Corporate Accountant
Job Description
nowly is a new way of thinking about insurance. Instant coverage now. Living healthy now. Giving back now. That’s living nowly. We provide Canadians affordable and instant insurance and healthy living benefits on an innovative and streamlined digital platform. Nowly is a division of Teachers Life Insurance, a Canadian Insurance company. Teachers Life is an established 80+ year Canadian life, disability, and sickness insurer, and is one of the largest insurance companies for education workers in Canada. We are federally licensed and regulated and have won awards for digital innovation. Teachers Life owns and operates nowly, which is our new, purpose-driven, digital-first brand for all Canadians. As a result of growing and reinventing our business, Teachers Life/nowly is evolving in a high-performance culture with newly, co-created employee values that will allow us to deliver market leading products and servicing to customers. These new values include innovation, impact, fun, communication, collaboration, accountability, and a helping build a better world.
Teachers Life/nowly is seeking an Corporate Accountant to support driving new and innovative solutions. Who is our ideal candidate? You have experience in underwriting administration with a strong overall understanding of life and health insurance. You have excellent communication and organizational skills and can comfortably handle multiple priorities. You are comfortable working in a fast-paced, collaborative environment and actively look for ways to streamline processes and procedures.
Are you passionate about the future of Life Insurance? Do you want to be part of a mature organization that is growing and reinventing its business? Do you want to be part of a culture that recognizes and rewards success?
If “yes”, Teachers Life/nowly is the right place to be! Could this be your next great opportunity?
Reports to:
Department:
Flexible Work Options Available:
POSITION SUMMARY
KEY RESPONSIBILITIES
Treasury Administration:
- Monitor cash flows for all bank accounts and maintain a 6-week cash flow forecast
- Prepare bank reconciliations on a semi-monthly basis
- Execute payments to partners and vendors through ScotiaConnect
- Review and approve wire transfers
- Facilitate investments into and withdrawals from the investment portfolio
- Manage the corporate banking and VISA card programs
Finance:
- Prepare and post month-end journal entries in compliance with IFRS standards
- Work with Actuary to prepare IFRS 17 component balances for input into Risk Integrity
- Record monthly revenues and expenses
- Monitor and analyze divisional expenses relative to budget
- Maintain rent, fixed asset and prepaid expense schedules
- Prepare monthly financial reporting for management
- Perform monthly reconciliation of distribution partners’ monthly results and commission program
- Perform calculations for insurance or annuity plans with financial components (annuities, interest, policy loans, etc.)
- Run reinsurance settlement jobs from administration system
- Prepare quarterly financial statements for regulatory filing
- Support the interim and year end audits
- Issue tax slips to eligible customers
- Assist the Director, Finance in the annual budget and forecast process
- Assist in the implementation of new accounting standards and new business opportunities
- Analyze accounting systems, identify any inaccuracies, and recommend improvement measures to all
System Exposure:
Adagio AP, Adagio GL, Bambora (TD Merchant), Box Simple Online, DocuSign, Dynac, ExpensePoint, FIMMAS, ImageRight, Printboss, ScotiaConnect, ScotiaDirect, ScotiaVisa, Stripe, Telpay, VersaPay.
QUALIFICATIONS & EXPERIENCE
- University or college degree/diploma in a relevant field of study; Accounting designation (CPA) is required
- Minimum of 5-7 years experience in a finance or accounting role
- Financial services experience required, insurance background is an asset
- Experience with reconciliations, month end closing, financial statements, and audit
- Proficiency with Microsoft Excel, General Ledger systems and file import/export
SKILLS & CORE COMPETENCIES
- Technically strong in accounting principles (GAAP), practices and procedures and internal controls
- Keen attention to detail
- Strive for quality while maintaining productivity
- Ability to work under tight timelines, multi-task and exhibit good daily performance habits
- Communicates effectively with both internal and external customers
- Ability to work as part of a team and able to work independently with minimal supervision
- Proven ability to quickly learn and adapt to new systems and software
- Strong problem-solving, analytic, and reporting skills
- Strong written and verbal communication skills
- Excellent interpersonal skills and a strong, collaborative team player
- Seeks out new tasks and responsibilities when appropriate
- Strong alignment with our organizational mission, vision, and core values
HOW TO APPLY
If this sounds like your next great opportunity, please send your cover letter and resume to Becky Mask, Director, People and Culture, at rmask@teacherslife.com. Consideration of applicants will begin immediately and continue until the position is filled. We thank all applicants for their time in applying, however we will only contact those selected for further consideration. If you are not selected for this opportunity, we will retain your application for future consideration. We are an equal opportunity employer committed to diversity and inclusion. We are pleased to consider all qualified applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veterans status, Aboriginal/Native American status or any other legally-protected factors. Disability-related accommodations are available on request for candidates taking part in all aspects of the selection process.
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