Coordination and execution of all reinsurance accounting and reporting for BU’s in the North America region, for both assumed and ceded programs. Maintain relationships with internal and external reinsurers and business partners around the world. Accounting system implementations, enhancements and projects as needed.
Accounting for Assumed and Ceded Reinsurance (60%)
Accurate recording of monthly journal entries for the US and Canada. Must be able to multi task and work efficiently to meet deadlines.
Analyze variances between actual and budgeted objectives.
Recording and monitoring of cash settlements and cash calls.
At year end calculating and obtaining letters of credit as needed for statutory requirements.
Reconciliation of assumed and ceded activity with foreign subsidiaries of the Company.
Formal group intercompany reconciliation process on a quarterly basis.
Contract and Relationship Management (20%)
The Senior Accountant of Reinsurance is the primary contact for The Company’s relationship with the reinsurers.
Periodic meetings with reinsurers to review results and negotiate contracts.
Prepare reports and participate in the annual renewal process.
Create new reinsurance treaties with the annual renewal and facultative treaties as policies are written.
Ensure that contracts are completed with in statutory time lines.
Review set up of new contracts and programs in reinsurance system.
Reinsurance Reporting (10%)
Prepare quarterly reinsurer statements. Provide reinsurance figures for Board, Auditors & Regulators.
Prepared reports on reinsurance activity for US & Canadian statutory reporting quarterly/annually.
Comply with economic reports of transactions with foreign entities as required by their governments.
Prepare audit documentation as requested and respond to external audit and regulator inquiries.
Complete and update Controls and control documentation over the reinsurance process.
Respond to internal audit requests.
Insurance and Reinsurance accounting and reporting experience required, preferably in international & multi-currency environment.
Strong knowledge of technical accounting, reporting and regulatory requirements.
Public accounting experience, CPA or CPA eligible a plus.
Flexible, self starter, highly accountable.
Proficient in Excel with expert knowledge of pivot tables and advanced formulas.
Expert understanding of processes and systems.
Exceptional interpersonal and communication skills for cross border cooperation in business dealings with reinsurers, auditors and regulatory agencies in an international environment.
Bachelor’s Degree in Accounting, Finance, or related degree.
2 to 4 years experience in accounting field.
Ability to design, test, interface and reconcile large amounts of data/calculations between complex and highly technical systems.
Ability to keep up with and comply with changing regulatory requirements of multiple countries, and meet tight deadlines with limited resources.
Job Type: Full-time
Accounting: 2 years