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Philadelphia,
PA
(Click company name to view employer profile and all available
positions.) |
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Career Field |
Accounting/Financial
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| Insurance
Discipline |
Property & Casualty
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| Relocation
Assistance |
Not Available
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| Job
Duration |
Full Time |
| Salary
Offered |
Open |
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ACE INA is the U.S. –based division of the ACE Group of Companies, which provides insurance and reinsurance for a diverse group of clients around the world. Through subsidiaries of the ACE Group of Companies, ACE INA offers a broad array of sophisticated property, casualty, accident and health, and financial products, and risk management services to corporate and consumer clients across the U.S. A global insurance & risk management company, ACE has offices in over 50 countries and doing business in 130 countries.
ACE offers a competitive salary plus cash bonus, equity opportunities and comprehensive benefits package including life, health and dental, vision, a generous retirement savings plan with company match, disability coverage, stock purchase plan, flexible spending accounts, and tuition reimbursement.
JOB SUMMARY
Responsible for the Statutory Reporting of assumed and ceded reinsurance. This specifically includes the preparation of the Annual Statement Schedule F’s, and all related disclosures for all ACE statutory filing companies. This also includes all quarterly filing requirements, and the preparation of an interim Schedule F.
RELATIONSHIP AND SCOPE
This position reports to the ARS Manager of Finance - SAP. Will need to interact effectively with other areas of ARS; Corporate Accounting; Systems; Treasury; Business Units; and Actuarial.
DUTIES AND RESPONSIBILITIES
1. Annual Statutory Reporting of Reinsurance Balances
Complete preparation of the Statutory Annual Statement Schedule F in compliance with all Financial Reporting requirements. This includes all statutory disclosures related to reinsurance recoverables.
• Gain a full understanding of Schedule F process, and take ownership of the process.
• Determine the extent of authorized and unauthorized Schedule F penalties and work with the manager to develop action plans to reduce the penalties.
• Assist manager in addressing all Schedule F reporting issues.
• Work with claims analysts to reduce authorized penalty. This includes monitoring outstanding recoverables during the 4th quarter, and ensuring disputed balances are appropriately coded.
• Provide analysis and support to Financial Reporting group as required.
• Keep documentation of Schedule F process up to date.
• Significant overtime required during the months of January and February.
2. Completion of Schedule F using data at interim periods
Prepare all the statutory Schedule F documents using interim period data as necessary. Run the entire year-end process to identify potential issues that may be encountered at year-end. Prepare a list of all issues, and work to resolve the issues prior to year-end reporting.
3. Respond to all internal and external requests for Statutory Ceded and Assumed information.
4. Respond to all requests from Auditors (internal and external) during the statutory audit process, and examiners during the state exams.
5. Assist Manager with projects
On an as needed basis, assist manager with any special projects that may arise. This includes, but is not limited to, spreadsheet preparation, internal and/or external communications, systems issues, ad-hoc reports, etc.
MINIMUM QUALIFICATIONS
• Four year degree in Business, with a major in Accounting or Finance, or relevant industry experience.
• Strong organizational skills and proven ability to work independently.
• Ability to identify priorities and reschedule tasks as appropriate.
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