Senior Associate, Finance & Accounting Outsourcing (Captive Insurance Industry)
About the role
Cherry Bekaert, a full-service accounting and advisory firm, is seeking an Experienced Captive Manager and Accountant to join our Finance & Accounting Outsourcing (FAO) practice, supporting clients in the Captive Insurance industry. This role is critical in delivering high-quality outsourced accounting and regulatory filing services across multiple client engagements.
Responsibilities
Prepare day-to-day and month-end accounting support including journal entries in key process areas:
Premium revenue recognition
Loss reserves and IBNR accruals
Prepaid expenses and accrued liabilities
Cash and investment accounting
Account reconciliations and supporting schedules
Perform complex balance sheet reconciliations and resolve reconciling items timely.
Aid with month-end, quarter-end, and year-end close processes for captive insurance clients.
Prepare and review monthly and quarterly financial reporting packages for management and boards.
Develop and maintain a strong understanding of each assigned client’s operations, captive structure, and accounting system.
Aid with statutory and GAAP-based financial reporting as applicable.
Support regulatory filings and compliance requirements for captive insurance entities, including coordination with captive manager team and domiciliary regulators.
Collaborate with actuaries and third-party administrators (TPAs) to support loss reserve analysis and claims data reconciliation.
Aid external auditors and tax advisors by preparing schedules, explanations, and supporting documentation for audits and tax filings.
Aid in the preparation and review of annual 1099 filings.
Recommend, design, and implement accounting controls, policies, and process improvements.
Communicate proactively with clients regarding accounting matters, deliverables, and timelines.
Requirements
Bachelor’s degree in Accounting or a related field.
3+ years of progressive accounting experience, preferably supporting insurance or captive insurance entities.
Experience working with multiple clients or engagements in an outsourced or public accounting environment preferred.
Proficiency with automated accounting systems and spreadsheet applications; experience with QuickBooks, Sage or similar general ledger systems preferred.
Advanced proficiency in Microsoft Excel.
Strong understanding of GAAP and statutory accounting principles (SAP).
Knowledge of captive insurance operations, including:
Premium and underwriting income
Loss reserves and claims-related accounting
Reinsurance and fronting arrangements
Investment accounting
Surplus, capital, and equity accounts
Excellent verbal and written communication skills.
Highly detail-oriented with strong analytical and problem-solving abilities.
Proven ability to manage multiple engagements and competing deadlines.
Strong organizational and time-management skills.
Ability to work independently and collaboratively as part of a team.
Flexible and adaptable in a fast-paced, client-focused environment.
Demonstrated professionalism, strong ethics, and a calm demeanor under pressure.
CPA license preferred, but not required.
What You Can Expect From Us
Our shared values that foster inclusion and belonging including uncompromising integrity, collaboration, trust, and mutual respect.
The opportunity to innovate and do work that motivates and engages you.
A collaborative environment focused on enabling you to further your career growth and continuous professional development.
Competitive compensation and a total rewards package that focuses on all aspects of your wellbeing.
Flexibility to do impactful work and the time to enjoy your life outside of work.
Opportunities to connect and learn from professionals from different backgrounds and with different cultures.
About Cherry Bekaert
Cherry Bekaert, ranked among the largest assurance, tax and advisory firms in the U.S., serves clients across industries in all 50 U.S. states and internationally. For more details, visit here.