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AVP Product Accounting

Hartford, Connecticut

Who Are We?

Taking care of our customers, our communities and each other. That's the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range

$134,200.00 - $221,500.00

Target Openings

1

What Is the Opportunity?

Performs professional accounting work to ensure current, accurate and complete financial information. Oversees creation, accuracy and completeness of internal and external financial reporting and analysis as it pertains to the Specialty Group Captive, Unbundled and fee based service businesses within National Accounts.

Under Broad Oversight, this position is responsible for directing the execution of financial transactions, financial reporting, controls and analysis for specialty products within the National Accounts' Group. This includes the Specialty Group Captive and Unbundled products that require oversight of transfer of ceded premiums and losses to captive reinsurers in accordance with reinsurance agreements issued with Traveler's policies. This role also has responsibility for the accurate books and records for unbundled claims and execution of loss limiting and excess claim reimbursements. In addition, role would have service-only product accounting responsibilities.

Strong business partnership and communication skills is needed as collaboration is required with various internal and external contacts: Underwriting, credit risk management, internal TPA Data Operations and Enterprise TPA Management, external TPAs, internal and external audit, technical support, and insureds.

Position has direct reports who manage a team of 8-10 managers and financial consultants.

What Will You Do?

  • Oversees internal management based financial reporting, both routine and ad hoc, complete and consistent results with corporate policies and standards.
  • Responsible for oversight of all financial activities for various products including journal entries and account reconciliations.
  • Oversees creation, accuracy and completeness of product level financial statements and of compliance with, including, but not limited to GAAP (Generally Accepted Accounting Principles), SEC and STAT (Statutory Accounting Principles). Review is completed with comprehensive view of organizational impact.
  • Develop, maintain and certify control financial controls in accordance with Sarbanes-Oxley requirements.
  • Establishes policy and oversees documentation, to support Internal and External Audits. Manages relationships with internal and external auditors.
  • Drive and oversee key business decision support leveraging robust financial analyses and operational perspectives.
  • Oversight of implementation of business and financial regulatory changes relating to financial reporting. For example, business reorganizations, mergers and acquisitions, new accounting standards, etc.
  • Oversee and ensure compliance with various financial external regulatory requirements and internal accounting policies.
  • Oversee and direct the development, implementation or enhancement to financial systems and processes (SME).
  • Sets work objectives and goals for employees and manage performance. Typically involved in hiring and compensation decisions.
  • Other duties as assigned.
  • Perform other duties as assigned.

What Will Our Ideal Candidate Have?

  • Bachelor's degree in accounting, finance preferred.
  • Typically 10+ years of related work experience
  • Thorough knowledge of accounting theory and practice
  • Thorough Knowledge:
  • Possesses advanced knowledge of subject matter in order to solve unusual as well as common work problems.
  • Advanced project management skills
  • Demonstrated advanced interpersonal skills.
  • Demonstrated advanced communication and presentation skills
  • Ability to Interact effectively with others across functions and all levels within organization.
  • Demonstrated ability to influence others across functions and levels of organization, including senior management.
  • Advanced ability to think strategically
  • Advanced Leadership Skills, including ability to:
  • Leverage Differences
  • Manage in participative manner
  • Develop employees
  • Manage change effectively
  • Inspire others and promote a vision
  • Understand and navigate organization
  • Align resources to accomplish key objectives.
  • Advanced skill/competency level: demonstrates advanced knowledge and ability; can apply the competency in new or complex situations. May guide other professionals
  • CPA professional designation or comparable advanced professional education preferred.

What is a Must Have?

  • Minimum 7 years of related work experience.
  • Minimum of 5 years of management experience.

What Is in It for You?

  • Health Insurance: Employees and their eligible family members - including spouses, domestic partners, and children - are eligible for coverage from the first day of employment.
  • Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
  • Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
  • Wellness Program: The Travelers wellness program is comprised of tools and resources that empower you to achieve your wellness goals. In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs. Through Life Balance, you're eligible for five free counseling sessions with a licensed therapist.
  • Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences. 


If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.


Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.


About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $25 billion in 2010.