiliated company group.
• Coordination, transfer and reconciliation of data from interfaces of front-end systems.
• Take care of monthly legal entity close submission activities, including posting of accruals, deferred acquisition expenses and other accounting transactions.
• Manage relationship with 3rd parties (auditors, biz units, tax authorities, public authorities, etc.)
• Assist internal clients (e.g. other departments) with reports, research and other activities.
• Manage relationship with 3rd parties (auditors, business units, tax authorities, public authorities, etc.)
• Identify problems and opportunities for improvements; propose creative solutions that improve qualitative and quantitative performance.                                                                  

 

What You’ll Bring to the Role

• 5-7 years experience in reinsurance, P&C insurance and / or asset management.                               
• 5-7 years experience in proven understanding of standard accounting (GAAP & IFRS) for insurance and reinsurance.
• 3-5 years experience in project and team work in an international and dynamic environment