Risk Management Senior Accountant

JOB SUMMARY

 

The Senior Accountant has primary responsibility over the day-to-day accounting activities relating to the global casualty insurance programs, which provides workers’ compensation, general and auto liability, employment practices liability, umbrella/excess, fidelity and fiduciary coverage to program participants. This position will monitor premium and deductible allocations and accounting for casualty insurance program costs of approximately $220 million annually, as well as develop knowledge and skills in financial aspects of Risk Management to support team, departmental and enterprise-wide business objectives.  This position will also support the monthly, quarterly and annual P&L analysis and financial reporting.

 

EXPECTED CONTRIBUTIONS

 

Primary responsibilities include:

• Oversee the global casualty insurance premium MIGL allocations and other insurance charges made to operating units, ensuring that the allocations run timely and accurately. Perform a monthly analysis on premiums charged and research any discrepancies. Create, update and delete allocation parameters as needed.

Manage the RisKonnect parameter process including the chargeback mechanism, updating parameters for escrowed properties and updating parameters for contract changes and exits. Coordinate with Marriott systems team and third party system vendor as needed.  On an annual basis, roll forward the parameters to reflect the new policy year.

• Calculate and process the quarterly Federal Excise Tax return.  Coordinate and work closely with the Tax department and the IRS on quarterly bill payments.
• Calculate the monthly insurance cost amortization.
• Partner with third party actuarial service provider in order to prepare the quarterly balance sheet reserve journal entries. Perform reconciliation between actuarial report and data provided to the actuaries in order to ensure completeness and accuracy of data used by the actuary. Provide claim data to third party actuaries on a monthly basis which they use for the quarterly actuarial reports.
• Prepare, analyze and present monthly P&L review to Risk Finance team.  Communicate with team members on necessary variance explanations as needed. 
• Assist in preparation of quarterly cash flow deliverable to Financial Reporting team.  Attend quarterly meetings with Financial Reporting.
• Prepare quarterly balance sheet statement for Risk Management’s insurance programs in support of audit controls.
• Calculate and maintain escrow reserves for properties that have exited the Marriott insurance program.  Coordinate with business partners during escrow finalization so they can facilitate return to owners.
• Update annual program rates for Risk Managements’ programs and services within the Marriott’s annually issued budget guidelines ensuring rates comply with business objectives and allocations align with approved methodologies.
• Analyze current premium rates in order to set rates for next year.
• Create, maintain and present to the insurance team PowerBI analysis analyzing monthly chargebacks and premiums in order to assist the insurance team in making business decisions.
• Clear monthly suspense for the ALQ, ACR and B21 allocations. Research root cause of suspense and communicate with hotels and business partners in order to address the suspense issue going forward.
• Provide accounting support and coordinate monthly and quarterly accounting journal entries.
• Prepare relevant PBC’s and respond to related audit questions as necessary to support the internal and external audit processes.
• Partner with Insurance, Claims, iT and other departments to provide support for specific requests, reports, and projects.
• Maintain a strong internal control environment and ensure all accounts are reconciled timely and accurately.
• Responding to corporate and operations questions and documentation needs.
• Coordinate, prepare, and review complex special projects, and analyses as requested by management. 
• Demonstrate an awareness of personal strengths and areas for improvement and act independently to improve and increase skills and knowledge.
• Leverage technology to seek best practice solutions.
• Responsible for own work while managing team, department, and company objectives.
• Develop and review documentation of current accounting policies and procedures and initiate possible updates or improvements.

 

CANDIDATE PROFILE

 

Experience

• Minimum of 4 years of progressive job experience in accounting/finance field.

Education or Certification 

• Baccalaureate degree in Accounting, Finance or related discipline required