Senior Ceded Reinsurance Accounting Analyst
About The Position
The Senior Ceded Reinsurance Accounting Analyst is responsible for accurate ceded processing, accounting, analysis, and financial reporting for the ceded reinsurance portfolio. This hybrid role is based in Warren, New Jersey, with three days in the office and two remote. The position reports to the AVP, Ceded Reinsurance Accounting (North America). The analyst prepares ceded accounts and bordereaux, records ceded payables and recoverables, manages outstanding balance collection and settlement, and reconciles ceded reinsurance accounts to the general ledger. The role interprets complex reinsurance contracts, maintains treaty and facultative contract records in the ceded accounting system, and works with underwriting, claims, actuarial, reinsurance partners, and other functions to support accurate accounting and reporting. The position also supports quarterly and annual GAAP financial reporting, maintains Sarbanes-Oxley control documentation, advances process improvements, resolves complex accounting issues, and provides technical guidance to junior staff. The analyst may also assist with additional projects as assigned.
Requirements
- BS/BA degree in accounting, finance, or business.
- 4–6 years of finance/accounting experience.
- Strong understanding of ceded reinsurance accounting functions and principles.
- Strong knowledge of ceded reinsurance accounting principles and practices.
- Strong analytical skills and ability to collect, organize, analyze, and disseminate information with attention to detail and accuracy.
- Excellent PC skills, including proficiency in Microsoft Excel with PivotTables, VLOOKUPs, and advanced data analysis.
- Strong analytical, problem-solving, and technical accounting skills.
- Strong technical knowledge of general ledger and accounting systems.
- Strong organizational skills and ability to manage time and multitask in an ever-changing environment.
- Flexibility and responsiveness to change in a fast-paced environment, with ability to work on multiple projects simultaneously under tight deadlines.
- Ability to take initiative and work independently as well as within a team.
- Strong interpersonal, collaboration, oral communication, and written communication skills.
Nice To Haves
- Relevant experience in the Accounting Department of a property and casualty insurance or reinsurance company.
- Knowledge or experience with the Global XL Pro system.
- Knowledge of SQL.
- Experience with Oracle.
Responsibilities
- Lead timely preparation of ceded accounts and bordereau production, and record ceded payable and recoverable amounts for domestic operations.
- Manage collection and settlement of outstanding balances due to or from the company and oversee cash application processes.
- Conduct detailed reconciliation and comprehensive analysis of ceded reinsurance accounts to the general ledger.
- Review and interpret complex reinsurance contracts and facultative certificate terms, and provide guidance and subject matter expertise.
- Set up and maintain treaties and facultative reinsurance contracts in the ceded reinsurance accounting system.
- Liaise with underwriting, claims, and actuarial departments to support proper interpretation and recognition of complex reinsurance agreements.
- Support quarterly and annual financial reporting, analysis, and reconciliation of ceded reinsurance-related accounts for GAAP financial statement preparation.
- Assist in maintaining Sarbanes-Oxley internal control documentation and ensure department processes are functioning appropriately.
- Identify and drive process improvements to ceded reinsurance accounting systems and procedures.
- Work with various functional areas to resolve complex accounting issues and ensure timely and accurate reporting.
- Provide technical accounting support and guidance to junior staff on ceded reinsurance accounting matters.
- Coordinate with outside departments and reinsurance partners to ensure proper and timely reporting.
- Maintain positive relationships with reinsurance partners and appropriately represent the company.
- Assist with additional projects as assigned.
Benefits
- Health insurance coverage
- Employee wellness program
- Life and disability insurance
- 401(k) match
- Retirement savings plan
- Paid holidays
- Paid time off (PTO)
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What This Job Offers
Job Type
Full-time
Career Level
Senior
