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Assistant Controller

Company: Mitsui Sumitomo Insurance Group
Location: Warren
Posted on: May 21, 2023

Job Description:

Company Overview:MSIG North America is a wholly owned subsidiary of the MS & AD Insurance Group Holdings, Inc. - one of the top ten property-casualty insurance groups world-wide. Our Group has capital in excess of $25 Billion, operations in more than 40 countries and nearly 40,000 personnel located globally.Position Overview:Assists in the financial reporting and analysis of Statutory and GAAP financial statements for MSIGH companies as well as IFRS reporting to parent company. Develops and maintains financial reporting controls, including appropriate documentation. Responsible for managing the Investment Accounting department. Assists in the development and maintenance of financial reporting controls including appropriate documentation. Assists in the assessment of new products, processes and systems and assists in their implementation.Essential Duties and Responsibilities include the following. Other duties may be assigned. Hires, trains and manages staff involved in the Investment Accounting department. Responsible for maintaining the Clearwater relationship and vendor management. Manage investment reporting in General Ledger and Clearwater, including reviewing journal entries and investment reconciliations on a STAT and GAAP basis. Directs preparation of the Investment Committee Meeting material, attends Investment Committee Meetings and prepares minutes of those meetings. Responsible for the calculation and payment of investment manager fees. Assists the Finance Department as necessary. Assists financial statement preparation on a Statutory basis for insurance companies and regulatory reporting in 50 states and with the NAIC. Assists in review of financial statements, analytical reports, reconciliations and checklists to assure fair and complete presentation of financials. Keeps current with all regulatory changes, and assesses impact on financials. Assists quarterly financial statement preparation on a GAAP and IFRS basis for all MSIGH companies. Assists in analyzing individual company and consolidated results prior to CFO review. Assists in coordination of activities in support of reporting consolidated financial results to Tokyo Head Office. Reviews and documents the control environment with the Controller and directs the development and maintenance of financial reporting controls. Ensures appropriate documentation is current for all key functions in the Finance Department. Assists Controller in planning and conducting the Financial Division's self-audits. Has contact with external auditors, actuaries, insurance examiners and tax authorities. Assists in coordination of external audits and ensures that timely responses are provided to all requests. Assists in negotiation of findings and remediation of any unresolved issues. Brings issues of importance to Senior Management. Special projects as necessary. This may include and not be limited to implementation of a new general ledger and subsidiary ledger system and refinement of the existing systems in the department. It may also include development around data for reporting as well as implementing a new work paper file system. Assists with centralizing the accounting function in the U.S. by building out processes for other U.S. affiliates. This also includes building out processes and related accounting policies for future acquisitions.Supervisory Responsibilities:Manages 3 employees in the Accounting Department. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.Education and/or Experience Bachelor's Degree in Accounting is required CPA Required 3 years of public accounting experience required Minimum of 8 years related experience. Minimum of 5 years of experience in a property/casualty insurance industry environment is required as well as 5 years in a supervisory role.The Company is an Equal Opportunity / Affirmative Action employer, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status.Job Type: Full-timePay: $56,389.21 - $134,144.38 per yearBenefits: 401(k) 401(k) matching Dental insurance Employee assistance program Flexible schedule Flexible spending account Health insurance Life insurance Paid time off Tuition reimbursement Vision insuranceSchedule: 8 hour shiftWork Location: In person

Keywords: Mitsui Sumitomo Insurance Group, Elizabeth , Assistant Controller, Accounting, Auditing , Warren, New Jersey

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