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POSITION REPORTS TO: Reinsurance Director

POSITION TITLE: Accountant 1

COMPANY: Beneficial Life Insurance Company

OUR COMPANY

Beneficial Life Insurance Company (Beneficial) is the oldest life insurance company domiciled in the Intermountain West. Beneficial was founded in 1905 with a desire to provide financial security for individuals and families. Although no longer selling new policies, Beneficial remains steadfast in its commitment to fulfill its obligations and provide excellent customer service to its existing policyholders and annuitants.

Beneficial operates under its parent company, Deseret Management Corporation (DMC), organized in 1966 to manage some of the commercial companies affiliated with The Church of Jesus Christ of Latter-day Saints. Today it owns and operates life insurance, media, and hospitality businesses including Beneficial Life Insurance Company, Deseret News Publishing Company, Bonneville International Corporation, Deseret Book Company, Deseret Digital Media, and Temple Square Hospitality. DMC focuses on providing content and service through all its media and services that are consistent with its mission and treating all with dignity, respect, humility, and integrity.

JOB SUMMARY

Assists with the management of all functions of the Reinsurance Department including the implementation, administration, accounting, and reporting for reinsurance agreements. The Reinsurance team is responsible for Statutory and GAAP reporting for all reinsurance business.

DUTIES/RESPONSIBILITIES

• Posts journal entries to the general ledger
• Codes and maintains reinsurance activity on policy records
• Collects claim recoverables from reinsurers
• Prepares, audits, and reconciles accounting transactions and reinsurance records
• Prepares reinsurance billings; manages reinsurance collections and disbursements
• Prepares basic and complex reinsurance financial, analytical, and management reports, and reserve and policy exhibit summaries
• Prepares analysis of financial results and checks for reasonableness
• Assists auditors and insurance examiners in analysis and verification of reinsurance records and financial reporting
• Networks with reinsurers and industry associates to build relationships, monitor industry developments, and regulations, etc.
• Studies and understands reinsurance contracts; designs custom reinsurance reporting and administration documents; evaluates reinsurers annually for quality control
• Validates systems and reinsurance calculations; assists with the management, development, and implementation of new systems
• Assists with external audits
• Profit plan preparation and oversight
• Coordinate reinsurance activities with other company functions and complete corporate projects as assigned
• Maintain a thorough knowledge of regulations affecting reinsurance activity
• All other duties as assigned by manager

EDUCATION AND EXPERIENCE

• College degree preferred
• Successful enrollment or completion of industry courses, or other job-related professional study required
• Experience in accounting
• Regular attendance at continuing education courses and association meetings

REQUIRED SKILLS/ABILITIES

• Excellent verbal and written communication
• Proficient in Microsoft Office Suite, particularly Excel
• Strong ability to work effectively as a team and individually to meet financial deadlines
• Excellent interpersonal, management, and negotiating skills
• Ability to read, examine and organize documents under sometimes demanding workloads

PHYSICAL REQUIREMENTS

• Prolonged periods of sitting at a desk and working on a computer
• Must be able to lift up to 15 pounds at times

BENEFITS

• Competitive wages
• Complimentary parking or UTA pass
• Health (medical, dental, vision, life, LTD, etc.) insurance
• Retirement savings plans, with company match
• Paid Time Off Plan
• Employee Assistance Program
• Paid maternity and parental leave
• Up to 12 paid holidays per year