Senior Accountant

Chubb European Group Ltd.; Philadelphia (Philadelphia County); On-site; USD 70,000 - 100,000; Full time

Job summary

Chubb European Group Ltd. is hiring a reinsurance accounting professional to unravel complex issues and perform reconciliations for accurate financial reporting.

The role emphasizes monthly and quarterly closes, process automation, and close collaboration with internal teams and external partners. The position involves verifying billings, collecting open balances, reviewing ceded premium and loss ledgers, and preparing management commentary for financial reports.

Responsibilities

• Prepare, disburse, and settle monthly and quarterly accounts in accordance with the contract agreement leveraging process automation.
• Work internally and with third parties to verify receipt of billings, initiate collection of open balances in accordance with established procedures, respond to queries, resolve receivable and payable discrepancies, and elevate unresolved collection issues.
• Monthly review of the reinsurance premium and loss sub ledger to ensure accurate account balances. Formulating action plans to resolve aged balances.
• Resolve any issues or answer queries regarding the reinsurers’ statements, certificates, or related entries in the reinsurance premium and loss systems.
• Preparation of monthly and quarterly ceded reinsurance financial reports as needed. Provide commentary on various reports for senior management.
• Ad hoc requests from internal and external customers (i.e. audits).

Job description

Relationship and Scope

The position requires extensive knowledge of reinsurance accounting, contracts, and procedures. The candidate will use this knowledge to unravel complex reinsurance issues by identifying the technical issues and completing detailed reconciliations that provide a resolution.

Responsibilities Include

• Prepare, disburse, and settle monthly and quarterly accounts in accordance with the contract agreement leveraging process automation.
• Work internally and with third parties to verify receipt of billings, initiate collection of open balances in accordance with established procedures, respond to queries, resolve receivable and payable discrepancies, and elevate unresolved collection issues.
• Monthly review of the reinsurance premium and loss sub ledger to ensure accurate account balances. Formulating action plans to resolve aged balances.
• Resolve any issues or answer queries regarding the reinsurers’ statements, certificates, or related entries in the reinsurance premium and loss systems.
• Preparation of monthly and quarterly ceded reinsurance financial reports as needed. Provide commentary on various reports for senior management.
• Ad hoc requests from internal and external customers (i.e. audits).