What are the responsibilities and job description for the SAP FS-RI Functional Consultant position at iTech US, Inc.?
Position: SAP FS-RI Functional Consultant
Location: Jersey City, NJ / New York City, NY
Duration: 12 months Contract
Responsibilities:
- Strong hands‑on experience with SAP FS‑RI (Reinsurance) configuration and support
- Proven reinsurance domain expertise, including:
- Treaty & Facultative reinsurance
- Proportional and Non‑Proportional structures
- Ceded and Assumed reinsurance
- Experience with treaty/contract setup, premium calculation, postings, and estimations
- Functional knowledge of claims processing, recoveries, commissions, settlements, UPR, and reinstatement premiums
- Strong understanding of reinsurance accounting principles
- Experience supporting month‑end, quarter‑end, and year‑end close processes
· Integration experience with:
SAP S/4HANA Finance (FI‑GL, FI‑AP, FI‑AR)
SAP FS‑CD
· Ability to analyze posting logic, document flow, reconciliation issues, and data discrepancies
· Experience supporting SIT, UAT, and production issues
· Ability to prepare functional specifications and support business requirement discussions
· Exposure to SAP and non‑SAP system interfaces
· Basic ABAP debugging/log analysis skills
· Insurance/Reinsurance industry experience is mandatory
· 6 years of SAP experience with 3 years of hands‑on SAP FS‑RI experience
Roles & Responsibilities
- Analyze business requirements related to reinsurance processes and translate them into SAP FS‑RI functional solutions
- Configure and support SAP FS‑RI for treaty and facultative reinsurance, including proportional and non‑proportional structures
- Set up and maintain reinsurance contracts, treaties, sections, and participation structures
- Support premium calculation, estimations, postings, claims, recoveries, commissions, and settlements
- Ensure accurate reinsurance accounting and postings to SAP S/4HANA Finance
- Manage UPR, reinstatement premiums, and period‑end reinsurance activities
- Support month‑end, quarter‑end, and year‑end close processes related to reinsurance
- Work closely with Finance, Actuarial, and Business stakeholders to resolve functional issues
- Support and coordinate system integration with SAP FS‑CD, SAP FI, and upstream/downstream systems
- Prepare and maintain functional specifications, configuration documents, and test scenarios
- Support SIT, UAT, defect resolution, and production issues
- Analyze and resolve posting errors, reconciliation issues, and data discrepancies
- Ensure compliance with internal controls, audit, and regulatory requirements
- Participate in change management, transports, and release activities
- Provide knowledge transfer and support to onshore/offshore teams as required
Generic Managerial Skills, If any
- Strong communication skills for stakeholder management across business, IT, and leadership groups.
- Ability to manage multiple workstreams, prioritize tasks, and deliver within timelines.
- Problem-solving mindset with attention to detail and ability to work independently.
- Ability to mentor junior team members and support knowledge transfer.
- Experience in Agile/Scrum ceremonies and backlog management.
Education: At least a bachelor’s degree (or equivalent experience) in Computer Science, Software/Electronics Engineering, Information Systems, or closely related field is required