Reinsurance Accountant

Position Summary:

Our organization is seeking an experienced Reinsurance Accountant to oversee the accounting, reporting, reconciliation, and financial analysis associated with the company's reinsurance activities. This position will play a critical role in ensuring the accurate and timely accounting of ceded reinsurance transactions, including premiums, commissions, claims, recoverables, reserves, settlements, and related financial reporting.

The ideal candidate will bring a strong understanding of reinsurance accounting, insurance accounting principles, statutory reporting, and reinsurance contracts, along with the ability to work collaboratively with Finance, Underwriting, Claims, Actuarial, and Reinsurance teams. This is a hands-on position for an accounting professional who understands the complexities of reinsurance and can take ownership of the accounting process from transaction through financial reporting and reconciliation.

Have you got the right qualifications and skills for this job Find out below, and hit apply to be considered.

Essential Responsibilities:

• Manage the accounting for ceded reinsurance transactions, including premiums, losses, commissions, recoveries, and settlements.
• Record and reconcile reinsurance activity in accordance with applicable accounting standards and company policies.
• Prepare and review reinsurance journal entries, account reconciliations, accruals, and supporting schedules.
• Monitor and reconcile reinsurance recoverables, ceded premiums, loss reserves, and related balance sheet accounts.
• Analyze significant fluctuations in reinsurance balances and investigate discrepancies.
• Support monthly, quarterly, and annual financial close processes.
• Ensure accurate accounting treatment of complex reinsurance transactions and contractual provisions.
• Monitor outstanding reinsurance recoverables and coordinate collection and settlement activities.
• Reconcile amounts due from reinsurers to contractual terms and internal records.
• Investigate and resolve discrepancies between company records, reinsurer statements, and third-party information.
• Support preparation of statutory financial statements and insurance regulatory reporting related to reinsurance.
• Ensure accounting practices comply with applicable statutory accounting principles and regulatory requirements.

Qualifications:

Bachelor's degree in Accounting or Finance preferred with at least several years experience within the insurance or reinsurance industry.

• Strong understanding of ceded reinsurance accounting.
• Experience with reinsurance premiums, claims, recoverables, commissions, reserves, and settlements.
• Advanced Excel skills and experience working with accounting or insurance systems. xhyhwjd
• Strong analytical, organizational, and problem-solving skills.