What are the responsibilities and job description for the Financial Reporting & Reinsurance Accounting Intern position at Group 1001?
Group 1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001’s culture emphasizes the importance of collaboration, communication, core business focus, risk management, and striving for outcomes. This goal extends to how we hire and onboard our most valuable assets – our employees.
Why This Role Matters:
RVI has a very exciting internship opportunity on our Finance Team supporting a growing Reinsurance business. We are seeking a highly motivated, detail-oriented individual with a passion for a career in Finance, Accounting and Re-insurance Operations. This internship opportunity provides hands-on experience in various aspects of finance within the reinsurance sector. The selected candidate will have the chance to work on projects related to reinsurance accounting, account reconciliations, treaty performance, broker and cedent reporting, and service level tracking while gaining hand-on exposure in various accounting disciplines. We are looking for someone who is willing to make a commitment for 3 summer months, with the potential for continuing part-time work throughout the school year. If you are a motivated individual with a passion for accounting, we encourage you to apply and be a part of our dynamic team.
How You'll Contribute:
Account Reconciliations
Employees who meet benefit eligibility guidelines and work 30 hours or more weekly, have the ability to enroll in Group 1001’s benefits package. Employees (and their families) are eligible to participate in the Company’s comprehensive health, dental, and vision insurance plan options. Employees are also eligible for Basic and Supplemental Life Insurance, Short and Long-Term Disability. All employees (regardless of hours worked) have immediate access to the Company’s Employee Assistance Program and wellness programs—no enrollment is required. Employees may also participate in the Company’s 401K plan, with matching contributions by the Company.
Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals. All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.
Why This Role Matters:
RVI has a very exciting internship opportunity on our Finance Team supporting a growing Reinsurance business. We are seeking a highly motivated, detail-oriented individual with a passion for a career in Finance, Accounting and Re-insurance Operations. This internship opportunity provides hands-on experience in various aspects of finance within the reinsurance sector. The selected candidate will have the chance to work on projects related to reinsurance accounting, account reconciliations, treaty performance, broker and cedent reporting, and service level tracking while gaining hand-on exposure in various accounting disciplines. We are looking for someone who is willing to make a commitment for 3 summer months, with the potential for continuing part-time work throughout the school year. If you are a motivated individual with a passion for accounting, we encourage you to apply and be a part of our dynamic team.
How You'll Contribute:
Account Reconciliations
- Review and reconcile premium and loss information
- Accounts Receivable ageing monitor
- Trust account adequacy and funding levels
- Research and report on peer group companies across various geographies and perils within
- Listen and prepare recaps of key publicly traded reinsurers quarterly earnings calls
- Assist in regulatory reporting and filings
- Participate in state review of minimum required capital
- Assist in the development of insightful financial reports to enhance the units business decision support function
- Gain practical knowledge of various accounting disciplines (GAAP, NAIC Statutory, Bermuda Monetary Authority) and regulatory requirements
- Assist in ensuring compliance with regulatory requirements and best practices
- Provide support for regulatory audit requests
- Support the development of business requirements, workflows and data model to implement cloud based information repository of contract detail, financial data and claim information
- Collaborate with cross-functional teams to enhance and optimize accounting systems and tools.
- Currently pursuing a degree in Accounting, Finance, Business Analytics, or a related field
- Strong analytical and problem-solving skills
- Excellent communication and interpersonal skills
- Knowledge of finance and accounting principles
- Proficiency in Microsoft Product Suite and other relevant accounting software
- Organized and ambitious, strong attention to detail
- Eagerness to learn and contribute to a dynamic team environment
- Must be able to commit to 4 days per week with flexibility to accommodate academic demands.
Employees who meet benefit eligibility guidelines and work 30 hours or more weekly, have the ability to enroll in Group 1001’s benefits package. Employees (and their families) are eligible to participate in the Company’s comprehensive health, dental, and vision insurance plan options. Employees are also eligible for Basic and Supplemental Life Insurance, Short and Long-Term Disability. All employees (regardless of hours worked) have immediate access to the Company’s Employee Assistance Program and wellness programs—no enrollment is required. Employees may also participate in the Company’s 401K plan, with matching contributions by the Company.
Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals. All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.