Senior Reinsurance Accountant III

The Senior Reinsurance Accountant III is a motivated experienced and independent thinker who plays a critical role in supporting the accounting and operations of AmTrust Financial Services Reinsurance cycle (supports reinsurance quote submissions broker billing/collections reinsurance bordereau reinsurance accounting and reporting of reinsurance balances). The role interacts with our finance leadership team underwriting claims and actuarial departments to ensure the proper interpretation and recognition of complex reinsurance agreements. This is a great opportunity to be part of an exciting fortune 500 organization that is growing and at the same time transforming its accounting and reinsurance platforms to meet the needs of a global organization.

The salary range for this role is 110000 - 130000 annually. This range is only applicable for jobs to be performed in Jersey City. Base pay offered may vary depending on but not limited to education experience skills geographic location travel requirements sales or revenue-based metrics. This range may be modified in the future.

This hybrid role will be worked 3 days a week on-site and 2 days remote. This role can be filled in Jersey City NJ; Southington CT; or Dallas TX.

• Prepare and/or review inward (assumed) and/or outward (ceded) day to day reinsurance ledger transactions including preparation of supporting schedules including the Cession Statements and Bordereaux; ensuring the journal entries and supporting reinsurance system closings track with the departments close calendar
• Work with external business partners (Brokers / Reinsurers / Agencies) is settling open recoverable / payable reinsurance balances; including ensuring settled balances agree with cession statements and are timely collected. The work also involves working with brokers on collateral requirements and clearing open balances by applying received receipts against the companies Oracle Accounts Receivable (AR-SLA) sub-ledger
• Prepare and/or review the quarterly and annual U.S. GAAP financial reports for reinsurance balances and disclosures. Also participate in the preparation of the various U.S. Statutory (STAT) Schedule F filings for assigned AmTrust entities
• Participate in the implementation of Complex Insurance and/or Reinsurance accounting transactions at the direction of management; can involve documenting the Statement of Operating Procedures (SOP) for the transaction
• Prepare analytics at the direction of management to support variance explanations for reinsurance balances or for selected reinsurance programs. The analytics need to explain the drivers causing the movement in the balances and/or insurance industry ratios
• Prepare and/or review balance sheet account reconciliations for assigned reinsurance balances; this includes supporting the account reconciliation at the appropriate coding level and ensuring the GL balance agrees to the Sub-ledger. Also identifying timing differences and non-timing differences for which a remediation plan is to be put in place
• Support the reinsurance team adherence to the companys framework of internal controls by driving the design and execution of reinsurance related SOX controls including those found in the reinsurance teams Risk Control Matrix (RCM). Work with external and internal auditors as requested by management in testing the controls and in providing documentation to the auditors in supports of the control.
• Work on System Enhancement projects and/or tasks related to advancing the AmTrust Reinsurance process. This can entail participating in new system implementation including user acceptance testing and/or validation of go live balances against expected results.

• 3 - 4 years of progressive reinsurance accounting experience preferred and/or 6 years of insurance accounting experience
• A bachelors degree in Business Accounting or Finance (a MBA or CPA not needed its a plus)

Hard Skills:

• Advanced Excel skills (Pivot Tables XLOOKPUP or VLOOKUP Macros etc..) is highly desirable
• Experience in working with Oracle ERP ledgers especially in the area of data mining and/or knowledge of uploading entries into Oracle is preferable.
• Experience with the documentation of accounting and reinsurance operational procedures (such as SOX documentation or process work-flow documentation) is preferable.

Soft Skills:

• Strong analytical skills with the ability to identify unusual variances in the results and drill into supporting general ledger accounts / workpapers and/or work with others in the organization to provide an explanation.
• Be proactive detail oriented with solid organizational skills be flexible and have demonstrated skills to work effectively in a team-oriented environment
• Strong technical system skills in working with large files and data and solid problem-solving skills including taking the initiative towards continuous improvement as required
• Ability to work in a fast-paced environment and comfortable working in a large company with many affiliates making up the bulk of the company structure and be comfortable working with multi-system environment used to process and/or gather data.
• Has good verbal and written communication skills who is comfortable interacting with others including vendors and/or counterparties from outside the organization.

AmTrust Financial Services offers a competitive compensation package and excellent career advancement opportunities. Our benefits include: Medical & Dental Plans Life Insurance including eligible spouses & children Health Care Flexible Spending Dependent Care 401k Savings Plans Paid Time Off.

AmTrust strives to create a diverse and inclusive culture where thoughts and ideas of all employees are appreciated and respected. This concept encompasses but is not limited to human differences with regard to race ethnicity gender sexual orientation culture religion or disabilities.

AmTrust values excellence and recognizes that by embracing the diverse backgrounds skills and perspectives of its workforce it will sustain a competitive advantage and remain an employer of choice. Diversity is a business imperative enabling us to attract retain and develop the best talent available. We see diversity as more than just policies and practices. It is an integral part of who we are as a company how we operate and how we see our future.