Reinsurance Accounting Manager

UFG Insurance; Cedar Rapids (IA); On-site; USD 123,865 - 163,368; Full time

Benefits offered by this job

Annual incentive compensation

Retirement plans with employer contributions

Generous time-off program

Accident, critical illness & short-term disability insurance

Programs for employee well-being

Job summary

A national insurance company is seeking a Manager, Reinsurance Accounting to oversee day-to-day operations and ensure the accuracy and compliance of reinsurance activities. The role involves analyzing reinsurance results, leading a team, and collaborating with various departments to enhance efficiency and support financial initiatives. A Bachelor's degree in Accounting or Finance is required, along with significant experience in insurance accounting and team leadership. The position offers competitive salary and benefits.

Qualifications

• 10+ years of insurance accounting experience with 5+ years in reinsurance accounting.
• 3–5 years of supervisory or leadership experience.
• Prior experience within property and casualty insurance preferred.

Responsibilities

• Oversee daily reinsurance accounting operations.
• Review and approve calculations for accuracy and compliance.
• Coordinate preparation of financial statement disclosures.

Skills

Strong understanding of GAAP and statutory accounting principles

Strong analytical and problem-solving skills

Advanced proficiency in Microsoft Excel

Excellent written and verbal communication abilities

Leadership presence and team orientation

Education

Bachelor’s degree in Accounting or Finance

Certified Public Accountant (CPA)

Tools

ERP systems

Reinsurance subledger systems

Job description

UFG is currently seeking a Manager, Reinsurance Accounting to be responsible for overseeing the day-to‑day accounting operations, reporting, analysis and compliance of the Company’s reinsurance activities. This role directs the procedures performed by the team to ensure the completeness, accuracy, and timeliness of all reinsurance accounting processes, including ceded and/or assumed transactions, integrity of calculations, reconciliations, and financial disclosures.

Working closely with Finance leadership, Actuarial, and Reinsurance Operations teams, this position provides technical research and other accounting support for treaty execution activities, cash settlements, and reinsurance reporting (GAAP and statutory) processes while maintaining an effective internal control environment. The Manager will play a key role in continuous improvement, driving process optimization, ensuring regulatory compliance, and contributing to the modernization of reinsurance accounting systems and practices.

This position requires strong leadership, analytical, and communication skills, with the ability to collaborate effectively across departments and external partners in a complex, fast‑paced insurance environment.

Essential Duties and Responsibilities

• Oversee daily reinsurance accounting operations, ensuring timely completion of month‑end, quarterly, and annual closing activities.
• Review and approve calculations, settlements, and journal entries for accuracy and compliance.
• Coordinate preparation of financial statement disclosures, schedules, and statutory filings related to reinsurance activities.
• Analyze reinsurance results and monitor key performance indicators to provide insights to Finance leadership and other stakeholders.
• Actively participate in new treaty implementations.
• Review treaty terms and documentation to ensure proper accounting treatment (i.e., GAAP, statutory accounting principles) and alignment with company policies.
• Collaborate with business partners across actuarial, underwriting, claims, and finance to resolve discrepancies and ensure data integrity.

Governance & Controls

• Maintain SOX‑compliant documentation, ensuring adherence to company policies and internal control requirements.
• Collaborate with Internal Audit, external auditors, and Finance leadership to prepare and respond to audit requests.
• Monitor reinsurance recoverable and payable balances to ensure accurate reconciliation and timely collection or settlement.

Collaboration & Process Improvement

• Partner with the Finance Systems and Data team to maintain and enhance subledger systems supporting reinsurance accounting.
• Identify, recommend, and implement process and automation improvements to enhance efficiency and accuracy.
• Collaborate with cross‑functional teams including operations and IT to support finance transformation initiatives designed to modernize systems and standardize financial processes.
• Participate in special projects, including integrations, migrations, and regulatory change implementations.
• Perform other duties as assigned to support the reinsurance team and company goals.

Leadership

• Manage and mentor team members, providing training, guidance, and performance feedback.
• Promote a culture of accountability, continuous improvement, and collaboration within the reinsurance accounting function.
• Coordinate workloads to meet deliverables and balance ongoing operational and project‑related priorities.

Job Specifications

Education

• Bachelor’s degree in Accounting or Finance required.
• Certified Public Accountant (CPA) preferred.

Experience

• 10+ years of insurance accounting experience with 5+ years related to reinsurance accounting.
• 3–5 years of supervisory or leadership experience.
• Prior experience within property and casualty insurance preferred.

Knowledge, Skills & Abilities

• Strong understanding of GAAP and statutory accounting principles.
• Strong analytical and problem‑solving skills with attention to accuracy and detail.
• Advanced proficiency in Microsoft Excel (pivot tables, VLOOKUP, complex formulas).
• Experience with ERP or reinsurance subledger systems preferred.
• Exceptional analytical, problem‑solving, and organizational skills.
• Excellent written and verbal communication abilities, with a capacity to communicate effectively at all levels.
• Ability to manage multiple priorities, meet deadlines, and work effectively in a dynamic environment.
• Process improvement mindset with ability to identify and implement efficiency enhancements.
• Critical thinking skills and sound professional judgment.
• Strong leadership presence, team orientation, and commitment to operational excellence.

Working Conditions

• Travel Requirements: Infrequent travel, only as needed.

Pay Transparency Statement

UFG Insurance is committed to fair and equitable compensation practices. The base salary range for this position is $123,865 - $163,368 annually, which represents the typical range for new hires in this role. Individual pay within this range will be determined based on a variety of factors, including relevant experience, education, certifications, skills, internal equity, geography and market data.

In addition to base salary, UFG Insurance offers a comprehensive total rewards package that includes:

• Annual incentive compensation
• Accident, critical Illness & short‑term disability insurance
• Retirement plans with employer contributions
• Generous time‑off program
• Programs designed to support the employee well‑being and financial security.

This pay range disclosure is provided in accordance with applicable state and local pay transparency laws.

Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.