Senior Reinsurance Accountant
Senior Reinsurance Accountant
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Job Description
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Were looking for someone who has these abilities and skills:
Required Skills and Abilities:
- Bachelors Degree in business finance accounting or a related area
- Moderate to extensive reinsurance accounting experience required
- Experience in Finance and/or Reinsurance industry or equivalent combination of training and experience.
- Knowledge of various forms of reinsurance specifically XOL contracts as relates to loss
- Application and calculation
- Understanding of functions pertaining to ceded reinsurance accounting is required
- Successful completion of industry professional designations CPCU AIAF or ARe preferable
- Excellent written and oral communications skills.
- Proven efficiency in ability to multitask with attention to detail.
- Proficient in Microsoft Office (Excel Word Access). Knowledge of SQL is preferred.
- Excellent research and analytical skills robust financial reconciliation skills.
- Display excellent customer relation skills as well as result driven.
AXA XL the P&C and specialty risk division of AXA is known for solving complex risks. For midsized companies multinationals and even some inspirational individuals we dont just provide re/insurance we reinvent it.
How By combining a comprehensive and efficient capital platform datadriven insights leading technology and the best talent in an agile and inclusive workspace empowered to deliver top client service across all our lines of business property casualty professional financial lines and specialty.
With an innovative and flexible approach to risk solutions we partner with those who move the world forward.
Learn more at axaxl
AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender sexual orientation age ethnicity and origins marital status religion disability or any other protected characteristic.
At AXA XL we know that an inclusive culture and a diverse workforce enable business growth and are critical to our success. Thats why we have made a strategic commitment to attract develop advance and retain the most diverse workforce possible and create an inclusive culture where everyone can bring their full selves to work and can reach their highest potential. Its about helping one another and our business to move forward and succeed.
- Five Business Resource Groups focused on gender LGBTQ ethnicity and origins disability and inclusion with 20 Chapters around the globe
- Robust support for Flexible Working Arrangements
- Enhanced family friendly leave benefits
- Named to the Diversity Best Practices Index
- Signatory to the UK Women in Finance Charter
Learn more at axaxl/aboutus/inclusionanddiversity. AXA XL is an Equal Opportunity Employer.
Sustainability
At AXA XL Sustainability is integral to our business strategy. In an everchanging world AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 202326 Sustainability strategy called Roots of resilience focuses on protecting natural ecosystems addressing climate change and embedding sustainable practices across our operations.
Our Pillars:
- Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems the foundation of a sustainable planet and society are essential to our future. Were committed to protecting and restoring nature from mangrove forests to the bees in our backyard by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
- Addressing climate change: The effects of a changing climate are far reaching and significant. Unpredictable weather increasing temperatures and rising sea levels cause both social inequalities and environmental disruption. Were building a net zero strategy developing insurance products and services and mobilizing to advance thought leadership and investment in societalled solutions.
- Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. Were training our colleagues engaging our external partners and evolving our sustainability governance and reporting.
- AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them known as AXA XLs Hearts in Action programs. These include our Matching Gifts program Volunteering Leave and our annual volunteering day the Global Day of Giving.
For more information please see Sustainability at AXA XL.
The U.S. pay range for this position is USD. Actual pay will be determined based upon the individuals skills experience and location. We strive for market alignment and internal equity with our colleagues pay.
At AXA XL we know how important physical mental and financial health are to our employees which is why we are proud to offer benefits such as a competitive retirement savings plan health and wellness programs and many other benefits. We also believe in fostering our colleagues development and offer a wide range of learning opportunities for colleagues to hone their professional skills and to position themselves for the next step of their careers. For more details about AXA XLs benefits offerings please visit USBenefitsataGlance2023US.pdf (myaxaxlbenefits).
Senior Reinsurance Accountant
London UK
AXA XL is looking for a highly organized and analytical Senior Reinsurance Accountant to join the Ceded Reinsurance Team in London UK
Responsibilities include analyzing and implementation of reinsurance treaty agreements protecting Axa XL group identifying terms and conditions analysis of premium/commission/claim registration and other attachment criteria. The candidate will interact with a diverse group of internal & external personnel including Actuaries Senior Underwriters Ceded Reinsurance Buyers and Brokers and Senior Management
DISCOVER your opportunity
What will your essential responsibilities include
- The positions primary component involves managing reinsurance program in place ensuring that: complex reinsurance contracts are correctly interpreted to determine the accurate accounting for it; all entities covered are accounted for in relevant systems. To accomplish this the candidate must exercise independent judgment and discretion about matters of material financial impact to Axa XLs financial stability.
- The positions primary goal is to sustainably improve AxaXLs net risk/return profile with an emphasis on enhancing shareholder value. That entails Reinsurance contract setup in appropriate systems; Ceded Premium booking/billing/payment; Loss recovery calculation; Recoveries collection from reinsurers.
- Work closely with actuarial team to have correct reinsurance premium allocation based on global treaty terms to make sure that the ceded transactions booked in the ledger reflect the allocation provided for each relevant system.
- Partner with Ceded Re Buyers and the Business Units to prepare & evaluate ceded premium allocation to accurately impact business unit financial results
- For the Global ceded recoveries management primary responsibilities align with management of multi system/ manual calculations of global claim aggregation/exhaustion; actuarial allocation to multiple systems of claim recoveries reinstatement premiums monitoring the AAD (Annual Aggregate deductibles) as well as management of multisystem commutation activities and/or of individual commutations
- The position is responsible for monthend quarterend and yearend closing processes of the assigned reinsurance program for all relevant systems technical accounts. Communicate and resolve issues with the business units finance teams and reinsurance intermediaries impacting efficient of ceded reinsurance programs.
- The position requires understanding of NAIC requirements for Schedule F as well as New York State Department of Financial Services requirements for insurance company financial statement preparations as it relates to reinsurance transactions. The position requires assistance in preparation of quarterly Schedule F statement for the whole insurance segment and successful submission to CDCA. It involves Identifying investigating and documenting the differences found in the reconciliation process.
- The job duties involve direct and continuous communications with external clients regarding our contractual agreements accounting/cash flow as well as requires management of the companys collateral process to ensure that proper collateral is in place at yearend for statutory reporting requirements and reduction of Schedule F penalties.
- The position requires management of the daily activity with regards to collateral decreases and withdrawals ensuring our clients receive the proper communication and documentation regarding the activity around their Letters of Credit trust accounts and funds withheld as well as the Multi beneficiary trusts
- Develop recommend and implement continuous improvements to processes reports and technology solutions
- Training the offshore team
- Performing monthly data quality/verification process and explaining any discrepancies found
- Acquire and command the knowledge of the systems used within the company (ProCede WINS CH GENIUS Hartford GENIUS The Frame Global Claims System Documentum)
You will report to Head of Regional Accounting Operations Ceded Reinsurance United States.
Required Experience:
Senior IC
Employment Type
Full-Time
