Junior Accountant

Company



Munich Re America



Location



Princeton
, United States

Junior Accountant

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Munich Re Specialty - North America provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients' needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.

Munich Re Specialty - North America is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on Munich Re Specialty - North America, including licensing, regulatory-required, and other information on the operating companies, visit Munich Re Specialty - North America Disclosures

The Opportunity

Future focused and always one step ahead!

The Junior Accountant provides financial support and assistance to the organization by managing external banking relationships, keeping detailed transactional records of all payment activity, analyzing and reporting cash requirement concerns to management and ensuring that all banking transactions are in compliance with company and carrier policies and procedures.

Responsibilities

• Retrieve daily bank activity and prepare bank reconciliations for all bank accounts, includes ten (10) TPA loss fund accounts and two (2) operational accounts
• Review all TPA cleared checks on bank website for proper endorsements and communicate with TPAs in cases where endorsements are questionable.
• Review daily positive pay reports from bank and verify legitimacy of any questionable payments.
• Review TPA provided check registers and void / stop payment requests and process information into bank reconciliations.
• Prepare information from TPA check register and void / stop payment requests into PDF files and submit these files to the bank.
• Process all vendor invoices and generate check payments through QuickBooks.
• Prepare CSV files for vendor payments and submit to bank.
• Post vendor invoices and payments into Exchequer.
• Prepare weekly and month end analysis of loss fund account balances and usage and report information to Binding Authority Management.
• Review and reconcile monthly insurance program payments received by Binding Authority.
• Prepare monthly invoices for Management Charges and other miscellaneous costs for reimbursement
• Process monthly wire transfers as needed.
• Process monthly journal entries for all TPA loss fund accounts with the bank and post entries into Exchequer.
• Process monthly journal entries for all operational account activity with the bank and post entries into Exchequer.
• Prepare month end bank reconciliations for bank accounts and submit to TPA's.
• Prepare month end bank reconciliations for the bank operational accounts.
• Allocate account receivable payments as received.

• Assist with reviewing and resolving any variances between TPA loss fund accounts and finalized bordereau
• Process all month end bank reconciliations on Exchequer after posting and month end is completed.
• Review TPA outstanding checks quarterly and assist TPA with processing voids for stale checks.
• Assist with preparation of 1099 / 1096 tax forms.
• Assorted other accounting duties as is required and as skill set develops.

Qualifications

• Bachelor's degree or equivalent in accounting.3+ years of experience in an accounting role
• Proficient in all Microsoft Office programs.
• Ability to work with various computer software programs.
• Strong organizational and office/customer/vendor interaction skills
• Independent self-starter

The Company is open to considering candidates in numerous locations, including Chicago. The salary range posted below applies to the Company's Chicago location.

The base salary range anticipated for this position is $51,200 - $70,400 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate displayed represents the typical salary range for candidates hired in this position in Chicago. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.