Junior Reinsurance Accountant

Starr Insurance•New York, NY

6d•$65,000 - $95,000

About The Position

Starr is seeking a Junior Reinsurance Accountant to support facultative premium handling, reinsurance account processing, reporting, and reconciliation activities. The role also supports oversight and guidance for processing units or centers handling assigned clients, accounts, or processes; provides guidance on reinsurance accounting matters; and authorizes or escalates financial transactions and payments in accordance with the authority matrix. The position escalates issues to management or senior management, handles internal and external client relationships as assigned, and helps processing units or centers meet operational and financial targets. Reinsurance accounting operational duties are performed as needed. The role works with Operations, reinsurance services, and business units to book and pay ceded facultative reinsurance premiums, follow up on cash collections, disburse payments, and maintain data integrity through reconciliations. It also includes quarterly reporting to brokers and reinsurance markets, ad hoc reporting, and participation in projects and initiatives. Starr describes its culture as entrepreneurial, with accessible leaders, opportunities to innovate and make impactful decisions, and training and development opportunities. The company states that it is committed to an inclusive environment and recruits and develops employees based on merit.

Requirements

Bachelor's degree.
0–5 years of relevant insurance or reinsurance accounting experience.
Strong analytical, problem-solving, and troubleshooting abilities, with high attention to detail.
Clear and concise written and verbal communication skills.
Adaptable, solutions-oriented mindset with a focus on continuous improvement.
Ability to work in a fast-paced environment and adapt to and implement changes.
Ability to work as a team player while demonstrating leadership traits to guide processing units or centers.
Proficiency with Microsoft Office; Excel skills are required.

Nice To Haves

A degree in business, accounting, finance, or a related field.
Knowledge of reinsurance accounting principles, practices, and regulations.
Experience across ceded programs such as quota share, excess of loss, and facultative; cash and settlements; and recoveries.
Experience with reinsurance administration platforms such as SICS, Pro, XL Pro, Pro Cede Reinsurance Master, or similar.

Responsibilities

Produce quarterly reports for assigned accounts for brokers and reinsurance markets.
Support facultative premium processing and payments.
Provide guidance to processing units or centers for assigned clients, accounts, or processes.
Follow up on cash collection and disburse payments.
Register, allocate, and apply cash in the relevant systems and control files.
Coordinate with Operations, reinsurance services, and business units to book and pay ceded facultative reinsurance premiums.
Maintain data integrity by reconciling reinsurance systems, the General Ledger, financial systems, and bank accounts.
Participate in projects and initiatives.
Run ad hoc reports as needed.
Support oversight of processing units or centers and help steer them toward operational and financial targets.
Provide guidance on reinsurance accounting matters and authorize or escalate financial transactions and payments in accordance with the authority matrix.
Escalate issues to management or senior management.
Handle internal and external client relationships as assigned.
Perform reinsurance accounting operational duties as needed.