- Responsible for timely recording monthly journal entries related to Coverys' reinsurance businesses, including preparation of supporting information, and assigned account reconciliations.
- Interfaces financial information monthly into the reinsurance reporting system and verifies the accuracy against the reinsurance system output.
- Assist with the timely preparation of quarterly and annual information to support NAIC filings, including Schedule F, and statutory and GAAP basis financial statements and footnotes.
- Prepares reinsurance financial analyses and identifies unusual and/or inconsistent trends that require investigation or explanation.
- Coordinates with business partners, MGAs, MGUs or similar external groups to obtain underwriting and claims bordereau to support financial reporting process.
- In cooperation with our reinsurance broker, provide timely payment of ceded reinsurance premium and ensure timely requests and collection of reinsurance recoverable.
- Calculates and assists in the maintenance of appropriate collateral required for reinsurance business.
- Analyzes and interprets reinsurance contracts, ensuring proper accounting treatment for all transactions.
- Maintains the accuracy of the Company's reinsurance reporting system for reinsurance programs and contracts.
- Assist with financial audits and regulatory examinations. This includes interaction with the external audit team.
- Keeps current with changes in statutory accounting requirements, recognizes impacts on reinsurance and program-specific operations.
- Completes all assigned tasks and reconciliations in Blackline in a timely manner.
- Maintains documentation of policies and procedures relating to reinsurance process to increase quality, effectiveness and efficiency. Identifies and recommends opportunities to improve financial processes and supports associated implementation efforts.
- Works in collaboration with other members of the Corporate Finance team to execute an effective and efficient financial close process.
- Special projects as assigned.
- Bachelor's degree or higher with major coursework in accounting and/or finance. Equivalent experience will be considered.
- 2+ years related accounting and reporting experience in the property & casualty insurance industry.
- Individual must be proficient in insurance statutory accounting. Reinsurance experience preferred.
- Experienced with general ledger and other accounting information systems. Workday and BlackLine experience preferred.
- Advanced Microsoft Excel knowledge and proficiency with other Microsoft Office applications is required.
- Ability to manage time effectively and meet deadlines.
- Ability to communicate complex issues in a clear, concise and meaningful way.
- Strong attention to detail with a high level of accuracy and consistency in preparing work.
- Ability to actively participate in team development and team-oriented processes and motivate others to do the same.
- Positive and professional demeanor. Ability to work courteously and enthusiastically with various internal and external parties.
- Self-motivation and the ability to work in a fast paced, forward moving environment.
- An understanding of reinsurance financial systems is preferred.
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Accountant - Boston, United States - Coverys
Description
The primary role of the Reinsurance Accountant is to perform daily, monthly, quarterly, and annual financial reporting processes for Coverys' reinsurance and program business. This will include the timely calculation and recording of premium and loss activity in the general ledger, the processing of payments and receipts, preparation of account reconciliations, and various other tasks as directed. The position will review and verify reinsurance contracts and program manager agreements, for compliance with the terms and conditions. The position will participate in the validation of information transferred from policy administration systems and the enterprise data warehouse to the reinsurance system and confirm that the reinsurance system is properly structured to correctly calculate premium and loss cessions.
Essential Duties & Responsibilities
If you're a caring and customer focused individual who enjoys working with passionate team members, Coverys is the right company for you
