Senior Financial Accountant - Toronto, Canada - Swiss Re

Description

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 insurance, or with other complex industries?

The L&H Finance Reporting team, within the overall Canadian Finance function, is responsible for all internal and external accounting and reporting aspects of Swiss Re's Life and Health (L&H) reinsurance business in Canada, including 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 Company, Canadian Life Branch (the "Branch"). The Finance team are focus on optimizing our processes and analysis following the adoption of the new IFRS17 accounting standard for Insurance contracts and IFRS9 accounting standard for Financial Instruments at the beginning of 2023. The Finance team also reports internally on Swiss Statutory bases of valuation.

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 both in Toronto and in Bangalore, India. You will report directly to the Head Reporting for L&H, 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 Swiss Re's 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 will also be responsible for regular and ad hoc capital planning and updating of capital forecasts on a quarterly basis for the Branch, as well as for the onboarding of new transactions and/or new or amended reinsurance arrangements. There will be opportunities to contribute to key projects within the Reinsurance environment.

Specific responsibilities will include:

• Developing and maintaining financial analysis and reporting processes and tools, including any related intercompany reinsurance.
• Analyzing and providing explanations for financial results for Canadian Statutory/IFRS and Swiss Statutory bases, including the investigation of unusual variances and obtaining appropriate analytical support. The analysis includes both inward business and intro-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.
• Ensuring that all reporting requirements are met in accordance with Group and local regulatory requirements. As the industry moves to new IFRS accounting standards (in 2023 for local reporting; and 2024 for Group reporting), this responsibility continues to involve significant learning opportunities and challenges.
• Ownership of internal and regulatory capital submissions; engagement with the L&H Actuarial experts on the annual capital plan and quarterly capital projections, as well as the management of collateral arrangements.
• Working with other functions (e.g., Claims management, L&H Actuarial Management, Technical Accounting, Central A&R) to resolve accounting and administration issues.
• Reviewing and enhancing the claims report prepared by the offshore team and performing claims experience analysis to support the early insight analysis.
• Reviewing investment reconciliations performed by offshore team and investment reporting team, to ensure accurate reporting of investment results and balances.
• Ad hoc operational tasks
• Quarterly or annual filings with other external partners – industry associations, premium tax filings, surveys.
• Review/update Control self-assessments, respond to external audit and CRA audit inquiries.

About the Team

Reporting into the Finance Manager, L&H Reinsurance Reporting, this role will be a part of Swiss Re's Finance team in Canada, with colleagues in both Canada and Bangalore. The team is responsible for accurate reporting and timely analysis of the business results of the Swiss Reinsurance Company, Canadian Life Branch. The team also 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 (preferred), or with other complex industries.
• 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 Life & Health Insurance 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), Power Point, and Business Objects.
• Proven business sense with ability to offer solutions to streamlining and improving processes.
• Some experience in i) changes to accounting standards; and ii) systems conversions would be an asset
• Proven organizational and time management skills; ability to handle multiple priorities.
• Proven written, oral, and 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.

Keywords: Financial Accountant, Senior Financial Accountant, Financial Analyst
Reference Code: 128148