Senior Accountant, Arbol
Statutory Accounting
$150-175k
Climate risk coverage company
Open for applications
Climate risk coverage company
21-100 employees
Open for applications
$150-175k
21-100 employees
Company mission
To make a difference - for you, for us, for your farmer, for your energy providers, for everyone.
Role
Who you are
- This role requires a seasoned professional with hands-on experience in P&C-specific schedules, loss reserve analysis, and reinsurance accounting
- The ideal candidate for this role has extensive statutory accounting experience, deep expertise in the insurance and reinsurance industry, and a proven track record of developing, implementing and improving processes in insurance and startup environments
- Bachelor’s degree in Accounting (CPA preferred)
- Minimum 5 years of accounting experience, with at least 3 years in P&C STAT reporting
- Strong understanding of NAIC statutory accounting principles and P&C insurance operations
- Experience with ERP accounting systems such as NetSuite or Sage Intact
- Familiarity with loss reserve methodologies, Schedule P reporting, and reinsurance
What the job involves
- The Senior Accountant / Director of Accounting, reporting to the Chief Financial Officer, will serve as the technical accounting leader for the company
- This role is responsible for providing expert guidance on U.S. Statutory Accounting Principles (SSAP), U.S. GAAP, and other applicable insurance accounting frameworks
- The role will lead the preparation and submission of statutory financial statements for P&C entities, ensuring full compliance with NAIC guidelines and state insurance regulations
- Prepare and file quarterly and annual STAT reports for P&C entities, including the various Schedules
- Reconcile and explain GAAP vs. STAT differences, particularly in areas like loss reserves and premium recognition
- Manage risk-based capital (RBC) calculations, asset admissibility, and premium deficiency testing
- Oversee reinsurance accounting, including ceded/assumed premiums and recoverablesSupport loss reserve development, including IBNR estimation and actuarial collaboration
- Respond to state inquiries and assist with regulatory examinations and audits
- Analyze underwriting results and trends impacting statutory profitability
- Mentor junior staff and contribute to process improvements and automation initiatives
Our take
$1 trillion of agricultural risk is not insured, much of it in developing nations, where many farmers do not have access to insurance at all. Small-hold farmers, or those facing variable weather conditions - only more frequent due to climate change - are last in line to receive coverage from traditional providers.
Arbol fulfils this gap with new technologies fit for these farmers needs. The startup offers parametric insurance codified on the Ethereum blockchain. That means it can utilize smart contracts, executing against hard parametric data to deliver automatic payments in two weeks or less. Weather risk for agriculture is Arbol’s primary coverage focus in its early stages, but it has already started rolling out smart contracts for other types of risk and industry.
Getting farmers paid in cases of conditions outside their control is a relatively simple concept. Arbol’s challenge is executing this. So far, it has done a great job of navigating customer education, complex datasets, evolving standards in the blockchain world, regulations, legal complexity, and a host of other challenges. And now with extra funding, the company is ready to widen the adoption of its products and establish climate risk as a tangible and investable asset class.
Steph
Company Specialist at Welcome to the Jungle
Company
Funding (last 2 of 3 rounds)
Apr 2024
$60m
SERIES B
Jan 2021
$9m
SERIES A
Total funding: $71m
Company benefits
- Medical, Dental, and Vision - 99.99% Covered
- Paid Holidays and Vacation: We support all of ‘em. But don’t let that stop you from taking personal time when you need to. We want you at your best. Always
- Matching 401k: After your 1st year anniversary, we match your contributions up to 6%
Company HQ
Midtown East, New York, NY
Leadership
Siddhartha Jha
(Founder & CEO)Before Arbol, they were a Cross-Commodities Quantitative Strategist at Citadel. Also worked in Commodities trading at Castleton, Arbalet Capital and JP Morgan Chase. Harvard graduate.
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