Jr. Reinsurance Accountant
About The Position
Join Starr, a global leader in commercial insurance with over a century of expertise. We empower our employees to innovate, make impactful decisions, and build lasting client relationships worldwide. At Starr, you'll work in an entrepreneurial culture alongside accessible leaders, leveraging our financial strength and vast industry experience to deliver solutions for our clients, no matter how complex. Grow your career with a rapidly growing company that invests in its people and their ability to drive real progress. The Jr. Reinsurance Accountant will work within the reinsurance accounting department to support our team, focusing on the Multinational business, processing facultative and treaty reinsurance accounts, processing the incoming and outgoing cash, as well as performing reporting and reconciliation activities. This role involves the processing of assumed and ceded reinsurance accounts. Perform Reinsurance Accounting operational duties as needed/required.
Requirements
- Bachelor’s degree in accounting, finance or related.
- 0-3 years work experience preferably in accounting, finance or related.
- High attention to detail, precise
- Analytical skills, solutions-oriented mindset
- Ability to multi-task, organized, with a good sense of priorities
- Good knowledge of MS Office: Excel, Word, etc
- Basic knowledge of insurance/reinsurance.
Nice To Haves
- Experience handling cash/settlements, and recoveries is preferred
- Experience with reinsurance systems and platforms (e.g., RMS, SICS, ProCede or similar) is a plus.
Responsibilities
- Review and record facultative and treaty accounts, including premium, commission, taxes, etc. for assumed and ceded reinsurance.
- Book assumed accounts and produce the ceded bdx to the reinsurance panel, create the journal entries ensuring correct and timely general ledger postings.
- Monitor and allocate the incoming cash.
- Create the outgoing payments.
- Maintain and apply cash for facultative and treaty reinsurance contracts.
- Process the settlement of ceded premium, and the billing and recovery of ceded facultative reinsurance.
- Perform general ledger reconciliations in a timely and accurate manner.
- Follow up on cash collection and process disbursements.
- Investigate and follow up discrepancies until resolution.
- Participate in ad-hoc projects/initiatives.
Benefits
- first class training and development opportunities
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
