Director, Reinsurance Accounting

at Lincoln Financial Group in Springfield, Illinois, United States

Job Description

Alternate Locations: Work from Home; Fort Wayne, IN (Indiana); Greensboro, NC (North Carolina); Omaha, NE (Nebraska); Radnor, PA (Pennsylvania)

Work Arrangement:

Remote : Work at home employee residing outside of a commutable distance to an office location.

Relocation assistance: is not available for this opportunity.

Requisition #: 73224

The Role at a Glance

As the Director of Reinsurance, you will manage staff, help lead the onboarding of new strategic reinsurance transactions and administration of existing reinsurance. This is a position that is not simply accounting oriented- while your accounting expertise will be utilized your strategic knowledge of structuring reinsurance transactions and evaluation of risk transfer and how it applies to new transactions on both a GAAP and Statutory basis will be paramount. Strategic reinsurance transactions involve accounting and administration complexities to be analyzed on a case by case basis as each transaction evolves. This role will require working with various business areas and key stakeholders to evaluate the structure of reinsurance transactions to identify and communicate accounting issues, propose accounting resolutions, and communicate status to accounting stakeholders. In this position you will collaborate within the Chief Accounting Office to provide clarity, on a GAAP and STAT basis and the reporting of new and existing reinsurance transactions, overseeing onshore and offshore affiliate captive reinsurance. Support the monthly and/or quarterly close process and reinsurance GAAP and Statutory financial reporting requirements. Lincoln is currently looking for an experienced Senior Reinsurance Accountant to help them achieve this, by leveraging your 5+ years experience in reinsurance accounting you will help Lincoln strategically reach their capital goals and attain a goal of profitable growth.

General Purpose of Job

This position will provide leadership and direction to ensure group results for their assigned Reinsurance accounting area(s) of responsibility. They will direct the preparation, recording, analysis, and reporting of complex Reinsurance accounting transactions and ensure the integrity of accounting records for completeness, accuracy and compliance with accepted accounting policies and principles. Part of this strategy also entails strategic reinsurance deals, and as they move to the future, these transactions will help us add tremendous value and reinforce a long-term commitment as stewards of Lincoln’s capital.

What you’ll be doing

- Evaluate reinsurance transactions, their structure and financial accounting implications of these transactions.

- You will also draw on your years of experience in identifying and recommending best practice opportunities to improve efficiencies as new reinsurance processes are established.

- The Life Insurance industry is leveraging Reinsurance more and more- you will be adding to your skill set while being exposed to the latest deals in Reinsurance in the Life Insurance industry.

- Ability to read reinsurance treaty agreements and apply concepts in the agreements to the appropriate accounting and administrative approach.

- Research accounting guidance and apply appropriate accounting guidance to complex reinsurance transactions and structures.

- Understand, evaluate, and conclude on risk transfer as it applies to new transactions on both a GAAP and Statutory basis.

- Collaborate on proforma financial statements for new and/or amended reinsurance accounting transactions.

- Review and analyze proforma financial statements to determine impacts of the transactions to the enterprise and ensure proforma financial statement reporting is accurate.

- Explain the financial statement impacts of the reinsurance transaction to key stakeholders and leaders.

- Evaluate treaty administrative implications of reinsurance structures to ensure the Reinsurance Accounting team can support ongoing administrative requirements.

- Responsible for Reinsurance reporting, internal and external, on new and current reinsurance transactions.

- Support a timely and accurate monthly and quarterly financial close process.

- Understand the relationship of applicable systems and data required to account for and support administration of new transactions as applicable.

- Develop control processes to ensure effective procedures are in place to support internal operating and SOX controls as new transactions are established.

- Identify and recommend best practice opportunities to improve efficiencies as new reinsurance processes are established.

- Provide training and development opportunities, including stretch assignments, for team members and give honest and open feedback to aid in the development of talent.

- Establish and implement individual and team priorities, performance goals and objectives .

- Manage and evaluate individual/team performance and take appropriate action to meet and/or exceed performance standards.

- Ensure that top talent is hired and retained to support these responsibilities.

- Develop and maintain a strong relationship with internal/external auditors as applicable and ensure identified issues are resolved in a collaborative manner.

- Carries out duties in compliance with all state and federal regulations and guidelines. Complies with all company and site policies and procedures.

- Performs other duties as required.

What we’re looking for

- 5+ Years of experience years in Reinsurance accounting that directly aligns with the specific responsibilities for this position, including 3+ years of managerial, supervisory, and/or demonstrated leadership experience

- 4 Year/Bachelor’s degree

- CPA Certification A plus- Demonstrated ability to successfully hire, retain, develop and coach staff via a culture of real-time performance feedback, with ability to build both technical and leadership skills.

- Demonstrated strong relationship management skills with internal clients (e.g. senior management, peers and colleagues); proven ability to develop creative and collaborative approaches.

- Finds common ground and can gain collaboration among senior management, colleagues and peers; can influence outcomes without directing or commanding.

- Demonstrated ability to identify and recommend processes improvements.

- Demonstrates strong project management leadership skills including, critical ability to coordinate and balance multiple projects in a time-sensitive environment, under pressure, and meeting deadlines.

- Proficiency with Microsoft Office Suite (Word, Excel, PowerPoint, Outlook).

What’s it like to work here?

At Lincoln Financial Group, we love what we do. We make meaningful contributions each and every day to empower our customers to take charge of their lives. Working alongside dedicated and talented colleagues, we build fulfilling careers and stronger communities through a company that values our unique perspectives, insights and contributions and invests in programs that empower each of us to take charge of our own future.

What’s in it for you:

+ Clearly defined career tracks and levels to help you successfully manage your career

+ Leadership development and virtual training opportunities

+ PTO/parental leave

+ Competitive 401K and employee benefits (https://hrdirectdocs.lfg.com/misc/HR/Recruiting/BenefitsResourcesGuide.pdf)

+ Free financial counseling, health coaching and employee assistance program

+ Tuition assistance program

+ A leadership team that prioritizes your health and well-being; offering a remote work environment and flexible work hybrid situations

+ Effective productivity/technology tools and training

Pay Range: $90,300 – $164,700

Actual base pay could va