Staff Accountant

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

Job summary

Internationalinsuranceprofessionals is seeking a Reinsurance Accountant to manage monthly and quarterly close, reconcile receivables and payables, and prepare ceded reinsurance reports. The role requires knowledge of reinsurance contracts and strong analytical skills.

The candidate will interact with internal teams and external partners to ensure accurate financial statements, respond to audits, and drive process improvements in the accounting cycle.

Qualifications

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

Responsibilities

• Prepare, disburse, and settle monthly and quarterly accounts per contract.
• Verify billings, collect open balances, resolve discrepancies with internal and external parties.
• Review reinsurance premium and loss sub ledgers for accurate balances.
• Resolve issues regarding reinsurers' statements and related entries.
• Prepare monthly and quarterly ceded reinsurance financial reports and provide commentary.
• Handle ad hoc audits and inquiries from stakeholders.

Skills

Reinsurance accounting

Financial reconciliation

Monthly close

Education

Bachelor's degree - 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