Accounting Specialist, Loss Reserves

Job Title: Accounting Specialist - Loss Reserves

Job Category: Finance & Accounting
Employment Status: Full-Time, Exempt

Role Overview

The Accounting Specialist - Loss Reserves is responsible for the accounting, analysis, and reporting of insurance loss reserves within a property insurance environment. This role works closely with Actuarial and Finance teams to ensure reserve balances are accurate, well‑supported, and reported in accordance with GAAP and statutory accounting standards. The position plays a key role in the financial close process and supports regulatory and audit requirements through detailed reconciliations and documentation.

Key Responsibilities

• Prepare and record journal entries related to insurance loss reserves, including case reserves and incurred but not reported (IBNR).
• Perform monthly and quarterly reconciliations of loss reserve balances between actuarial reports and the general ledger.
• Support the month‑end and quarter‑end close processes, including variance analysis and explanations of reserve movement.
• Partner with Actuarial teams to understand drivers of reserve changes and translate actuarial data into financial reporting impacts.
• Prepare and maintain loss development triangles and other reserving support schedules.
• Ensure compliance with U.S. GAAP and statutory accounting requirements related to insurance reserves.
• Assist with statutory reporting, including Schedule P and other regulatory filings, as applicable.
• Support internal and external audits by providing reconciliations, workpapers, and detailed explanations.
• Maintain and enhance internal controls related to reserving and financial reporting.
• Identify opportunities to improve efficiency, documentation, automation, and control processes.
• Utilize Excel and data tools (e.g., PowerQuery, PowerPivot, SQL) to analyze financial data and prepare reports.
• Leverage internal systems and tools to automate recurring processes; document established procedures.
• Contribute to special projects and perform additional duties as assigned.

Qualifications

Education & Experience

• Bachelor's degree in Accounting, Finance, Actuarial Science, Statistics, or a related field (or an equivalent combination of education and relevant experience).
• Minimum of 4 years of professional accounting experience, preferably within insurance and/or reserve‑related functions.

Knowledge, Skills & Abilities

• Strong understanding of accounting principles; GAAP required, statutory accounting experience preferred.
• Exposure to Schedule P and/or statutory insurance filings.
• Experience with journal entries, balance sheet reconciliations, and financial close processes.
• Advanced proficiency in Microsoft Excel.
• Experience with general ledger systems such as SAP, Oracle, or similar platforms preferred.
• Working familiarity with insurance reserving concepts and actuarial data.
• Experience supporting SOX or other internal control frameworks is a plus.
• Working knowledge of PowerQuery, PowerPivot, and/or SQL is a plus.
• Strong analytical mindset with high attention to detail.
• Ability to clearly communicate financial impacts of actuarial analyses.
• Excellent written and verbal communication skills.
• Self‑directed, collaborative, and able to manage multiple priorities in a deadline‑driven environment.
• Demonstrates professionalism, integrity, teamwork, and a continuous improvement mindset.