Staff Accountant

Quest Oracle Community; Philadelphia (Philadelphia County); On-site; USD 60,000 - 85,000; Full time

Job summary

Quest Oracle Community is seeking a professional with a background in reinsurance accounting to manage monthly and quarterly accounts, verify billings, and coordinate collection of open balances.

The role includes reviewing premium and loss sub-ledgers, preparing ceded reinsurance reports, and responding to inquiries from internal and external stakeholders. A Bachelor's degree in Accounting/Finance/Business and 1–3 years of experience are required or desirable, with CPCU/ARe helpful.

Qualifications

• Bachelor's degree in Accounting/Finance/Business required or equivalent.
• 1–3 years of reinsurance accounting experience.
• Insurance designations such as ARe / CPCU desirable.

Responsibilities

• Prepare, disburse, and settle monthly and quarterly accounts per contract agreements with automation.
• Verify receipt of billings and collect open balances; resolve discrepancies with internal/external parties.
• Review reinsurance premium and loss sub-ledger monthly; develop action plans for aged balances.
• Resolve inquiries about reinsurers' statements, certificates, or related entries.
• Prepare monthly/quarterly ceded reinsurance financial reports and provide commentary to senior management.
• Handle ad hoc requests from internal and external customers (audits).

Skills

Reinsurance accounting

Education

Bachelor's degree in Accounting/Finance/Business

Job description

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).

QUALIFICATIONS

• Bachelor's degree - Accounting/Finance/Business
• Insurance designations (such as ARe / CPCU) desired
• One to three years of reinsurance accounting experience