AmTrust Financial Services
Jersey City, New Jersey
Financial Services, Accounting
Support the reinsurance accounting functions across AmTrust Financial Services with a focus on driving efficiency and consistency across all groups. Assist with US GAAP and US Statutory reporting, internal management reporting and the design and execution of internal controls. Support the Finance Transformation initiatives and related process improvements and impact to the culture.Responsibilities
- Assist with the accounting, preparation & reporting for all assumed and ceded reinsurance programs both domestically and internationally (various office locations).
- Participate with the documentation of proper accounting for all reinsurance transactions, i.e., reinsurance versus deposit accounting.
- Participate with the calculation and review for the quarterly and annual US Statutory and US GAAP financial reporting for reinsurance balances and disclosures.
- Prepare the reconciliation of reinsurance accounts to supporting ledgers and ensure proper documentation.
- Participate with maintaining an inventory of intercompany reinsurance agreements and ensure proper accounting, including elimination for US GAAP reporting.
- Support the relationship between the Company and its assumed and ceded / internal and external reinsurance partners.
- Responsible for adherence to the company's framework of internal controls, including design and execution of reinsurance related controls.
- Drives consistency/best practices across the segment and seeks out potential areas of improvement (for example, workflow, automated processes, etc.) and not intimidated to sharing ideas.
- Proven ability to challenge the status quo and lead change management.
- Participates in various departmental project teams.
- Participate in developing and mentoring others to assure professional growth and knowledge sharing based on your experiences. Strong understanding of insurance/reinsurance accounting activities as it relates to premium, loss, funds held, deposit accounting, collateral, cash allocations and recoveries.
- 5 years or more of Reinsurance Technical Accounting experience.
- Bachelors degree in Business, Accounting or Finance.
- Organizational and analytical skills.
- Experience with reinsurance contract terms and structures
- Excellent interpersonal and communication skills.
AmTrust Financial Services, Inc. was founded in 1998 to provide property and casualty insurance to small businesses. Through acquisitions and organic growth, AmTrust Financial Services has since grown to become a multinational property and casualty insurer specializing in coverage for small to mid-sized businesses. Our financial stability is based upon a philosophy of niche diversity with a focus on low-hazard risk.
Since its inception, AmTrust has crafted a balanced portfolio of insurance products including:
- Multiline Small Business Insurance
- Warranty and Specialty Risk Insurance
- Specialty Program Business Insurance
In November 2006, the company became publicly traded on the NASDAQ Global Market under the symbol AFSI. With extensive underwriting experience and a prestigious "A" (Excellent) Financial Size "XI" rating from A.M. Best, AmTrust has earned a reputation as an innovative, technology driven provider of insurance products. Our commitment to excellence is the common thread connecting each of our businesses.