Sr Reinsurance Accountant
About The Position
UFG is hiring an Sr. Reinsurance Accountant who will be responsible for the accurate accounting, reporting, and analysis of the company's reinsurance transactions. This role ensures that all ceded and assumed reinsurance activity is properly recorded in accordance with GAAP and statutory accounting principles while maintaining data integrity across subledger and financial reporting systems. Working closely with Finance leadership, Actuarial, and Reinsurance Operations, the Senior Reinsurance Accountant provides technical support on treaty structures, cash settlements, and reconciliations. This individual also assists in implementing process improvements, strengthening internal controls, and supporting both external and internal audit requests. The ideal candidate demonstrates strong analytical skills, a deep understanding of reinsurance accounting practices, and the ability to work both independently and collaboratively in a complex insurance environment.
Requirements
- Bachelor’s degree in accounting or finance required.
- 3–6 years of reinsurance or insurance accounting experience
- Strong understanding of GAAP and statutory principles.
- Strong analytical and problem-solving skills with attention to accuracy and detail.
- Proficiency with Microsoft Excel; experience with financial systems or reinsurance subledgers desirable.
- Excellent communication and collaboration skills across cross-functional teams.
- Ability to manage multiple priorities, meet deadlines, and work effectively in a dynamic environment.
Nice To Haves
- Certified Public Accountant (CPA) or progress toward certification preferred.
- Prior experience within property and casualty insurance, preferred
Responsibilities
- Prepare and review ceded and assumed reinsurance journal entries, reconciliations, and supporting schedules for monthly, quarterly, and annual closings.
- Assist with the preparation of reinsurance-related financial statement disclosures, statutory schedules, and management reports.
- Analyze reinsurance results and variances, providing insights and explanations to management.
- Review treaty terms and documentation to ensure proper accounting treatment (i.e., GAAP, statutory accounting principles) and alignment with company policies.
- Collaborate with business partners across actuarial, underwriting, claims, and finance to resolve discrepancies and ensure data integrity.
- Support cash settlement processes, including billing, collections, and reconciliations of reinsurance receivables and payables.
- Maintain SOX-compliant documentation, ensuring adherence to company policies and internal control requirements.
- Assist with audit requests, including internal controls and testing evidence.
- Participate in continuous improvement initiatives aimed at optimizing processes, standardizing reporting, and automating data flow.
- Mentor other team members by sharing knowledge and modeling best practices in reinsurance accounting and reporting.
- Support system enhancements and testing related to reinsurance accounting or financial reporting applications.
- Support broader Finance transformation initiatives aimed at modernizing systems and standardizing financial processes.
Benefits
- Annual incentive compensation
- Medical, dental, vision & life insurance
- Accident, critical Illness & short-term disability insurance
- Retirement plans with employer contributions
- Generous time-off program
- Programs designed to support the employee well-being and financial security.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
