HR332: Financial Accountant | Bermuda

FINANCIAL ACCOUNTANT – RE/INSURANCE – BERMUDA – 10% TAX – HR332

About this opportunity

Our client is an insurance company providing (re)insurance solutions to a specialized client base. They are seeking a motivated and detail-oriented Financial Accountant to join the Finance team and play a key role in supporting the Company’s financial reporting, accounting, investment administration, and financial operations.

Reporting to the Senior Financial Accountant, the Financial Accountant will support the Company’s general accounting and financial reporting functions. This role provides exposure to all aspects of the finance operation, including IFRS and statutory reporting, investment accounting, budgeting and forecasting, cash management, insurance accounting, and audit support. This is an excellent opportunity for an ambitious and motivated accounting professional looking to broaden their experience within the (re)insurance industry. The successful candidate will be a proactive self-starter who takes ownership of their work, communicates effectively with stakeholders, anticipates issues before they arise, and actively seeks opportunities to contribute to the team.

Key responsibilities

• Assisted in the day-to-day operations of the finance team and accounting function
• Maintained accounting records, including oversight of the processing and posting of all transactions, such as payments and receipts to the general ledger
• Assisted in the maintenance of the general ledger, investment accounting, and period-end close processes
• Assisted in the preparation of quarterly and annual budgets, forecasts, and variance analyses
• Built a comprehensive understanding of all expense accounts
• Provided support in the production of financial statements and reports, including IFRS, statutory, quarterly financial packages, and internal management accounts
• Monitored regulatory activity and provided regular updates to the finance team
• Prepared gross and ceded premium schedules, including the calculation of unearned premiums
• Prepared and posted all journal entries related to cash and investment management, including payments and receipts, accounts payable, investment transactions, expenses, foreign exchange, prepayments, and accruals
• Assisted with preparing quarterly reserve listings and finance schedules
• Monitored cash balances to ensure sufficient funds were available for expenses and claim payments
• Reconciled all cash and investment balances monthly and investigated discrepancies with investment managers
• Prepared monthly investment schedules recording all investment transactions, investment returns, and investment positions
• Prepared investment liquidity requests and payment notifications
• Prepared weekly and monthly investment analyses for independence compliance
• Understood and identified the impact of claim payments on finance schedules, claim listings, and reinsurance recoverables
• Ensured all invoices and other payment requests were processed in accordance with company policies and procedures
• Provided support for the execution of external audits
• Worked collaboratively with key stakeholders to identify and make recommendations on improvements to increase operational efficiency utilizing systems and automation
• Supported the finance team with preparing committee materials as required
• Assisted with ad hoc accounting or operational projects as necessary
• Provided support to the finance team as and when requested, including involvement with annual company initiatives

What you’ll need

• Bachelor's degree in Accounting, Finance, or a related discipline
• Professional accounting designation (CPA, CA, ACCA, ACA, or equivalent), or active pursuit of a designation
• 3-5 years of accounting or financial reporting experience
• Experience within insurance, reinsurance, financial services, or investment environments
• Strong understanding of accounting principles and financial reporting
• Advanced Microsoft Excel skills
• Experience with IFRS reporting is desirable
• Strong analytical, critical thinking, and problem-solving abilities
• Exceptional organizational skills with the ability to manage multiple priorities, meet deadlines, and consistently follow through on commitments, acting as a proactive self-starter with a strong sense of ownership and accountability
• Excellent written and verbal communication skills, with the confidence to engage effectively with stakeholders at all levels of the organization