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.

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.
• Strong analytical, organizational, and problem-solving skills.