Staff Accountant

Job Description

Job Description

Massachusetts Property Insurance Underwriting Association is seeking a Staff Accountant to join our Finance Department. This position reports to the Accounting Manager and does not supervise any other positions. Massachusetts Property Insurance Underwriting Association (“MPIUA”), through a Service Agreement, provides management and administrative services to Rhode Island Joint Reinsurance Association (“RIJRA”). This position is responsible for preparing all related financial statement reports and company filings, performing various monthly general ledger closing activities, and completing account reconciliations for RIJRA. It is also responsible for maintaining the daily banking activity for MPIUA.

JOB REQUIREMENTS:

This position requires a strong knowledge of accounting procedures and financial statement presentation. Statutory accounting experience is preferred but not necessary. The role requires the ability to work independently, a high regard for detail, and strong analytical skills. Strong verbal and written communication skills are needed to communicate with colleagues, and an ability to express ideas and concepts clearly is required. Proficiency with Microsoft Office applications, particularly advanced Excel, and experience with financial applications and complex spreadsheet work are required. A bachelor's degree with an accounting background is required. Minimum of 2 years related experience preferred. The ability to maintain confidentiality is essential.

1. Responsible for daily banking transactions, including identification and verification of daily deposits/disbursements, and related journal entries.
2. Processing of the daily cleared checks file and verification of proper endorsement of claims disbursement checks.
3. Preparation of monthly general ledger closing and reconciliations for RIJRA.
4. Preparation of quarterly and annual financial statements for RIJRA.
5. Preparation of monthly, quarterly and annual audit schedules and reconciliations for RIJRA.
6. Preparation of quarterly and annual Property Insurance Plans Service Office (PIPSO) reports for RIJRA.
7. Development of Percentages of Participation of Member companies and calculation of Member company assessments/distributions for RIJRA.
8. Preparation of Federal and State partnership tax returns for RIJRA.
9. Preparation of NAIC Annual Statement for RIJRA.
10. Preparation of 1099 filing for RIJRA.
11. Analysis and review of liabilities and expenses including reserve adequacy and expense distributions for RIJRA.
12. Management and filing of records for Escheat Liabilities with the State’s Abandoned Property Division for RIJRA.
13. Identify RIJRA commission receivables over 90 days, prepare and issue letters to collect payment, and manage producers’ accounts.
14. Receipt of counter cash payments, preparation and posting of counter cash journal entries.
15. All other duties and projects as assigned.

ACTIVITIES REQUIRED TO PERFORM ESSENTIAL FUNCTIONS:

To complete the essential functions of this position in a complete and timely fashion, the person must be able to:

• Must be able to remain in a stationary position 100% of the time.
• Needs to occasionally move about the office to access documents, office machinery, interact with team members, attend meetings, etc.
• Operate a computer and other office productivity equipment as needed to meet the requirements of this position.
• Read and create both physical and electronic documents.
• Effectively communicate with employees, customers, vendors, and other internal and/or external business partners on the telephone, in writing and in person.
• Think analytically, concentrate on assigned tasks, observe, and remember detail, and make decisions sufficient to meet the requirements of this position.
• Ability to travel as needed to meet the requirements of this position.

We offer an excellent benefits package, a matching 401(k) program, pension program, and we are conveniently located in Government Center.

For more information about Massachusetts Property Insurance, please visit our website at Interested applicants should send resumes via e-mail. We are an Equal Opportunity Employer.