Senior Reinsurance Accountant

Description

Key Responsibilities

• Prepare and maintain accurate accounting records, journal entries, reconciliations, and financial reporting for quota share and excess of loss reinsurance programs. 
• Interpret reinsurance agreements and apply contract terms to accounting treatment, financial reporting, master data, and operational processes. 
• Support month-end, quarter-end, and year-end close activities, ensuring timely and accurate reporting. 
• Prepare and reconcile funds withheld balances, recoverables, commissions, settlements, premiums, and collateral-related activity. 
• Assist in monitoring collateral arrangements including trust accounts, letters of credit, and funds withheld balances while identifying potential deficiencies or exposure. 
• Analyze financial data, investigate variances, aged balances, settlement discrepancies, and data quality issues, providing recommendations for resolution. 
• Maintain reinsurance master data and support governance over contract information, system configuration, and reporting integrity. 
• Partner with Finance Systems and IT to support system enhancements, testing, automation initiatives, and process improvements. 
• Prepare documentation supporting accounting conclusions, reconciliations, internal controls, audit requests, and regulatory reporting. 
• Collaborate with Finance, Underwriting, Claims, Actuarial, Treasury, Legal, and Operations to ensure consistent application of contract terms and accounting policies. 
• Support internal and external audits, regulatory examinations, and rating agency requests. 
• Identify opportunities to strengthen controls, improve operational efficiency, and reduce manual processes. 
• Perform additional duties and special projects as assigned.

Skills & Experience

• Strong knowledge of reinsurance accounting principles, including quota share, excess of loss, recoverables, settlements, collateral management, and funds withheld arrangements. 
• Working knowledge of US GAAP and US STAT accounting requirements. 
• Ability to interpret complex reinsurance contracts and translate contractual terms into accounting and financial reporting requirements. 
• Strong analytical, reconciliation, and problem-solving skills with exceptional attention to detail. 
• Advanced Microsoft Excel skills and experience with ERP systems, sub-ledgers, reporting platforms, and reinsurance administration systems. 
• Excellent written and verbal communication skills with the ability to explain technical accounting concepts to both finance and non-finance stakeholders. 
• Strong organizational and project management skills with the ability to manage multiple priorities and meet deadlines. 
• Ability to maintain confidentiality and comply with compliance audits. 
• Ability to work independently while collaborating effectively across cross-functional teams. 
• Demonstrated commitment to continuous improvement, automation, and operational excellence.
• Ability to work in a fast-paced environment and multitask effectively under strict deadlines.
• Ability to work in the NY office up to 2 days a week.

• Minimum 5 years of progressive experience in reinsurance accounting, insurance finance, public accounting, or a related financial services environment. 
• Experience with assumed and/or ceded reinsurance accounting. 
• Experience interpreting reinsurance agreements and applying contract terms to accounting and financial reporting. 
• Experience with collateral management, funds withheld accounting, recoverables, and settlement accounting preferred. 
• Experience supporting financial audits, regulatory reporting, and internal control processes. 
• Experience working with insurance accounting systems, ERP platforms, financial reporting tools, and data reconciliation processes. 
• Experience within the insurance, reinsurance, MGA, fronting, or delegated authority marketplace preferred.
• Bachelor's degree in Accounting, Finance, or a related field required. Master’s degree is a plus.
• CPA designation or progress toward CPA (or equivalent professional accounting qualification) preferred.