Supervisory Accountant, Reinsurance

AIG PC Global Services, Inc.; Wilton (CT); On-site; USD 89,000 - 112,000; Full time

Benefits offered by this job

Total Rewards Program

Office environment

Job summary

American International Group, Inc. (AIG) seeks a Supervisory Accountant, Reinsurance, to join the Reinsurance Controllership team. You will ensure accurate accounting, strong internal controls, and timely reporting for external reinsurance programs.

Reporting to the Manager, External Reinsurance, you will manage monthly close processes and respond to management inquiries. Responsibilities include coordinating cessions, journal entries, premium adjustments, and cash applications with offshore and

Qualifications

• Bachelor’s degree in accounting required, CPA preferred.
• Minimum of 5 years of relevant professional experience, particularly leading teams in a controller capacity for a public P&C insurance company.
• Strong knowledge of reinsurance operations, including underwriting, claims, accounting, finance and associated process, controls and systems.
• Strong insurance-technical accounting expertise, with an understanding of inter-relationships between balance sheet and income statement.

Responsibilities

• Coordinating excess of loss and quota share cessions and/or related premium adjustments on numerous reinsurance programs across multiple lines of business.
• Allocations of deposit premiums on excess of loss contracts at a detailed code block level.
• Creating/reviewing journal entries on a monthly basis; Calculation of premium adjustments.
• Coordinating with Reinsurance Collections on settlements and cash application.
• Monthly processing of assumed reinsurance programs based on SOA, including retrocessions.

Skills

Reinsurance knowledge

SOX controls

Journal entries

Financial reporting

Education

Bachelor's degree in accounting

Job description

The Supervisory Accountant, Reinsurance, is a key member of AIG’s Reinsurance Controllership team ensuring accurate accounting, robust internal controls and timely financial reporting for AIG’s reinsurance programs. Reporting to the Manager, External Reinsurance, this role is primarily responsible for execution of financial and operational controlling activities associated with administration of external excess of loss and quota share reinsurance programs and involves direct engagement with an extensive offshore platform.Success in this role will require an ability to accurately and timely process reinsurance related activities in the sub-ledger/general ledger to meet monthly close deadlines, demonstrate an appropriate level of understanding of assigned reinsurance programs, and clearly and effectively respond to inquiries from management.Key Responsibilities:Coordinating excess of loss and quota share cessions and/or related premium adjustments on numerous reinsurance programs across multiple lines of business, including but not limited to:Perform allocations of deposit premiums on excess of loss contracts at a detailed code block levelCreating/reviewing journal entries on a monthly basisCalculation of premium adjustmentsCoordinating with Reinsurance Collections on settlements and cash applicationPerforming reviews in compliance with SOX controlsSupport responses to reinsurer inquiries by performing research and analysisSupporting CFO and FP&A teams in answering questions on reinsurance activities for specific reinsurance programsMonthly processing of assumed reinsurance programs based on SOA, including any applicable retrocessionsReview of Schedule F Part 3 for recoverable, payable and funds held balances related to reinsurance programsQualifications:Bachelor’s degree in accounting required, CPA preferredMinimum of 5 years of relevant professional experience, particularly leading teams in a controller capacity for a public P&C insurance companyStrong knowledge of reinsurance operations, including underwriting, claims, accounting, finance and associated process, controls and systemsStrong insurance-technical accounting expertise, with an understanding of inter-relationships between balance sheet and income statement, and an ability to analyze results accordinglyIndustry business acumen along with a clear understanding and awareness of global macroeconomic and other relevant factors impacting the business that manifest in financial resultsExperienced in leveraging a combination of onshore and offshore management and staff resources on a global basis, maximizing the benefits of time zone differences to enhance productivityStrong interpersonal skills and an ability to communicate and collaborate effectively with individuals across Finance and operational disciplines towards a common purpose; commercially oriented, carrying credibility with a business unit and broader Finance organizationSystems-technical acumen, able to quickly grasp management reporting structures, understand a newly transformed finance architecture and financial reporting platform, and determine how to extract maximum value in execution of the financial closeStrong attention to detail, where accuracy and precision are critical to success, yet possessing an ability to step back and appreciate broader objectives around effective communication and the inter-relationship across finance and operations teamsAble to operate successfully and thrive in a dynamic, transformational environment, where change is embraced and viewed as an opportunity for one’s own professional development and to drive process improvement for the team and broader organizationFor positions based in New Jersey, the base salary range is $89,000-$112,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. Your actual compensation will be dependent on your skills, experience, and qualifications. In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: US BenefitsAt AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.Enjoy benefits that take care of what mattersAt AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.Reimagining insurance to make a bigger difference to the worldAmerican International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.Welcome to a culture of inclusionWe’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The talent of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please send an email to [e-mail] Area:FA - FinanceAIG PC Global Services, Inc.