This position is directly responsible for providing specific accounting needs of the Reinsurance Department, LAD Finance, Elgin Operational Accounting and the Claims Department. The needs will consist of various accounting projects related to specific goals and objectives of the reinsurance department, and it will require the position to gain an understanding of reinsurance, how reinsurance relates to the Company, and most importantly, the accounting behind reinsurance.
This position will be required to be hands-on, detail oriented and exhibit a certain level of critical thinking to perform their necessary job functions. In providing quality and accurate financial and system-related support, the position will use available tools such as SAP, Excel and Microsoft SQL. The incumbent is also required to understand the detail workings of the Company's general ledger and administrative systems such as the TAI Reinsurance System, LifeComm Premium administrative system, Claims administrative systems and other associated files and databases.
It is expected that the incumbent will complete assigned work on an accurate and timely basis, as well as assist with issues from outside departments such as LAD Finance, Elgin Accounting, Brentwood Claims, Valuation Actuarial and Corporate Accounting. This position is also expected to assist with year-end statutory work related to Schedule S. In addition, the incumbent will be directly responsible for related management information and internal and external audit needs.
Perform multiple claim reconciliations each month to ensure the integrity of the general ledger and the accuracy of the claims administrative system.
Perform monthly reconciliations to ensure the accuracy of manual reinsurance claim activity.
Post monthly claim reserves for various entities within the company.
Assist with accounting and claim requirements related to acquisitions.
Assist with claim testing needs related to system conversions and modifications.
Assist with internal and external audit requirements as related to reinsurance claim activity.
Develop and maintain an in-depth understanding of the pending and recoverable claims process.
Assist with Statutory Schedule S work requirements for all assigned corporate insurance entities.
Indirect involvement with corporate conversion projects to ensure accuracy of data for ceded and assumed claims reporting and the relationship with Schedule S.
Other accounting and financial job duties as assigned.
Number of persons supervised: Exempt: N/A
Incumbent needs to develop and maintain a strong in-depth working knowledge of the Protective Claim systems, the TAI Reinsurance Systems, direct policyholder systems, the general ledger, and other peripheral reinsurance systems and processes, along with a thorough understanding of the interaction and balancing relationships between these systems.
This position requires high level critical thinking skills, a strong sense of urgency, a working knowledge of GAAP and Statutory reporting, general ledgers, accounting related systems & databases and operational accounting process flows. The position is expected to be at a level well beyond just reporting numbers and must be able to understand underlying business trends and profitability implications.
A Bachelor's Degree in accounting, finance or related field is required. A minimum of five or more years of applicable accounting and system-related experience is needed, preferably in the Life Insurance industry. A CPA and/or MBA designation or equivalent experience is preferred.
This position requires very strong organizational skills to go along with very strong accounting, Excel and system related abilities. The position will be expected to have the ability to learn new responsibilities and take ownership of these new responsibilities. The incumbent will also be expected to give critical technical and accounting support to the home office Reinsurance Department and the Brentwood Claims department. Excellent communication skills are needed as there will be frequent interaction with management, IT employees, LAD Finance and other departments such as Reinsurance, Claims, Elgin Operational Accounting, Corporate Accounting and Actuarial.
Protective Life Corporation