Oliver James is currently supporting a rapidly growing managing general underwriter (MGU) specializing in a diverse range of insurance products, including transactional insurance, specialty casualty, management liability, professional liability, cyber, and reinsurance.
The Senior Reinsurance Accountant position represents a dynamic opportunity to contribute to a growing team, leveraging expertise in reinsurance accounting to ensure operational excellence and compliance.
This is a hybrid opportunity and compensation varies on candidate experience. The range of base salary is $80-$125k base + bonus potential.
Senior Reinsurance Accountant
Main Responsibilities:
- Manage all phases of reinsurance accounting and reporting, including treaty setup, quarterly and year-end technical result recording, and reconciliation of reinsurance transactions.
- Monitor and clear cash and receivable control accounts, resolving discrepancies and addressing unallocated cash promptly.
- Calculate and initiate settlements in compliance with reinsurance agreements, ensuring accurate technical bookings in line with applicable accounting standards (e.g., IFRS).
- Process and allocate premiums, claims, and brokerage payments, including adjustments for excess of loss and pro rata treaties.
- Coordinate with underwriters, finance, operations, and claims to gather necessary information and resolve discrepancies.
- Ensure timely and accurate reporting, collaborating with brokers to address gaps and ensure compliance with contractual terms.
- Maintain and enhance systems for organizing invoices, broker communications, and reconciliation processes to improve efficiency.
- Develop and implement procedures to reconcile system information with broker data, ensuring accuracy and compliance.
- Provide accounting support to internal teams such as Business Development, Actuarial, and Underwriting.
Data Analysis and Process Improvement:
- Analyze data to assess the financial impact of reinsurance agreements.
- Maintain and refine the internal control framework, suggesting process improvements where appropriate.
Position Requirements:
- Professional accounting designation (e.g., CA, CPA) with at least five years of relevant post-qualification experience in reinsurance accounting.
- Strong understanding of reinsurance structures, contracts, and the associated accounting principles.
- Proficiency with financial systems and tools, including Microsoft Office (Excel), SAP, and Power BI, with familiarity in reinsurance-focused systems being an asset.
- Demonstrated ability to develop and maintain successful relationships with brokers and internal stakeholders.
- Ability to work independently, solve problems, and develop procedures to address complex finance-related issues.
- Excellent organizational, time-management, and communication skills (both written and verbal).
- Keen attention to detail and ability to multi-task under pressure.
For more information, please apply using the prompts provided or reach out to Stephanie Hidalgo at Oliver James via stephanie.hidalgo@oliverjames.com
