About Us
Dealer Owned Warranty Company LLC is a leading provider of F&I (Finance and Insurance) partnership services in the automotive industry, offering a full suite of obligor and administrator services, top-of-the-line products, technology, and training. We understand the importance of leveraging process and technology in the F&I industry to drive revenue and ensure success. Our goal is to provide visibility, transparency, and the tools needed for our partners to build their wealth and achieve their goals. DOWC prides itself on taking care of its employees (We were voted one of the “Best Places to Work” three years in a row!), and we also offer award-winning products. All of our positions are fully on-site in Parsippany, NJ.
Job Summary:
The Senior Accountant within the Insurance Accounting Department plays a pivotal role in managing the financial reporting for Provider Management Services (PMS) clients. This position is responsible for ensuring accurate and timely financial data is prepared and reviewed, including the preparation of monthly financial statements, balance sheets, and income statements. These statements are critical for management's review and decision-making. The Senior Accountant will maintain a thorough understanding of each assigned client’s financial status, enabling them to answer complex questions from both the client and internal teams, ensuring compliance with all accounting standards and regulations.
Duties/Responsibilities:
- Actively participate in the month-end close process for assigned clients, ensuring accurate preparation and/or review of both GAAP (Generally Accepted Accounting Principles) and Statutory financial statements.
- Collaborate with other departments to gather necessary data for closing the books, ensuring the timely completion of reports for internal and client management.
- Prepare and maintain detailed reconciliations for all general ledger accounts, ensuring that all balances are accurate and in compliance with financial reporting standards.
- Identify discrepancies and work proactively to resolve issues, ensuring all adjustments are properly documented.
- Review and reconcile bank statements monthly, including researching and investigating any unknown deposits, withdrawals, or other discrepancies.
- Ensure the timely resolution of any outstanding items, communicating effectively with both internal and external stakeholders as needed.
- Prepare and post monthly general ledger journal entries, ensuring they are supported by clear, concise descriptions and adequate documentation.
- Work closely with the offshore accounting team to ensure journal entries are accurate and properly classified.
- Review cession and loss experience reports prepared by the Reporting Team, ensuring accuracy and alignment with financial statements and records.
- Provide feedback and support to the Reporting Team for report improvements or adjustments.
- Assist with both external and internal audits by providing necessary documentation, explanations, and support during the audit process.
- Perform ad hoc financial analysis and special projects as needed, providing insights or solutions to unique client or internal accounting issues.
- Collaborate with other teams to complete these projects and ensure they align with organizational goals.
Required Experience & Qualifications:
- Bachelor's Degree in Accounting required.
- Minimum of 5+ years of experience in corporate accounting.
- Minimum of 1+ years of experience within the insurance industry.
- Must have strong technical accounting skills in financial statement preparation & analysis, general ledgers, P&L, balance sheets, revenue recognition, etc.
- Strong verbal and written communication skills are essential, including the ability to articulate complex financial data to both clients and management in a clear and concise manner.
- High proficiency in Microsoft Office Suite (Excel, Word, Outlook), NetSuite and other related financial software applications.
- Excellent interpersonal skills are needed to build and maintain effective relationships with clients, internal teams, and auditors, ensuring smooth collaboration across departments.
- Strong analytical skills and the ability to troubleshoot complex accounting problems, providing actionable insights or solutions.
- In-depth knowledge of Generally Accepted Accounting Principles (GAAP).
- Expertise in performing reconciliations, validating the accuracy of financial data, and ensuring that all account balances are in compliance with accounting standards.
- Superior Excel skills are a must, with advanced functions such as pivot tables, macros, and complex formulas being essential for day-to-day activities.
- A self-starter who takes ownership of tasks and follows through on initiatives, demonstrating reliability and initiative in all aspects of the role.
- Exceptional organizational skills and keen attention to detail are crucial to managing multiple tasks and deadlines effectively while maintaining the integrity of financial records.
- Ability to manage time efficiently, meet deadlines consistently, and prioritize tasks to ensure all financial reporting and accounting processes are completed on time.
- Ability to thrive in a fast-paced, dynamic environment while maintaining a high standard of work quality.
Come join our growing team here in Parsippany! As NJ's Best Places to Work Honoree for three years in a row, we offer:
- Competitive compensation
- Medical, Dental, Vision, 401k matching, ancillary benefits
- PTO and Sick Time
- Corporate events, team and culture building activities, employee awards and recognition, company trips and more!
DOWC is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected Veteran status, sexual orientation, gender identity, gender expression, genetic information, or any other characteristic protected by law. Applicants who require accommodation to participate in the job application process may contact us for assistance
Pay: $95,000.00 - $105,000.00 per year
Benefits:
- 401(k) matching
- Dental insurance
- Health insurance
- Vision insurance
Experience:
- insurance accounting: 1 year (Required)
Ability to Commute:
- Parsippany-Troy Hills, NJ 07054 (Required)
Work Location: In person
