Reinsurance Accountant

AIG • Río Piedras, PR

1d • Onsite

About The Position

Reinsurance Accountant At AIG, we are reimagining the way we help customers to manage risk. Join us as a Reinsurance Accountant to play your part in that transformation. It’s an opportunity to grow your skills and experience as a valued member of the team. Make your mark in Finance Our Finance team plays an essential role in maintaining a healthy balance sheet at AIG. It delivers significant finance support for the overall enterprise, optimizing operations, controllership, funding, and capital structure to honor our stakeholder commitments. The team’s work is invaluable to informing leadership decision making, complying with regulatory requirements, and maintaining financial discipline, transparency, and controls, while providing timely and meaningful information.

Requirements

• Bachelor’s degree in accounting, finance or a related business field is required.
• This role is for candidates with experience in job-related tasks and within the Property and Casualty insurance or reinsurance sector.
• Proven experience in supporting the preparation of Schedule F and navigating Puerto Rico OCS filing requirements.
• Advanced proficiency in MS Excel (VLOOKUPs, pivot tables, complex data manipulation) and familiarity with accounting system SAP.
• Skills to effectively interact with all levels of staff and management.
• Strong communication skills to effectively manage relationships with international reinsurers, brokers, and local regulatory bodies.
• Time management, customer service and attention to details skills.
• Fully bilingual in English and Spanish (written and verbal) is required for interacting with local regulators and global reinsurance partners.
• Analytical and problem-solving capabilities to be able to identify trends, investigate discrepancies in broker statements, and interpret reinsurance contract wording.
• Ability to multitask with a variety of systems and processes.

Responsibilities

• Monitor, calculate and bill reinsurance claims (loss recoverable).
• Actively pursue collections from reinsurers and resolve billing disputes in a timely manner.
• Calculate, verify, and process premium payments due to reinsurers based on treaty and facultative contract terms.
• Reconcile assumed and ceded premium, commission, and loss accounts against reinsurance ledgers and broker statements
• Prepare journal entries, monthly financial statements inputs, and variance analysis related to reinsurance assets, liabilities, and income items.
• Lead the preparation, verification, and filing of Schedule F, ensuring accurate calculation of unauthorized reinsurance penalties, provision of reinsurance, and additional requirements.
• Compile and submit mandatory financial reports required by the Office of the Commissioner of Insurance of Puerto Rico (OCS), ensuring alignment with both US GAAP and Statutory Accounting Principles (SAP).
• Assists internal and external auditors during annual financial audits and OCS regulatory examinations by providing necessary schedules, reconciliations, and contract documentation of reinsurance programs in place.
• Monitor reinsurance contract terms and conditions to ensure accounting treatments match specific treaty triggers and clauses.
• Maintain robust internal controls over reinsurance processes in compliance with Company’s control framework.
• Any other additional/related job responsibilities required by AIG to support the Department and the Company.

Benefits

• Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level