Sr. Reinsurance Accountant

Starr Insurance Companies • $90K — $130K *

New York, NY 10025In-Person

Finance & Insurance

5 - 7 years of experience

3 weeks ago

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Job Overview by Ladders

Qualifications

7+ years of experience in accounting within the re/insurance industry.
Bachelor’s degree in accounting, finance, economics, or related field preferred.
Experience with assumed and ceded reinsurance is preferable.
CPA or equivalent certification is preferred.
Strong financial reporting experience.
Strong analytical mindset and problem-solving abilities.
Proficiency in accounting software and MS Office, particularly Excel.
Excellent communication skills for presenting financial insights to leadership.

Responsibilities

Ensure processing and posting of reinsurance ledger transactions from brokers and reinsurers.
Prepare, review, and ensure accuracy of journal entries and general ledger maintenance.
Manage reinsurance settlements, recoverable/payable balances, and cash allocations.
Perform and monitor accounts and bank reconciliations, including aged balances.
Support month/quarter/year-end closing processes.
Manage financial reporting processes for compliance and accuracy.
Prepare and review financial statements for compliance and completeness.
Provide guidance on reinsurance accounting policies and procedures for statutory compliance.
Support internal and external audit processes.
Drive automation, reporting enhancements, and system implementations.
Identify process improvements in reinsurance accounting and lead enhancement initiatives.
Participate in special projects and strategic initiatives, supporting the team and mentoring fellow accountants.

Benefits

Opportunity for professional development and mentorship.
Engagement in special projects and strategic initiatives.
Participation in system upgrades and implementations.
Collaborative work environment with senior leadership.
Focus on improving processes and automation.

Full Job Description

Position Summary: This role combines technical/financial reinsurance accounting expertise with analytics focusing on accurate and timely processing, compliance and reporting of the multinational reinsurance transactions to maintain financial records for both assumed and ceded ensuring compliance with accounting standards, regulations and controls. The

Key Duties and Responsibilities:

Ensure the processing and posting of reinsurance ledger transactions for Assumed and Ceded from brokers, reinsurers and ceding companies.
Prepare, review and ensure accuracy of journal entries and general ledger maintenance.
Manage reinsurance settlements, open recoverable/payable balances and unallocated/unsettled cash.
Perform and monitor accounts and bank reconciliations, and aged balances.
Support in managing the month/quarter/year-end clos processes.
Manage financial reporting processes to ensure compliance with regulations and provide accurate information to the senior leadership and executive team.
Prepare and review financial statements to ensure accuracy, completeness and compliance with accounting standards.
Provide guidance on reinsurance accounting policies and procedures, to ensure compliance with statutory accounting, regulatory requirements and internal controls.
Support internal and external audits.
Support automation, reporting enhancements, and system implementations.
Identify process improvements and lead initiatives to streamline reinsurance accounting.
Participate in special projects, system upgrades/implementations and strategic initiatives.
Support the reinsurance accountants, mentor and train team members, promoting professional development.

Skills and Qualifications:

7+ years of experience in accounting within the re/insurance industry.
Bachelor’s degree in accounting, finance, economics or related field preferred.
Experience with assumed and ceded reinsurance is preferable.
CPA or equivalent certification is preferred.
Strong financial reporting experience.
Strong analytical mindset, problem-solving abilities.
Proficiency in accounting software, MS Office: Excel, etc.
Excellent skills to communicate financial insights to senior leadership/executive team.

About Starr Insurance Companies

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There has never been a better time to join the global team of Starr Insurance Companies—the leading provider of insurance and investment solutions worldwide.

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Join Starr Insurance Companies' top-tier team to assist some of the most prestigious clients in navigating their risk management and insurance strategies. Transform the approach to global insurance solutions with the brightest minds at Starr Insurance Companies. This is where innovation meets industry expertise in a dynamic environment. Lead from a unique position in the marketplace, at the crossroads of deep industry knowledge and extensive insurance innovation. Engage with a worldwide network of professionals dedicated to redefining the future of insurance and risk management. Collaborate with a diverse and inclusive team, fostering a culture of professional growth and diversity training.

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