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Reinsurance Accountant

Wakefield, MA 01880

Posted: 09/09/2022 Employment Type: Direct Hire/Perm Job Category: Accounting & Finance Job Number: 503621 Is job remote?: No Country: United States

Job Description


Under  supervision of the Reinsurance Accounting Manager, the Reinsurance Accountant  will  perform intermediate reinsurance and accounting activities relating to management of gross and ceded reinsurance balances, maintenance of general ledger accounts, and preservation of accuracy within the reinsurance and financials systems.

Performance Objectives:

Within the first 30 days, become familiar with our  business, programs we use (PeopleSoft, RSC, AS400), and the daily operations of the agency as it relates to reinsurance accounting and reporting.

Within the first 60 days, become adapt to using our accounting and reinsurance systems for tasks designated by the Reinsurance Accounting Manager. Learn to facilitate and report reinsurance settlements for both premiums and claims.  Respond to inquiries from reinsurers/brokers concerning settlements,  claims, and  collections and coordinate responses from the various departments.

Within the first 90 days,  assist in the month-end closing of business lines within both the reinsurance and the general ledger systems.  Set up  treaties (reinsurance contracts)  in the reinsurance system.  Analyze accounting information to prepare and post entries to general ledger accounts and to document business transactions as it relates to reinsurance activities.

Ongoing, prepare general ledger account reconciliations related to reinsurance activity and log into account reconciliation tool.  Assist in the interaction with internal and external auditors, as necessary for reinsurance matters.  Proactively detect, research, and resolve reconciliation items as they relate to reinsurer balances.  Prepare various ad hoc reports using advanced Excel  skills.

Qualifications:

The ideal candidate would bring with them 3  years of relevant accounting experience along with:
  • Bachelor’s degree in Accounting, Finance, a related field, or the equivalent education and/or experience
  • PeopleSoft and RSC experience preferred
  • Solid understanding of reinsurance principles and the accounting relationship
  • Understanding of the general applications of a reinsurance system
  • Excellent written and verbal communications skills
  • Exceptional organizational and analytical skills; demonstrated ability to manage multiple tasks simultaneously
  • Intermediate proficiency using Microsoft Office
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