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Reinsurance Accountant

Posted on Aug 11, 2019 by ICW Group

San Diego, CA 92101
Accountancy
Immediate Start
Annual Salary
Full-Time

ICW Group is looking for a Reinsurance Accountant to oversee reinsurance transactions in support of the company's financial growth goals. The is new role within our company and a great opportunity to join our growing organization!

ABOUT YOUR JOB:

Manage records of reinsurance transactions and handles the related receivables and payables

  • Prepares and monitors the recoverable aging report
  • Interacts with reinsurance brokers and reinsurance companies
  • Works with the claims department, brokers and reinsurance companies to resolve disputed items
  • Processes Unclaimed Property
  • Reviews reinsurance contracts/agreements
  • Audits of past reinsurance files for accuracy and completeness
  • Serves as a backup resource for the Investment Accountant and Accounting Manager as needed

Creates financial statements and reports

  • Prepares ad-hoc reinsurance reports as required by management
  • Assists in the preparation of Quarterly and Annual Statement Schedule F
  • Updates and reconciles all reinsurance related General Ledger accounts
  • Calculates and records quarterly adjustments, such as commuted treaties reserve adjustment reinsurance reserve and uploads changes in ceded reinsurance reserves into SAP

Calculates and records all ceded premium transactions

  • Prepares ceded premium statements and bordereau
  • Pays ceded payables and calculating the annual premium adjustments
  • Calculates and records ceded premium/commission transactions per reinsurance contracts specifications
  • Audits and reconciles the ceded loss transactions entered in the system for accuracy, completeness and compliance with reinsurance contract specifications
  • Collects ceded paid losses/loss expense recoverables
  • Calculates and records all ceded premium transactions

EDUCATION AND EXPERIENCE:

Bachelors degree (B.A.) in Accounting, Finance or related field or equivalent from four-year college or technical school; or equivalent combination of education and experience. 3+ years of professional level experience working in an accounting role preferably in the insurance industry. Advanced knowledge of computer applications related to accounting and financial management systems. Requires advanced knowledge of Accounting theory and principles, as well as advanced analytical and quantitative skills.

KNOWLEDGE AND SKILLS:

Comprehensive knowledge of Generally Accepted Accounting Principles and Practices (GAAP) and Financial Accounting Standards (FASB) regulations. Proven ability to communicate effectively both orally and in writing and to interact effectively with management, employees, representatives of federal and state governments and external auditors. Musts have ability to convey complex financial issues to non-financial users. Ability to work independently and meet stringent deadlines. Ability to collect, analyze and summarize data and prepare clear, concise financial reports for complex accounting concepts. Ability to design and produce ad-hoc reports. Advanced skills in Microsoft Office Suite applications.

PHYSICAL REQUIREMENTS

Office environment no specific or unusual physical or environmental demands and employees are regularly required to sit, walk, stand, talk and hear.

COMPETENCY LEVEL

This position maps to the Individual Contributor level

ADDITIONAL COMPETENCY REQUIRED

None

WORK ENVIRONMENT

The position operates in an office environment and requires the frequent use of a computer, telephone, copier and other standard office equipment.

Reference: 744306598

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