Supervisory Accountant, Reinsurance

AIG • Parsippany, NJ

2d • $89,000 - $112,000 • Onsite

About The Position

The Supervisory Accountant, Reinsurance, is a key member of AIG’s Reinsurance Controllership team ensuring accurate accounting, robust internal controls and timely financial reporting for AIG’s reinsurance programs. Reporting to the Manager, External Reinsurance, this role is primarily responsible for execution of financial and operational controlling activities associated with administration of external excess of loss and quota share reinsurance programs and involves direct engagement with an extensive offshore platform. Success in this role will require an ability to accurately and timely process reinsurance related activities in the sub-ledger/general ledger to meet monthly close deadlines, demonstrate an appropriate level of understanding of assigned reinsurance programs, and clearly and effectively respond to inquiries from management.

Requirements

• Bachelor’s degree in accounting required, CPA preferred
• Minimum of 3 years of accounting and/or financial reporting experience with knowledge of reinsurance
• Knowledge of reinsurance operations, including underwriting, claims, accounting, finance and associated process, controls and systems
• Insurance-technical accounting expertise, with an understanding of inter-relationships between balance sheet and income statement, and an ability to analyze results accordingly
• Industry business acumen along with a clear understanding and awareness of global macroeconomic and other relevant factors impacting the business that manifest in financial results
• Experienced in collaborating with a combination of onshore and offshore management and staff resources on a global basis, maximizing the benefits of time zone differences to enhance productivity
• Strong interpersonal skills and an ability to communicate and collaborate effectively with individuals across Finance and operational disciplines towards a common purpose; commercially oriented, carrying credibility with a business unit and broader Finance organization
• Systems-technical acumen, able to quickly grasp management reporting structures, understand a newly transformed finance architecture and financial reporting platform, and determine how to extract maximum value in execution of the financial close
• Strong attention to detail, where accuracy and precision are critical to success, yet possessing an ability to step back and appreciate broader objectives around effective communication and the inter-relationship across finance and operations teams
• Able to operate successfully and thrive in a dynamic, transformational environment, where change is embraced and viewed as an opportunity for one’s own professional development and to drive process improvement for the team and broader organization

Nice To Haves

• CPA preferred

Responsibilities

• Coordinating excess of loss and quota share cessions and/or related premium adjustments on numerous reinsurance programs across multiple lines of business, including but not limited to:
• Perform allocations of deposit premiums on excess of loss contracts at a detailed code block level
• Creating/reviewing journal entries on a monthly basis
• Calculation of premium adjustments
• Coordinating with Reinsurance Collections on settlements and cash application
• Performing reviews in compliance with SOX controls
• Support responses to reinsurer inquiries by performing research and analysis
• Supporting CFO and FP&A teams in answering questions on reinsurance activities for specific reinsurance programs
• Monthly processing of assumed reinsurance programs based on SOA, including any applicable retrocessions
• Review of Schedule F Part 3 for recoverable, payable and funds held balances related to reinsurance programs

Benefits

• In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits
• At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our 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—to bring peace of mind to you and your family.

What This Job Offers

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