Senior Assumed Reinsurance Accountant

As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.
S.
, U.
K.
, Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people.
At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry.
As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world.
Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.
Job Description We are seeking a Senior Assumed Reinsurance Accountant position to join our Assumed Reinsurance team in the New York area.
The Assumed Reinsurance team works within the Reinsurance Operations team and the position reports to an Assumed Reinsurance Accounting Supervisor.
The position is located in our New York area office.
Core Position Objectives: Provide Inward proportional treaty & non-proportional treaty management & account processing Oversight of various reinsurance accounts for the Assumed Reinsurance Accounting (ARA) department Technical accounting reconciliations Financial & business compliance Main areas of responsibility: Handling reinsurance accounting responsibilities for reinsurance business.
Including but not limited to, analyze, identify and maintain accurate treaty accounts.
This includes handling Contingent Commissions, Sliding Scale Commissions, Retrospective Rate Adjustments and Premium Adjustments and processing accounts, ensuring data captured is accurate and within agreed timeframes.
Manage treaties which include processing and preparing accounts as well as analyzing statistics within agreed time frames.
Ensure data quality/contract setup in reinsurance systems.
Undertake technical analysis and processing responsibilities incorporating complex inward proportional & non-proportional treaties.
Prepare/Handle and Manage variety of Reports: .
Production and analysis of monthly and quarterly reports as part of the close process, including identification of anomalies and resolution (where possible).
Review and check accuracy of closing/documents of rendered accounts, cash calls, premium and loss reserve deposits.
Coordinate and collaborate with internal and external clients (Underwriters, brokers, cedants, claims, IT, operations, finance and credit control) to resolve queries or technical issues to facilitate timely and accurate processing of account.
Collaborate with our cash department regarding overdue balances to reduce Accounts Receivables as well as assist in managing receivables and suspense amounts.
Collaborate and provide back-up support for accounts processed and interact with claims department, including event tracking, to ensure that claims in reference to specific brokers are processed.
Participate to provide audit requests on a timely basis.
Assist in various project as deemed appropriate by management.
Qualifications, Skills and Experience: Bachelor’s degree in Accounting, Finance or Business related field.
Industry designations a plus (i.
e.
ARe, AINS).
Understanding of insurance and reinsurance principles is preferred.
Knowledge of property, casualty and marine business classes is preferred Understanding of Genius and SAP Accounting systems is preferred Minimum 5 years of reinsurance accounting (inward reinsurance market).
Understanding & review profit commission/sliding scale calculations is preferred Understanding of proportional treaty claim handling and event claims is essential Experience of month end report checks is desirable Experience of oversight/peer review is desirable Ability to learn and adapt in a dynamic environment Strong verbal and written communication skills Ability and confidence to challenge existing procedures & use of system Detailed oriented and strong problem solver with analytical abilities Demonstrated positive attitude and works well within a Team environment Strong computer skills – knowledge of Microsoft Excel Pivot Tables, V-Lookups, and MS PowerPoint preferred and knowledge of Imageright preferred.
Demonstrated customer service orientation Ability and desire to train and mentor more junior staff Salary Range: $80,000– $125,000 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.
At Sompo International, we recognize that the talent, skills, and commitment of our employees drive our success.
This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms.
The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents.
Below is a summary of our current comprehensive U.
S.
benefit programs: Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution.
Pharmacy benefits with mail order options.
Dental benefits including orthodontia benefits for adults and children.
Vision benefits.
Health Care & Dependent Care Flexible Spending Accounts.
Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children.
Company-paid Disability benefits with very competitive salary continuation payments.
401(k) Retirement Savings Plan with competitive employer contributions.
Competitive paid-time-off programs, including company-paid holidays.
Competitive Parental Leave Benefits & Adoption Assistance program Employee Assistance Program Tax-Free Commuter Benefit Tuition Reimbursement & Professional Qualification benefits.
Sompo International is an equal opportunity employer committed to a diverse workforce.
M/F/D/V Visit our website at www.
sompo-intl.
com