Senior SAP FS-RI Consultant

Job Description

Job Description

Job Title: Senior SAP FS-RI Consultant
Location: Jersey City, NJ / Parsippany, NJ / New York, NY (Hybrid)
Duration: 24 months

Salary Range: $78.00 - $80.00/Hour on W2 (Without Benefits).
Applicants must be willing to work on W2

Job Description:
Experience Required: 10+ years
Required Experience: 7+ years in SAP S/4HANA
Role Description

• Analyze business requirements related to reinsurance processes and translate them into SAP FS-RI functional solutions.
• Configure and support SAP FS-RI for treaty and facultative reinsurance, including proportional and non-proportional structures.
• Set up and maintain reinsurance contracts, treaties, sections, and participation structures.
• Support premium calculation, estimations, postings, claims, recoveries, commissions, and settlements.
• Ensure accurate reinsurance accounting and postings to SAP S/4HANA Finance.
• Manage UPR, reinstatement premiums, and period-end reinsurance activities.
• Support month-end, quarter-end, and year-end close processes related to reinsurance.
• Work closely with Finance, Actuarial, and Business stakeholders to resolve functional issues.
• Support and coordinate system integration with SAP FS-CD, SAP FI, and upstream/downstream systems.
• Prepare and maintain functional specifications, configuration documents, and test scenarios.
• Support SIT, UAT, defect resolution, and production issues.
• Analyze and resolve posting errors, reconciliation issues, and data discrepancies.
• Ensure compliance with internal controls, audit, and regulatory requirements.
• Participate in change management, transports, and release activities.
• Provide knowledge transfer and support to onshore/offshore teams as required.

Must Have Experience

• Strong hands-on experience with SAP FS-RI (Reinsurance) configuration and support.
• Proven reinsurance domain expertise, including:
  • Treaty & Facultative reinsurance.
  • Proportional and Non-Proportional structures.
  • Ceded and Assumed reinsurance.
• Experience with treaty/contract setup, premium calculation, postings, and estimations.
• Functional knowledge of claims processing, recoveries, commissions, settlements, UPR, and reinstatement premiums.
• Strong understanding of reinsurance accounting principles.
• Experience supporting month-end, quarter-end, and year-end close processes.
• Integration experience with:
  • SAP S/4HANA Finance (FI-GL, FI-AP, FI-AR).
  • SAP FS-CD.
• Ability to analyze posting logic, document flow, reconciliation issues, and data discrepancies.
• Experience supporting SIT, UAT, and production issues.
• Ability to prepare functional specifications and support business requirement discussions.
• Exposure to SAP and non-SAP system interfaces.
• Basic ABAP debugging/log analysis skills.
• Insurance/Reinsurance industry experience is mandatory.
• 6+ years of SAP experience with 3+ years of hands-on SAP FS-RI experience.

Generic Managerial Skills

• Strong communication skills for stakeholder management across business, IT, and leadership groups.
• Ability to manage multiple workstreams, prioritize tasks, and deliver within timelines.
• Problem-solving mindset with attention to detail and ability to work independently.
• Ability to mentor junior team members and support knowledge transfer.
• Experience in Agile/Scrum ceremonies and backlog management.

Keywords

• SAP FS-RI / FSRI
• Reinsurance
• Treaty & Facultative
• Proportional / Non-Proportional
• Ceded & Assumed Reinsurance
• Treaty Configuration / Contract Setup