Senior Reinsurance Accountant

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About Everest:
Everest Group Ltd. (Everest) is a leading global reinsurance and insurance provider operating for nearly 50 years through subsidiaries in North America Latin America the UK & Ireland Continental Europe and Asia Pacific regions. Throughout our history Everest has maintained its discipline and focuses on creating longterm value through underwriting excellence and strong risk and capital management. Our strengths include extensive product and distribution capabilities a strong balance sheet and an innovative culture. Our most critical asset is our people. We offer dynamic training & professional development to our employees. We also offer generous tuition/continuing education reimbursement programs mentoring opportunities flexible work arrangements and Colleague Resource Groups.

About the Role:

The Ceded Reinsurance Accounting team of Everest International Insurance a member of the Everest Re Group Ltd. is looking for a Senior Reinsurance Accountant to join our team. This is a brand new role located in London or Madrid with a focus on supporting our Syndicate business.

This position will be based in our London or Madrid office with a hybrid schedule of working two days remote each week.

Role & Responsibilities (include but not limited to):

• Reinsurance Accounting:

  • Set up Treaties (Quota share Surplus Excess of Loss Automatic Facultative) and facultative reinsurance contracts in the ceded reinsurance accounting system (XL Pro) including relevant contract details (e.g. aggregates retentions inuring coverage exclusions adjustable features etc).

  • Validate reinsurance contracts set up and calculation (e.g. QS RIPS adjustments premiums etc) in XL Pro ensuring consistency with the placement teams contract intention and contract documentations.

  • Ensure and deliver timely quarterly financial reconciliations of ceded reinsurance related accounts in support of the Everest Groups consolidated US GAAP financial statements and local accounting and regulatory standards.

  • Liaise closely with the Ceded buyers underwriting claims and actuarial departments to ensure the proper interpretation and recognition of complex reinsurance agreements.

  • Accounting of ceded balances held outside of XL Pro (e.g. manual adjustments).

• Reporting and Statements:

  • Prepare and analyse financial reports related to reinsurance activities.

  • Deliver management reporting as defined with the Head of International RI Accounting and International Financial Controller to guide reinsurance strategy.

  • Prepare on a timely basis ceded accounts bordereaux and recording of related ceded payable and recoverable amounts.

  • Support the delivery of requested data to actuarial teams to meet reserving requirements and to Financial Reporting to meet the managing agents local/regulatory reporting requirements.

  • Ensure timely collection and payment of ceded reinsurance balances.
    

• Additional duties include:

  • Support the implementation of the Everest Insurance Ceded Reinsurance system for International (e.g. Syndicate) including the cash modules.

  • Support the design implementation and maintenance of a consistent control framework which is compliant with SarbanesOxley covering both reinsurance placement and accounting.

  • Support the design and implementation of a closing calendar and controls relating to the ceded reinsurance operations which meet International and Divisional quarterly closing calendar deadlines.

  • Support the Head of International RI Accounting to drive improvements to the ceded reinsurance accounting systems and processes.

  • Ensure compliance with local accounting standards regulations and internal policies related to reinsurance accounting.

  • To work closely with the Head of International RI Accounting on recurring and ad hoc requirements including audits Reinsurance MI documentations reconciliations.

  • Assist in additional projects/tasks as assigned.

Qualifications:

• Part/Qualified Accountant (ICAEW ACCA or CIMA with proven post qual experience).

Knowledge Skills & Competencies:

• Relevant experience in the Accounting Department of a property and casualty insurance or reinsurance company is strongly preferred.

• Understanding of functions pertaining to ceded reinsurance or insurance accounting.

• Knowledge/experience with Global XL Pro system or other RI system is highly desirable.

• Knowledge of SQL is preferred.

• Excellent PC skills; must be proficient in Microsoft Excel (e.g. PivotTables & VLOOKUPS).

• Strong analytical problem solving and technical skills.

• Strong Interpersonal skills excellent oral and written communication skills. Confident in dealing with colleagues from different functions geographic locations and levels of seniority.

• A selfmotivated energetic individual keen to get involved in all areas and with a desire for continuous learning.

• Strong organisational skills and the ability to effectively manage time and be able to multitask in an everchanging environment.

Our Culture

At Everest our purpose is to provide the world with protection. We help clients and businesses thrive fuel global economies and create sustainable value for our colleagues shareholders and the communities that we serve. We also pride ourselves on having a unique and inclusive culture which is driven by a unified set of values and behaviors. Clickhereto learn more about our culture.

• Our Valuesare the guiding principles that inform our decisions actions and behaviors. They are an expression of our culture and an integral part of how we work: Talent. Thoughtful assumption of risk. . Efficiency. Humility. Leadership. Collaboration. Diversity Equity and Inclusion.

• Our Colleague Behaviorsdefine how we operate and interact with each other no matter our location level or function: Respect everyone. Pursue better. Lead by example. Own our outcomes. Win together.

All colleagues are held accountable to upholding and supporting our values and behaviors across the company. This includes day to day interactions with fellow colleagues and the global communities we serve.

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