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Reinsurance Accountant in Kennesaw, GA at Tokio Marine HCC

Date Posted: 5/30/2018

Job Snapshot

Job Description



Position Summary:



Under supervision, the Reinsurance Accountant is responsible for moderate accounting activities relating to the maintenance of a complete and accurate general ledger and the resultant managerial reports and financial statements for Reinsurance Accounting.

 



Key Responsibilities:

Relying on experience and knowledge, the Reinsurance Accountant is responsible for accomplishing the following assignments. These assignments are varied in nature.

  • Responsible for preparing various monthly reinsurance settlements across all HCC Specialty lines of business.
  • Responsible for working with accounts payable staff to insure payments for reinsurance settlements are done timely and accurately according to terms of the reinsurance contracts.
  • Work directly with and respond to inquiries from reinsurers/brokers.
  • Work with Accounting Manager and Director of Insurance Reporting to convert current process for reinsurance settlements to a more robust reinsurance system.
  • Assist in the reconciliation of the sub-ledger to the general ledger for reinsurer balances payable and paid loss recoverables.
  • Compile and analyze financial information to prepare various reports for management including but not limited to those regarding facultative, treaty and excess of loss coverage for reinsurance programs.
  • Interpret and input reinsurance agreements into financial system for use by underwriting, claims, compliance and accounting departments.
  • Assist in the preparation of quarterly Schedule F and various intergroup reporting on both a consolidated and company basis.
  • Work with Director of Insurance reporting to assume responsibility of performing portfolio transfers
  • Work with affiliated insurance companies to review requested Letters of Credit pertaining to unauthorized reinsurers as it relates to business underwritten by the Company.
  • Review forms and reports prepared by other team members for accuracy and completeness.  
  • Work with Director of Insurance Reporting to learn, understand and calculate certain reinsurer profit commissions.

 

Planning

  • Follow work plans, established timelines, and pre-defined goals for assigned work.
  • Meet commitments on deadlines. 
  • Communication
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  • Communicate activities, results, and observations with employees and management as appropriate.
  • Interact with external customers or clientsCost Management
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  • Identify areas for improvement in existing business practices.
  • Perform work thoroughly in a cost efficient manner and at a high productivity level.Business Controls and Policies

 

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  • Comply with all corporate policies and procedures.
  • Report any breakdowns in controls to management.
  • Conduct all activities in a safe manner. People Management
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  • No people management responsibility. 
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Position Knowledge, Skills, and Requirements:

Education

  • Bachelor’s degree in Accounting, Finance or a related field or the equivalent education and/or experience

 

Experience

  • Minimum of 4 years of relevant and progressive professional experience in reinsurance as well as accounting and/or finance
  • Experience with reinsurance systems, preferably ReAcct Systems Corporation (RSC)

 

Other

  • Possess and have ability to apply knowledge of principles, practices, and procedures
  • Solid written and verbal communication skills with an emphasis on confidentiality, tact, and diplomacy
  • Advanced organizational and analytical skills; demonstrated ability to manage multiple tasks simultaneously
  • Knowledgeable of industry changes, legal updates and technical developments related to applicable area of the Company’s business to proactively respond to changing business environment
  • Intermediate proficiency and experience using Microsoft Office Package (Excel, Access, PowerPoint, Word)

 

Working Conditions and Physical Demands:

  • Overtime hours may be required to fulfill job responsibilities
  • May require travel outside normal work location
  • May require a valid driver’s license
  • May be required to stoop, bend, or sit for extended periods of time
  • May be required to lift up to 10 pounds
  • Dexterity of hands and fingers to operate a computer keyboard, mouse, and other devices
  • Close vision and ability to adjust focus; required to read a computer screenNote: This document is intended to describe the general nature and level of work being performed, and is not to be construed as an exhaustive list of all responsibilities, duties and skills required for the job.
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Job Requirements

Skill Requirements

  • Basic understanding of Reinsurance and Risk Management is required.
  • Experience in the health insurance industry is a plus. This would include but not be limited to, Administrators, MGU’s, or Brokers.
  • Strong technical, analytical, mathematical, and accounting aptitude.
  • Ability to read, analyze, and interpret common technical journals and legal documents.
  • General Ledger experience required. PeopleSoft is a plus.
  • Intermediate proficiency and experience using MS Office Package, most specifically Excel.
  • Willingness to develop excellent working knowledge of reporting and processing systems.
  • Ability to prioritize multiple responsibilities.
  • Excellent interpersonal skills and ability to interact effectively and professionally with staff and management.
  • Educational requirements include undergraduate degree in Business or a minimum of 4 to 5 years accounting-related experience.