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Senior Accountant

Employer
Massachusetts Property Insurance Underwriting Association
Location
Government Center, Boston
Salary
Starting Salary $83,500
Closing date
Dec 25, 2022

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Category
Accounting
Job Type
Full Time
Career Level
Experienced (Non-Manager)

Job Details

Massachusetts Property Insurance Underwriting Association is looking for a Senior Accountant to join our Finance department. We offer an excellent benefits package, a matching 401(k) program, and we are conveniently located in Government Center.

 

This position reports to the Accounting Supervisor and does not supervise any other positions.

 

OVERALL FUNCTION:

 

This position is responsible for general accounting matters for Massachusetts Property Insurance Underwriting Association and/or Rhode Island Joint Reinsurance Association (MPIUA/RIJRA). This position will also assist in testing of system enhancements and in development and training of the financial department staff.

 

JOB REQUIREMENTS:

 

This position requires an advanced understanding of accounting procedures and financial statement presentation. Statutory Accounting experience preferred. Requires excellent verbal and written communication skills, the ability to work independently, a high regard for detail, and excellent analytical skills. Requires proficiency in the operation of a computer and Microsoft Office applications, including Excel and Word as well as highly proficient in financial applications and complex spreadsheet work. A Bachelor’s Degree with an Accounting background is required. Minimum of 4 years related experience preferred. Ability to maintain confidentiality is essential.

 

RESPONSIBILITIES:

 

Responsible for daily banking transactions, including identification and verification of daily deposits/disbursements, and related journal entries Processing of the daily cleared checks file and verification of proper endorsement of claims disbursement check Receipt of policy cash and acceptance in financial portal Preparation of monthly general ledger closing and reconciliations Preparation of quarterly and annual financial statements Preparation of monthly, quarterly and annual audit schedules and reconciliations Preparation of management fees schedules for MPIUA Preparation of quarterly and semi-annual Property Insurance Plans Service Office (PIPSO) reports Development of Percentages of Participation of Member companies and calculation of Member company assessments/distributions Preparation of Federal and State tax returns Preparation of NAIC Annual Statement Preparation of 1099 filing Analysis and review of liabilities and expenses including reserve adequacy and expense distributions Maintenance of schedules for Fixed Assets and Depreciation (including journal entries) Maintenance of Prepaid Assets and schedules (including journal entries) Management and filing of records for Escheat Liabilities with the State’s Abandoned Property Division Identify MPIUA/RIJRA commission receivables over 90 days, prepare and issue letter to collect payment, and manage producers’ accounts Maintenance and remittance of levy notices Maintaining and processing bank affidavits Back-up employee for other tasks including web and in-house lockbox daily processing, and receipt of claims recovery checks All other duties and projects as assigned. PHYSICAL ACTIVITIES REQUIRED TO PERFORM ESSENTIAL FUNCTIONS:

 

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

 

Sit and remain in a stationary position for 90% of the time 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 individuals both inside and outside the organization 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 For more information about Massachusetts Property Insurance, please visit our website at www.mpiua.com. We are an Equal Opportunity Employer

 

Company

The Massachusetts Property Insurance Underwriting Association (MPIUA) also known as the Massachusetts FAIR Plan (Fair Access to Insurance Requirements) provides basic property insurance on eligible property for applicants who have been unable to gain insurance through the voluntary market. MPIUA offers policies under the Homeowners, Dwelling Fire and Commercial Property programs as approved by the Massachusetts Division of Insurance.

Company info
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