Senior Accountant

Chubb; Philadelphia (Philadelphia County); On-site; USD 65,000 - 90,000; Full time

Job summary

Chubb in Philadelphia seeks an experienced reinsurance accounting professional to manage complex reconciliations and end-to-end monthly/quarterly closings. You will work with internal teams and external partners to ensure accurate premium and loss reporting and timely resolution of issues.

The role emphasizes strong analytical skills, attention to detail, and adherence to established procedures for ceded reinsurance, with collaboration across departments and external auditors.

Responsibilities

• Prepare, disburse, and settle monthly and quarterly accounts in accordance with the contract leveraging process automation.
• Verify receipt of billings with internal and third parties; initiate collection of open balances; respond to queries; resolve discrepancies.
• Monthly review of the reinsurance premium and loss sub ledgers to ensure accurate account balances; formulate action plans for aged balances.
• Resolve issues or queries regarding reinsurers’ statements, certificates, or related entries in the premium and loss systems.
• Prepare monthly and quarterly ceded reinsurance financial reports; provide commentary for senior management.
• Ad hoc requests from internal and external customers (e.g. 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).