Senior Financial Accountant

1 month ago

Toronto, Ontario, Canada Swiss Re Full time

About the Role

Do you want to be part of an international company that is making a difference in the world? Are you an accounting professional with experience working in the P&C reinsurance field?

The successful candidate in this role will assume responsibility for assigned tasks within the end-to-end Financial Accounting & Reporting and capital management processes, collaborating with a Finance and Actuarial teams in Toronto, Zurich, Bratislava and India. You will report directly to the Head Reporting for P&C, and will have direct interaction with the Canadian CFO, as well as with other business leads. Your duties will be performed in compliance with local / Group requirements and the internal control framework.

You will be accountable for the accurate and timely technical and non-technical reporting, review and analysis of the Branch, including both inbound and ceded business. You will also be reviewing and analyzing actual results compared with expectations and prior periods. The role is expected to work closely with other functions (P&C Actuarial Management, Claims, Client managers, Underwriting, Operations) and will also be involved in regular and ad hoc capital planning, including updating of capital forecasts on a quarterly basis for the Branch. There will be opportunities to contribute to key projects within the Reinsurance environment, including new transactions and/or new or amended reinsurance arrangements.

Specific responsibilities will include:

  • Developing and maintaining financial analysis and reporting processes and tools, including any related intercompany reinsurance.
  • Analyzing and providing explanations for the Branch's financial results for Canadian statutory/IFRS and Swiss statutory bases, including investigation of unusual variances and obtaining appropriate analytical support. The analysis includes both inward business and intra-group retrocession business.
  • Performing automation and streamlining of processes to improve efficiency. You will need to be creative, decisive and challenge processes, procedures, and controls to improve the efficiency and effectiveness of the Finance team.
  • Ownership of internal and regulatory capital submissions; quarterly or annual filings with regulator OSFI and other external partners – industry associations.
  • Ensuring that all reporting requirements are met in accordance with Group and regulatory requirements. As the industry moves to new IFRS accounting standards (in 2023 for Canada local reporting; and 2024 Swiss Re Group reporting), this responsibility continues to involve significant learning opportunities and challenges.
  • Working with other functions as well as with Finance colleagues in Canada, Zurich, Bratislava, and India to resolve accounting and administration issues.
  • Reviewing the technical (cashflows/IFRS17 financials) and non-technical (investment/expenses/cash) reconciliations/analysis performed by Central teams.
  • Review/update control self-assessments, respond to external audit and CRA audit inquiries.

About the Team

The Finance Reinsurance team, within the overall Canadian Finance team, are responsible for accounting and reporting of Property and Casualty (P&C) reinsurance technical balances (premiums, claims, commissions, reserves, together with intra-group reinsurance – "IGR" - thereon), and non-technical balances (e.g., cash investments, general expenses) for Swiss Reinsurance Corporation, P&C Canadian Branch (the "Branch"). The team works with various business partners in support of relevant transactions. You will be joining a diverse and inclusive team of finance professionals that come from a variety of backgrounds and experience within the industry. The team works well in a collaborative environment while fostering and developing independent thought.

About You

  • Bachelor's degree or equivalent experience in an Accounting/Finance related discipline; or 3-5 years related experience, in a reinsurance/ insurance environment (preferable) or other complex industry.
  • CPA, or equivalent (current or in the near future)
  • Strong learning skills, detail oriented, analytical skills, and decision-making skills.
  • Knowledge of insurance products, preferable in the Property & casualty reinsurance space. Exposure to capital reporting, as well as knowledge of reinsurance contracts would also be an asset.
  • Strong technical computer skills, including Word, Excel (Pivot tables, macros), Power Point, and business objects.
  • Proven organizational and time management skills; ability to handle multiple priorities.
  • Proven interpersonal skills, including working internally across departments.
  • Effective written and oral communication skills.

About Swiss Re

Swiss Re is one of the world's leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. We anticipate and manage a wide variety of risks, from natural catastrophes and climate change to cybercrime. We cover both Property & Casualty and Life & Health. Combining experience with creative thinking and cutting-edge expertise, we create new opportunities and solutions for our clients. This is possible thanks to the collaboration of more than 14,000 employees across the world.

Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. We embrace a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. In our inclusive and flexible environment everyone can bring their authentic selves to work and their passion for sustainability.

Swiss Re is an equal opportunity employer. It is our practice to recruit, hire and promote without regard to race, religion, color, national origin, sex, disability, age, pregnancy, sexual orientations, marital status, military status, or any other characteristic protected by law. Decisions on employment are solely based on an individual's qualifications for the position being filled.

During the recruitment process, reasonable accommodations for disabilities are available upon request. If contacted for an interview, please inform the Recruiter/HR Professional of the accommodation needed.

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Reference Code: 129257



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