With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠.
This role will provide necessary financial support for losses for Construction, National Accounts, Retail Energy and other assigned BU’s that use TPA’s for loss handling. This person will be responsible for monthly and quarterly loss accounting and reporting, including reconciliations, analysis, and financial statement support. This role partners closely with claims, underwriting, TPAs, and finance teams to analyze loss data, resolve discrepancies, and ensure accurate contract-based accounting.
This role is hybrid (2 days remote, 3 days in the office), and will sit in either our Jersey City, NJ, Hartford, CT, Garden City, NY, or Philadelphia, PA office.
Responsibilities and Accountabilities
Accounting and reporting for losses for the assigned business units on a monthly basis, and as part of the quarterly close process. Preparation and review of gross and ceded loss entries. Prepare balance sheet reconciliations & research and resolve items that are out of balance. This includes meeting prescribed deadlines for the quarterly close. Prepare and provide support for Quarterly and Annual Statement purposes as necessary.
Prepare an analysis of losses for Construction, National Accounts and Retail Energy that is provided to leadership on a monthly basis. Ability to recognize & explain anomalies in the data.
Analyze and research claims for TPA-driven loss data. This includes monitoring dashboards for missing or incorrect/incomplete data, with the ability to research the issues and work with various internal and external business partners to keep track of open items, and ensure any necessary fixes are implemented.
Review of binders/contracts to ensure accounting is in line with contract terms for deductible analysis and financial booking (e.g. retentions, aggregate retentions, clash/basket retentions, corridor retentions, etc), using strong attention to detail. Review and approve breached deductibles.
Assist with testing and implementation of new systems/processes including BU Datastores. This role will be responsible for working with large sets of data and identifying issues and providing suggestions for resolution.
Cultivate strong business partnerships while gaining a thorough understanding of the business being supported. Communication and interaction with TPA’s, underwriting, claims, claims IT, TPA Data Quality and claims finance teams to understand the business and provide the financial operational support needed.
Help identify inefficiencies and implement changes that will increase the operational efficiencies of the business, including scaling up as we grow.
Completion of key assignments/special projects that may be assigned from time to time.
Required Skills and Abilities
Strong communication and interpersonal skills.
Strong Excel skills.
Ability to analyze data, including ability to recognize anomalies in data.
Ability to effectively communicate analysis and conclusions to financial information end-users.
Education/Experience
5-7 years of North American property and casualty insurance industry experience.
Bachelor’s degree in finance or accounting required.
CPCU or other Insurance designations is a plus.
For individuals assigned or hired to work in the location(s) indicated below, the base salary range is provided. Range is as of the time of posting. Position is incentive eligible.
For NYC, Jersey City: $90,000 - $124,000/year
Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above pay range may be modified in the future.
Arch is committed to helping employees succeed through our comprehensive benefits package that includes multiple medical plans plus dental, vision and prescription drug coverage; a competitive 401k with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long-Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care; and more. Click here to learn more on available benefits.
Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you. If this job isn’t the right fit but you’re interested in working for Arch, create a job alert! Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our talent community to share your preferences directly with Arch’s Talent Acquisition team.
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