As a Senior Reinsurance Accountant, you will play a pivotal role in our finance department, ensuring accurate accounting and reporting of reinsurance transactions within the property and casualty insurance sector. You will collaborate closely with internal teams, external auditors, and reinsurers to manage reinsurance contracts effectively and maintain compliance with regulatory standards.
Key Responsibilities:
Reinsurance Accounting: Oversee the accounting processes related to reinsurance transactions within the property and casualty insurance sector, including premium cessions, claims recoveries, and commissions.
Financial Reporting: Prepare and analyze financial reports specific to property and casualty reinsurance, ensuring accuracy and compliance with GAAP (Generally Accepted Accounting Principles) and regulatory requirements.
Reconciliation: Conduct thorough reconciliations of reinsurance accounts within the property and casualty segment, identifying and resolving discrepancies in a timely manner.
Contract Management: Review property and casualty reinsurance contracts to understand terms, conditions, and accounting implications. Ensure adherence to contract terms and compliance with regulatory requirements.
Risk Assessment: Assess the financial impact of property and casualty reinsurance arrangements on the company's risk profile. Provide insights and recommendations to senior management to mitigate risk and optimize reinsurance strategies.
Collaboration: Collaborate with internal stakeholders, including underwriting, claims, and finance teams within the property and casualty insurance sector, to facilitate seamless integration of reinsurance accounting processes with core business operations.
Audit Support: Assist external auditors in conducting audits of property and casualty reinsurance transactions and financial statements. Provide necessary documentation and explanations to support audit findings.
Process Improvement: Identify opportunities to streamline property and casualty reinsurance accounting processes, enhance efficiency, and strengthen controls. Implement best practices to optimize workflow and mitigate operational risks.
Compliance: Stay abreast of changes in accounting standards, regulations, and industry practices specific to property and casualty reinsurance accounting. Ensure compliance with regulatory requirements and internal policies.
Mentorship: Provide guidance and mentorship to junior staff members within the property and casualty insurance segment, fostering their professional development and enhancing the overall capabilities of the finance team.
Qualifications:
Bachelor's degree in Accounting, Finance, or a related field. CPA or equivalent certification preferred.
3 years of experience in reinsurance accounting within the property and casualty insurance industry.
Strong understanding of property and casualty reinsurance principles, including treaty and facultative arrangements.
Proficiency in accounting software and Microsoft Excel. Experience with reinsurance-specific software is a plus.
Excellent analytical skills with keen attention to detail.
Strong communication and interpersonal skills, with the ability to collaborate effectively across departments and with external partners within the property and casualty insurance sector.
Proven ability to manage multiple priorities in a fast-paced environment and meet tight deadlines.
Commitment to continuous learning and professional development.
