Sr. Manager, Accounting - Insurance

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Macy’s is more than just a store. We’re a story. One that’s captured the hearts and minds of America for more than 160 years. A story about innovations and traditions…about inspiring stores and irresistible products…about the excitement of the Macy’s 4th of July Fireworks, and the wonder of the Thanksgiving Day Parade. We’ve been part of memorable moments and milestones for countless customers and colleagues. Those stories are part of what makes this such a special place to work.

Job Overview

The Senior Manager, Insurance Accounting leads accounting and financial reporting activities related to the company’s insurance and risk management programs. This role oversees insurance accounting activities, including premium allocations, claims and reserve analysis, reconciliations, forecasting, financial reporting for the company’s insurance captive, and self-insurance governance.

The Senior Manager brings strong accounting and controls expertise, along with a solid understanding of insurance captive accounting, self-insurance programs, actuarial reserves, and insurance-related financial reporting.

What You Will Do

• Lead accounting and financial reporting for the company’s insurance and risk management programs.
• Oversee accounting for insurance premiums, claims, reserves, prepaid insurance, and related accruals.
• Maintain complete and accurate accounting records for the captive insurance company, including financial statements, reconciliations, and audit support.
• Lead annual planning and monthly forecasting for insurance-related income statement and balance sheet accounts.
• Partner with Treasury & Insurance, actuaries, third-party administrators, and other business partners to manage insurance and reserve activity.
• Review actuarial estimates, claims activity, and reserve changes, including incurred but not reported (IBNR) adjustments.
• Oversee annual recertification of self-insurance licenses and compliance requirements, including renewal applications, assessments, and security requirements.
• Ensure accurate and timely journal entries, account reconciliations, financial close activities, and supporting documentation.
• Maintain effective internal controls and support SOX, internal audit, and external audit requirements.
• Provide accounting guidance for new and evolving insurance programs, captive arrangements, and related transactions.
• Lead process improvements, standardization, and automation across insurance accounting activities.
• Oversee and review work performed by internal and outsourced accounting resources.
• Foster an environment of acceptance and respect that strengthens relationships, and ensures authentic connections with colleagues, customers, and communities.
• In addition to the essential duties mentioned above, other duties may be assigned.

Skills You Will Need

Insurance Accounting & Financial Reporting – Expertise in accounting and financial reporting for insurance programs, including premiums, claims, reserves, prepaid insurance, accruals, and related financial activity.

Captive Insurance Accounting – Experience managing accounting and financial reporting for captive insurance entities, including financial statements, reconciliations, audit support, and related transactions.

Self-Insurance Programs & Governance – Knowledge of self-insurance programs, licensing requirements, annual recertification, assessments, and related compliance requirements.

Actuarial Reserves & IBNR Analysis – Strong understanding of actuarial estimates, claims activity, reserve methodologies, and incurred but not reported (IBNR) adjustments.

U.S. GAAP & Technical Accounting – Strong knowledge of U.S. GAAP and the ability to apply accounting guidance to insurance programs, reserves, and captive arrangements.

Financial Controls, SOX & Audit Compliance – Experience maintaining effective internal controls and supporting SOX compliance, internal audits, external audits, and financial reporting requirements.

Financial Planning & Forecasting – Skilled in annual planning, monthly forecasting, variance analysis, and management of insurance-related income statement and balance sheet accounts.

Oracle & OneStream – Experience using Oracle, OneStream, or comparable enterprise accounting and financial reporting systems to support close, reconciliation, forecasting, and reporting activities.

Cross-Functional Partnership & Influence – Demonstrated ability to partner effectively with Treasury, Insurance, Tax, Financial Planning, actuaries, third-party administrators, and senior Finance leaders.

Process Improvement & Automation – Experience identifying and implementing opportunities to standardize, streamline, and automate complex accounting processes.

Who You Are

• Candidates with a bachelor’s degree or equivalent work experience in a related field are encouraged to apply.

• 5-8 years accounting or financial reporting experience with strong knowledge of U.S. GAAP, insurance accounting, financial controls, and account reconciliations.
• This role involves performing essential job functions such as communication, collaboration, and use of office and computer systems. Responsibilities include the ability to access and review written and electronic information, and to move within the work environment and interact with workplace materials as needed to carry out job responsibilities.

• Able to work a flexible schedule based on department and company needs.

What We Can Offer You

Join a team where work is as rewarding as it is fun! We offer a dynamic, inclusive environment with competitive pay and benefits. Enjoy comprehensive health and wellness coverage and a 401(k) match to invest in your future. Prioritize your well-being with paid time off and eight paid holidays. Grow your career with continuous learning and leadership development. Plus, build community by joining one of our Colleague Resource Groups and make a difference through our volunteer opportunities.

Some additional benefits we offer include:

• Merchandise discounts

• Performance-based incentives

• Annual merit review

• Employee Assistance Program with mental health counseling and legal/financial advice

• Tuition reimbursement

Access the full menu of benefits offerings here.

About Us

This is a great time to join Macy’s! Whether you’re helping a customer find the perfect gift, streamlining operations in one of our distribution centers, enhancing our online shopping experience, buying in-style and on-trend merchandise to outfit our customers, or designing a balloon for the Thanksgiving Day Parade, we offer unique opportunities to be part of some of the most memorable moments in people’s lives.

Join us and help write the next chapter in our story - apply today!

This job description is not all-inclusive. Macy's, Inc. reserves the right to amend this job description at any time. Macy's, Inc. is an Equal Opportunity Employer, committed to a diverse and inclusive work environment.

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