Senior Reinsurance Accountant

Senior Reinsurance Accountant

Job Locations

US-NJ-Jersey City | US-TX-Dallas | US-NJ-Jersey City

Requisition ID

JR1004279

Category

Accounting

Position Type

Regular Full-Time

Overview

The Senior Reinsurance Accountant III is a motivated, experienced and independent thinker who plays a critical role in supporting the accounting and operations of AmTrust Financial Service's Reinsurance cycle (supports reinsurance quote submissions, broker billing / collections, reinsurance bordereau, reinsurance accounting and reporting of reinsurance balances). The role interacts with our finance leadership team, underwriting, claims and actuarial departments to ensure the proper interpretation and recognition of complex reinsurance agreements. This is a great opportunity to be part of an exciting fortune 500 organization that is growing and at the same time transforming its accounting and reinsurance platforms to meet the needs of a global organization.

This position will be worked hybrid on-site (Monday and Friday remote, Tuesday, Wednesday, and Thursday in office) at any of the following AmTrust locations : Jersey City, NJ; Southington, CT; or Dallas, TX.

The salary range for this role is $92,000 - 125,000 annually.

Please note that the salary information shown above is a general guideline only. Salaries are based upon a wide range of factors considered in making the compensation decision, including, but not limited to, candidate skills, experience, education and training, the scope and responsibilities of the role, as well as market and business considerations.

Responsibilities

Prepare and / or review inward (assumed) and / or outward (ceded) day to day reinsurance ledger transactions, including preparation of supporting schedules, including the Cession Statements and Bordereaux; ensuring the journal entries and supporting reinsurance system closings track with the department's close calendar

• Work with external business partners (Brokers / Reinsurers / Agencies) is settling open recoverable / payable reinsurance balances; including, ensuring settled balances agree with cession statements and are timely collected. The work also involves working with brokers on collateral requirements and clearing open balances by applying received receipts against the companies Oracle Accounts Receivable (AR-SLA) sub-ledger
• Prepare and / or review the quarterly and annual U.S. GAAP financial reports for reinsurance balances and disclosures. Also, participate in the preparation of the various U.S. Statutory (STAT) Schedule F filings, for assigned AmTrust entities
• Participate in the implementation of Complex Insurance and / or Reinsurance accounting transactions, at the direction of management; can involve documenting the Statement of Operating Procedures (SOP) for the transaction
• Prepare analytics, at the direction of management, to support variance explanations for reinsurance balances or for selected reinsurance programs. The analytics need to explain the drivers causing the movement in the balances and / or insurance industry ratios
• Prepare and / or review balance sheet account reconciliations for assigned reinsurance balances; this includes supporting the account reconciliation at the appropriate coding level and ensuring the GL balance agrees to the Sub-ledger. Also, identifying timing differences and non-timing differences, for which a remediation plan is to be put in place
• Support the reinsurance team adherence to the company's framework of internal controls by driving the design and execution of reinsurance related SOX controls, including those found in the reinsurance teams Risk Control Matrix (RCM). Work with external and internal auditors, as requested by management, in testing the controls and in providing documentation to the auditors in supports of the control.
• Work on System Enhancement projects and / or tasks related to advancing the AmTrust Reinsurance process. This can entail participating in new system implementation, including user acceptance testing, and / or validation of go live balances against expected results.

Qualifications

Hard Skills :

Soft Skills :

What We Offer

AmTrust Financial Services offers a competitive compensation package and excellent career advancement opportunities. Our benefits include : Medical & Dental Plans, Life Insurance, including eligible spouses & children, Health Care Flexible Spending, Dependent Care, 401k Savings Plans, Paid Time Off.

AmTrust strives to create a diverse and inclusive culture where thoughts and ideas of all employees are appreciated and respected. This concept encompasses but is not limited to human differences with regard to race, ethnicity, gender, sexual orientation, culture, religion or disabilities.

AmTrust values excellence and recognizes that by embracing the diverse backgrounds, skills, and perspectives of its workforce, it will sustain a competitive advantage and remain an employer of choice. Diversity is a business imperative, enabling us to attract, retain and develop the best talent available. We see diversity as more than just policies and practices. It is an integral part of who we are as a company, how we operate and how we see our future.

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