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AIG · 2 months ago

Senior Manager, Reinsurance Accounting

CT-Wilton

Full-time

Onsite

Mid, Senior Level

$128K/yr - $160K/yr

7+ years exp

AIG is a global leader in commercial and personal insurance solutions, and they are seeking a Senior Manager for their Reinsurance Accounting team. This role is responsible for managing financial and operational controlling activities associated with complex external reinsurance programs, ensuring accurate accounting and robust internal controls.

BankingFinancial ServicesInsurance

Responsibilities

Manage execution of key accounting and operational controlling requirements associated with a prominent, bespoke third-party program with a Lloyds reinsurer, including but not limited to:

+ Timely identification and billing of eligible XOL recoveries

+ Calculation and accounting for ceding commissions

+ Coordination with Reinsurance Collection group on issuance of statement of accounts to brokers

+ Prepare summary of the program for review and presentation to leadership

+ Provide analytical insight into activity in the reporting period

Manage the financial and operational accounting for global catastrophe reinsurance programs under a range of contractual structures and across all open contract years, preparing statements of account and ensuring timely settlements in conjunction with global Treasury operations

Ensure timely identification and responsiveness to accounting for less structured or predictable transactions, including cash calls on external reinsurance, reinstatement premiums on current and prior years’ loss activity, recording and applying cash on retrospectively rated reinsurance contracts, etc

Global oversight of Travel Reinsurance activity in support of strategic initiatives related to the book of business, including general ledger oversight, coordination with Reinsurance collection on billing and cash application

Support the audit process with external and internal auditors

Qualification

Reinsurance operationsTechnical accounting expertiseCPA certificationFinancial reportingTeam leadershipInterpersonal skillsCommunication skillsAttention to detailAdaptability

Required

Bachelor's degree in accounting required, CPA preferred

Minimum of 7 years of relevant professional experience, particularly leading teams in a controller capacity for a public P&C insurance company

Advanced knowledge of reinsurance operations, including underwriting, claims, accounting, finance and associated process, controls and systems; re/insurance-relevant professional designation a plus (ARe, CPCU, etc.)

Strong insurance-technical accounting expertise, possessing a comprehensive understanding of inter-relationships between balance sheet and income statement, with 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 leveraging 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

Benefits

A range of competitive 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