Director Financial Accounting - Claims & IBNP Reserve

Job Summary

The responsibilities encompass overseeing the claims, suspense, and IBNP calculation, preparation, and recording of quarterly journal entries, reviewing reconciliations, conducting in-depth analytics, and providing comprehensive reports and presentation to senior leadership. You will also manage the relationship and deliverables associated with the financial close as an Administrator for a Third Party.

Key duties and responsibilities

• Present quarterly results and insights to senior leadership and other stakeholders in a clear and effective manner.
• Lead a team, identifying and developing key talent within the team and providing suitable opportunities for growth of team members.
• Manage the day-to-day activities of the Claims & IBNP Reserve Team, providing guidance and support.
• Oversee the quarter-end financial close process, including reviewing calculation, trend analysis, financial statement account reconciliations, and journal entries prepared by other team members. 
• Build and nurture a strong relationship with our TPA client, serving as the primary point of contract, and ensuring a seamless TPA quarterly close.
• Analyze quarterly results, identifying variances to expectations, prior periods, and budgeted amounts, and making recommendations for adjustments or enhancements as necessary.
• Manage and assess Incurred But Not Paid (IBNP) reserves, and work closely with cross-function teams to ensure the accuracy and compliance with the IBNP methodology.
• Implement and enhance IBNP forecasting models to support financial planning and decision-making.
• Conduct regular reviews of IBNP reserve adequacy and recommend adjustments as needed.
• Develop and maintain documentation outlining process methodologies, assumptions, and procedures.
• Establish and maintain effective internal controls to safeguard financial process and data integrity.
• Coordinate with internal and external auditors, providing necessary documentation and support during audits. 
• Collaborate with cross-functional departments such as Operations, FP&A, Actuaries, and Financial Reporting to facilitate a smooth and accurate financial close.
• Identify opportunities for process optimization and implement improvements to enhance the efficiency and effectiveness of the financial close process.

Required experience & competencies

• 8+ years of accounting experience, preferably within the insurance or financial service industries.
• CPA or equivalent combination of education & experience, preferred.
• Advanced technical skills in accounting, reserves, financial forecasts, and risk management.
• Ability to see the big picture, envision long-term goals for the team, and formulate strategic plans that align with the Finance organization objectives.
• Exceptional presentation skills in conveying complex information and strategic insights to senior management in an accessible and understandable manner.
• Strong organization, analytical and problem-solving skills.
• Ability to achieve results by taking a proactive long-term view of business goals and objectives.
• Strong attention to detail with ability to work effectively in fast paced environment and manage multiple priorities and deadlines.
• Ability to work cooperatively and collaboratively with individuals at all levels within the Company to maximize performance, creativity, problem solving, and results.
• Ability to exercise professional judgement and assume responsibility for decisions which have an impact on people and quality of work product.
• Excellent computer skills including Microsoft Office Suite and other business-related software systems.
• Ability and willingness to work additional hours to meet challenging deadlines even in areas beyond direct responsibility.     
• Demonstrated leadership skills and ability to motivate & develop staff.
• Experience mentoring and developing talent within the team
• Insurance and/or reinsurance accounting experience and education, preferred.

Required Education 

• Bachelor’s Degree, preferably in Accounting or Finance
• CPA or equivalent combination of education & experience, preferred

SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Leveraging experience and expertise to deliver “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – from Life & Health and Property & Casualty insurance to Investments. Our specialized t