Reinsurance Accountant

Exton, Pennsylvania, USA

Ceded Reinsurance is a strategic function within AXA XL in charge of defining and implementing the reinsurance strategy as well as administrating all reinsurance treaties through their lifecycle. Ceded Re is part of the AXA XL Risk Management function, the AXA XL Chief Risk Officer being member of AXA XL Leadership team.

Ceded Re Operations team is responsible for the administration of all Treaty Reinsurance business written within AXA XL. Ceded Re Operations is composed of 4 key areas: Technical Operations, Technical Accounting, Data & Operations Reporting and Central Operations.

This role resides within the Ceded Reinsurance Casualty Technical Operations team based in Exton, which is responsible for:

• Managing all Global Casualty reinsurance policy set-up and administration, as well as identification of claims and application of Ceded Reinsurance.
• The individual will be required to oversee and manage life cycle of Treaty, to include but not limited to the following classes;
  • North America Casualty & XS business
  • North America Programs

DISCOVERyour opportunity

What will your essential responsibilities include?

Manage lifecycle of Treaty for Programs business

• Ensure cessions accurately reflect Reinsurance contracts/Facultative terms and conditions for in Ceded reinsurance systems.
• Assisting in Reinsurance premium adjustments and reinsurance loss calculations for quota share and excess of loss reinsurance agreements are completed quarterly and in time and communicated to Reinsurers/brokers.
• Performing monthly data quality/verification process and explaining any discrepancies found. Working closely with claims, underwriting and actuarial teams to find and resolve data discrepancies.
• Completing supplemental bordereau review and signoff.
• Assist in quarterly Schedule F completion and reconciliation to the General Ledger

Working with internal and external stakeholders

• Working closely with Finance to provide quarterly detail for manual WebADI booking any contracts handled off system
• Working closely with the offshore team, to make sure quarterly quota share and excess of loss agreement reporting is paid on time
• Communicating internally with Reinsurance placement team, Underwriting, Claims.
• Support the credit control process and improve cash flow. Providing supporting narrative and reports for ceded claims, assisting with aged debt and collateral requests. Work with our Middle office area for matters of specific RI such as Facultative.
• Collaborating with Claim management for brokers & reinsurers queries
• Liasing with Legal for matters arising from claim and also with regard to Sanctions
• Partner with our Middle office area for matters of specific RI such as Facultative. Claim management with brokers & reinsurers for any queries
• Work with external brokers and participate in meetings to monitor progress of accounts
• Support Ceded Re transformation journey, actively participating in projects which aim to drive efficiency. Review process and where appropriate suggest improvements.
• Working closely with our Shared services team including monitoring, review and training on reinsurance treaty matters.
• Partner with Finance & Actuarial on any claims adjustments post close for accrual consideration.

This role reports to Head of Regional Accounting Operations – Ceded Re Technical Operations.

SHARE your talent

We’re looking for someone who has these abilities and skills:

• Bachelor's degree in business, Finance, Accounting or a related area, or equivalent work experience.
• Advanced command of MS office and in particular advanced Excel skills and potential Access.
• Some experience in Insurance/Reinsurance industry or equivalent combination of training and experience.
• Ability to liaise and maintain good relationships with key stakeholders internally and externally.
• Good Collaborator and can work effectively with key stakeholders at all levels in a fast-paced global environment
• Coaching and capability-building, conscientious about quality and accuracy of work provided
• Excellent Time management and organizational skills
• Agility and ability to managing competing priorities and manage to deadlines
• Experience working with a virtual team
• Excellent verbal and written communication skills and ability to collaborate both in person and with global teams.
• Excellent attention to detail and process.
• Comfortable in giving training to team where required.

FIND your future

AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it.

How? By combining a comprehensive and efficient capital platform, data-driven 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.com

Inclusion & Diversity

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. That’s 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. It’s 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.com/about-us/inclusion-and-diversity. AXA XL is an Equal Opportunity Employer.

Sustainability

At AXA XL, Sustainability is integral to our business strategy. In an ever-changing 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 2023-26 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. We’re 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. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led 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. We’re 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 XL’s “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 46,500 – 83,000. Actual pay will be determined based upon the individual’s 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. Wealsobelieve 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 aboutAXA XL’s benefits offerings, please visit US-Benefits-at-a-Glance_2023_US.pdf (myaxaxlbenefits.com).