Jr. Reinsurance Accountant

Join Starr

Starr, a global leader in commercial insurance with over a century of expertise, empowers its employees to innovate, make impactful decisions, and build lasting client relationships worldwide. At Starr, you'll work in an entrepreneurial culture alongside accessible leaders, leveraging our financial strength and vast industry experience to deliver solutions for our clients, no matter how complex. Grow your career with a rapidly growing company that invests in its people and their ability to drive real progress.

JR Reinsurance Accountant

We are seeking a JR Reinsurance Accountant to support our Facultative Premium handling, processing reinsurance accounts, assisting in monitoring and recording of incoming cash as well as performing reporting and reconciliation activities. The role will also support the leading/overseeing the work performed by our processing unit/center for the clients/accounts and/or processes assigned, provide guidance on reinsurance accounting matters as well as authorize and/or escalate financial transactions and/or payments as per authority matrix, escalate issues to management and/or senior management. Handle internal/external client relationships as per assignments and steer processing units/centers to assure achievement of operational and financial targets. Perform Reinsurance Accounting operational duties as needed/required.

Key Responsibilities:

• Produce quarterly reports on the assigned accounts to be rendered to the pertaining brokers and reinsurance markets.
• Support our Facultative premium process and payments.
• Provide guidance to our processing unit/center for the clients/accounts and/or processes assigned.
• Produce quarterly reports on the assigned accounts to be rendered to the pertaining brokers and reinsurers.
• Follow up on cash collection and disburse payments.
• Register, allocate and apply cash to the respective systems and control files.
• Liaising with Operations, reinsurance services and business units to book and pay ceded facultative reinsurance premiums.
• Record incoming cash from bank statements into our Cash system.
• Consolidate Reinsurance Accounting incoming detailed cash information.
• Support cashflow forecast process and activities.
• Assure data integrity performing reconciliations between Reinsurance systems, General Ledger, financial systems and bank accounts.
• Participate in projects/initiatives.
• Run ad-hoc reports as needed.

Qualifications:

Strong analytical, problem-solving, and troubleshooting abilities with high attention to detail. Clear, concise written and verbal communication skills. Adaptable, solutions-oriented mindset with a continuous improvement focus. Excellent problem-solving skills and can work in a fast-paced environment. Ability to adapt to changes and implement them accordingly. Ability to work as a team player while demonstrating leadership traits to steer our processing units/center. Proficient with Microsoft Office; Excel skills required.

Education: Bachelor's degree and 0-5 years of relevant insurance/reinsurance accounting experience.

Preferred/Nice to Have: Degree in business, accounting or finance related fields is a plus. Knowledge of reinsurance accounting principles, practices, and regulations; experience across ceded programs (e.g., QS, XOL, facultative), cash/settlements, and recoveries. Experience and knowledge with leading reinsurance administration platforms (e.g., SICS, Pro, XL Pro, Pro Cede Reinsurance Master or similar).

For individuals assigned and/or hired to work in New York, Starr Insurance Companies is required by law to include a reasonable estimate of the compensation range for this role. The wage range for this role takes into account the wide range of factors that are considered in making compensation decisions including but not limited to skill sets: experience and training: licensure and certifications: and other business and organizational needs. A reasonable estimate of the current range is $65,000-$95,000.

Starr is an equal opportunity employer, which means we'll consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we're committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.