Jr. Reinsurance Accountant

Starr; New York (NY); On-site; USD 55,000 - 75,000; Full time

Benefits offered by this job

Training & development

Inclusive workplace

Job summary

Starr, a global leader in commercial insurance, is seeking a Jr. Reinsurance Accountant in New York to join our reinsurance accounting team focused on multinational business.

You will process facultative and treaty reinsurance accounts, manage cash flows, and support reporting and reconciliations. The role requires a Bachelor’s in accounting/finance with 0–3 years of experience, strong attention to detail, analytical thinking, and proficiency with MS Office.

Qualifications

• Bachelor’s degree in accounting, finance or related.
• 0–3 years work experience preferably in accounting, finance or related.
• High attention to detail.
• Analytical skills and solutions-oriented mindset.
• Ability to multi-task and prioritize.
• Good knowledge of MS Office: Excel, Word, etc.
• Basic knowledge of insurance/reinsurance; cash/settlements experience preferred.
• Experience with reinsurance systems (RMS, SICS, ProCede or similar) is a plus.

Responsibilities

• Review and record facultative and treaty accounts including premium, commission, taxes for assumed and ceded reinsurance.
• Book assumed accounts and produce journal entries for general ledger postings.
• Monitor and allocate incoming cash; process outgoing payments and settlements.
• Process settlement of ceded premium and billing/recovery of ceded facultative reinsurance.
• Perform general ledger reconciliations in a timely and accurate manner.
• Follow up on cash collection and processing of disbursements.
• Investigate discrepancies until resolution and participate in ad-hoc projects.

Skills

Attention to detail

Analytical thinking

Multi-tasking

Organization

Prioritization

Cash handling

Reinsurance knowledge

Education

Bachelor’s degree in accounting, finance or related

Tools

MS Office (Excel, Word)

Reinsurance systems RMS/SICS/ProCede

Job description

Join Starr, a global leader in commercial insurance with over a century of expertise. We empower our employees to innovate, make impactful decisions, and build lasting client relationships worldwide. At Starr, you'll work in an entrepreneurial culture alongside accessible leaders, leveraging our financial strength and vast industry experience to deliver solutions for our clients, no matter how complex. Grow your career with a rapidly growing company that invests in its people and their ability to drive real progress.

Position Summary:

The Jr. Reinsurance Accountant will work within the reinsurance accounting department to support our team, focusing on the Multinational business, processing facultative and treaty reinsurance accounts, processing the incoming and outgoing cash, as well as performing reporting and reconciliation activities. This role involves the processing of assumed and ceded reinsurance accounts. Perform Reinsurance Accounting operational duties as needed/required.

Responsibilities:

• Review and record facultative and treaty accounts, including premium, commission, taxes, etc. for assumed and ceded reinsurance.
• Book assumed accounts and produce the ceded bdx to the reinsurance panel, create the journal entries ensuring correct and timely general ledger postings.
• Monitor and allocate the incoming cash. Create the outgoing payments. Maintain and apply cash for facultative and treaty reinsurance contracts.
• Process the settlement of ceded premium, and the billing and recovery of ceded facultative reinsurance.
• Perform general ledger reconciliations in a timely and accurate manner.
• Follow up on cash collection and process disbursements.
• Investigate and follow up discrepancies until resolution.
• Participate in ad-hoc projects/initiatives.

Skills and Qualifications:

• Bachelor’s degree in accounting, finance or related.
• 0-3 years work experience preferably in accounting, finance or related.
• High attention to detail, precise
• Analytical skills, solutions-oriented mindset
• Ability to multi-task, organized, with a good sense of priorities
• Good knowledge of MS Office: Excel, Word, etc
• Basic knowledge of insurance/reinsurance. Experience handling cash/settlements, and recoveries is preferred
• Experience with reinsurance systems and platforms (e.g., RMS, SICS, ProCede or similar) is a plus.

Starr is an equal opportunity employer, which means we'll consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we're committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.