Ceded Reinsurance Sr. Accountant

Berkley • Greenwich, CT

128d

About The Position

The Manager of Ceded Reinsurance Operations is responsible for overseeing the end-to-end operational and accounting processes related to the company's ceded reinsurance portfolio. This role ensures the integrity of financial data, supports strategic reinsurance initiatives, and leads a team of professionals in executing accurate and timely processing of reinsurance transactions. The ideal candidate will bring deep technical knowledge of ceded reinsurance, strong leadership capabilities, and a continuous improvement mindset.

Requirements

• Minimum 5 years of experience, with at least 1-2 years in a leadership or supervisory role.
• Ceded reinsurance experience is a plus.
• Strong understanding of reinsurance accounting concepts and ability to understand and interpret reinsurance contracts.
• Deep understanding of reinsurance structures (quota share, excess of loss, facultative, etc.).
• Effective communication skills for addressing issues with subsidiary CFO's, controllers, other accounting personnel and reinsurance department personnel.
• Advanced Excel skills, experience with Reinsurance Source Systems, PeopleSoft a plus.
• Exposure to automation tools (e.g., Power BI, RPA) is a plus.
• Highly motivated team player with good written and verbal communication skills.

Nice To Haves

• Master's in computer science or insurance certification.

Responsibilities

• Maintain and enhance the ceded reinsurance source system, ensuring data integrity and alignment with general ledger and sub-ledger systems.
• Lead and support the Data Warehouse team in developing out ceded reinsurance solutions.
• Provide recommendations on upstream data fixes on a case-by-case basis for operating units to review, approve and implement.
• Review, understand and interpret complex reinsurance treaties, converting them into application specifications and contracts.
• Monitor treaty compliance and ensure adherence to contractual terms and regulatory requirements.
• Assist in transformation, change project and implementation.
• Partner with IT and Finance to implement system upgrades, automation tools, and reporting enhancements.
• Develop and maintain documentation for operational processes, controls, and system workflows.
• Book and close Ceded Reinsurance Source System accounting, execution of contracts, processing of invoices, and recovery of reinsured losses.
• Process months end close for multiple business units in source system and general ledger.
• Ensure accurate and timely recording of ceded premiums, losses, and recoverable.
• Oversee cash application and reconciliation of reinsurance recoverable and payables.
• Assist in the calculation of adjustable features, including contingent and sliding scale commissions, on reinsurance programs.
• Verify that adjustments comply with the reinsurance contracts.
• Assist in inquiries from Corporate Finance, actuarial, underwriting and Insurance Risk Management (IRM) team.
• Communicate and train the offshore team and ensure quality and accuracy of deliverables.
• Assist and review in preparation of regulatory reports, experience in Sch F, P, Broker billing and invoicing and Collateral process.
• Support ad hoc activities/projects.

Benefits

• Equal employment opportunity employer.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Administrative and Support Services
• Education Level: Bachelor's degree