What are the responsibilities and job description for the Reinsurance Accounting Manager position at Florida Peninsula Insurance Company?
Position Summary
The Reinsurance Accounting Manager is a key position responsible for overseeing, completing and reviewing complex reinsurance reporting initiatives for the Company. This position manages financial reporting functions to ensure timely, accurate accounting and financial reporting that complies with statutory accounting principles. In addition, the Reinsurance Accounting Manager is responsible for ensuring that reinsurers are paid timely, monitors receivables from reinsurers and ensures compliance with all reinsurance reporting requirements.
Essential Functions
Candidates must be authorized to work for any employer in the U.S. without requiring visa sponsorship now or in the future.
WRM is committed to providing equal employment opportunities to all employees and applicants without regard to race, color, religion, sex, sexual orientation, gender identity or expression, national origin, disability, or veteran status. We take affirmative action to ensure that all employment decisions are based on merit, qualifications, and abilities.
Notice to Third Party Agencies: WRM does not accept unsolicited resumes from third party recruiting firms. Absent a signed Service Agreement by WRM’s Human Resources Department, WRM reserves the right to pursue and hire these candidates without financial obligation to recruiters or agencies.
The Reinsurance Accounting Manager is a key position responsible for overseeing, completing and reviewing complex reinsurance reporting initiatives for the Company. This position manages financial reporting functions to ensure timely, accurate accounting and financial reporting that complies with statutory accounting principles. In addition, the Reinsurance Accounting Manager is responsible for ensuring that reinsurers are paid timely, monitors receivables from reinsurers and ensures compliance with all reinsurance reporting requirements.
Essential Functions
- Timely and accurately calculate and book complex ceded reinsurance transactions (quota share and catastrophe).
- Submit loss bordereaux and billings within contract terms.
- Monitor and manage the timely collection of balances due from reinsurers, including the maintenance of an inventory of receivables by reinsurer.
- Research accounting guidance and apply appropriate accounting guidance to complex reinsurance transactions and structures.
- Prepare statutory schedules required in periodic regulatory filings (Schedule F)
- Ensure that adequate collateral is maintained for unauthorized and certified reinsurers
- Make certain that reinsurance premiums and any premium adjustments are accounted for correctly.
- Confirm that premium remittances are accurate, and that remittance is timely and maintain a schedule of payables to reinsurers.
- Periodically report to senior management on the status and performance of reinsurance programs by treaty year.
- Respond to various reinsurance broker or reinsurer inquiries as necessary.
- Facilitate successful audit requests or regulator related inquiries or procedures.
- Lead and mentor a Reinsurance Accountant, providing guidance, training, and performance evaluations.
- Other miscellaneous reinsurance related responsibilities due to program changes or commutations.
- Bachelor’s degree in accounting or finance.
- 7 - 10 years of statutory accounting and financial reporting experience
- Recent property and casualty reinsurance accounting experience
- Proven supervisory experience, with strong leadership and team management skills.
- In-depth knowledge of reinsurance principles, accounting standards, and regulatory requirements.
- Excellent analytical, problem-solving, and organizational skills and strong attention to detail and accuracy.
- Effective communication and interpersonal skills, with the ability to collaborate across departments and with external partners.
- Ability to multi-task, meet deadlines and prioritize workload.
- Ability to identify and communicate issues within the ceded reinsurance accounting process.
Candidates must be authorized to work for any employer in the U.S. without requiring visa sponsorship now or in the future.
WRM is committed to providing equal employment opportunities to all employees and applicants without regard to race, color, religion, sex, sexual orientation, gender identity or expression, national origin, disability, or veteran status. We take affirmative action to ensure that all employment decisions are based on merit, qualifications, and abilities.
Notice to Third Party Agencies: WRM does not accept unsolicited resumes from third party recruiting firms. Absent a signed Service Agreement by WRM’s Human Resources Department, WRM reserves the right to pursue and hire these candidates without financial obligation to recruiters or agencies.