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Reinsurance Accountant

Employer
ICW Group
Location
San Diego, California
Salary
Not Specified
Closing date
Nov 16, 2019

View more

Category
Reinsurance, Accounting
Job Type
Not Specified
Career Level
Not Specified

Job Details

ICW Group is looking for a strong Accountant to oversee reinsurance transactions in support of the company’s financial growth goals. Not well-versed in reinsurance? No problem! We'll provide the proper training to the right person so you become the subject matter expert. The is a new role within our company and a great opportunity to join our growing organization!

ABOUT YOUR JOB:

Manage records of reinsurance transactions and handles the related receivables and payables

  • Prepares and monitors the recoverable aging report
  • Interacts with reinsurance brokers and reinsurance companies
  • Works with the claims department, brokers and reinsurance companies to resolve disputed items
  • Processes Unclaimed Property
  • Reviews reinsurance contracts/agreements
  • Audits of past reinsurance files for accuracy and completeness
  • Serves as a backup resource for the Investment Accountant and Accounting Manager as needed

Creates financial statements and reports

  • Prepares ad-hoc reinsurance reports as required by management
  • Assists in the preparation of Quarterly and Annual Statement Schedule F
  • Updates and reconciles all reinsurance related General Ledger accounts
  • Calculates and records quarterly adjustments, such as commuted treaties reserve adjustment reinsurance reserve and uploads changes in ceded reinsurance reserves into SAP

Calculates and records all ceded premium transactions

  • Prepares ceded premium statements and bordereau
  • Pays ceded payables and calculating the annual premium adjustments
  • Calculates and records ceded premium/commission transactions per reinsurance contracts specifications
  • Audits and reconciles the ceded loss transactions entered in the system for accuracy, completeness and compliance with reinsurance contract specifications
  • Collects ceded paid losses / loss expense recoverables
  • Calculates and records all ceded premium transactions

EDUCATION AND EXPERIENCE:

Bachelor’s degree (B.A.) in Accounting, Finance or related field or equivalent from four-year college or technical school; or equivalent combination of education and experience. 3+ years of professional level experience working in an accounting role preferably in the insurance industry. Advanced knowledge of computer applications related to accounting and financial management systems. Requires advanced knowledge of Accounting theory and principles, as well as advanced analytical and quantitative skills.

KNOWLEDGE AND SKILLS:

Comprehensive knowledge of Generally Accepted Accounting Principles and Practices (GAAP) and Financial Accounting Standards (FASB) regulations. Proven ability to communicate effectively both orally and in writing and to interact effectively with management, employees, representatives of federal and state governments and external auditors. Musts have ability to convey complex financial issues to non-financial users. Ability to work independently and meet stringent deadlines. Ability to collect, analyze and summarize data and prepare clear, concise financial reports for complex accounting concepts. Ability to design and produce ad-hoc reports. Advanced skills in Microsoft Office Suite applications.

PHYSICAL REQUIREMENTS

Office environment – no specific or unusual physical or environmental demands and employees are regularly required to sit, walk, stand, talk and hear.

COMPETENCY LEVEL

This position maps to the Individual Contributor level

ADDITIONAL COMPETENCY REQUIRED

None

WORK ENVIRONMENT

The position operates in an office environment and requires the frequent use of a computer, telephone, copier and other standard office equipment.

Company

 

ICW Header

 

Headquartered in San Diego, ICW Group is a multi-line insurer that provides coverage solutions to businesses through a network of independent agents and brokers. ICW Group offers three types of insurance—workers' compensation, earthquake and auto insurance. Known for meeting the needs of its policyholders, ICW Group prides itself on providing service that is truly customer-centric. In recent years, ICW Group has earned a reputation for helping policyholders achieve fewer and less costly claims. The company accomplishes this through extensive risk management expertise, highly proactive claims handling, and aggressive fraud monitoring.

At ICW Group, our focus and passion is offering great insurance products, services and experiences. We honor our commitments to our customers, our communities and each other to ensure that you have a better today and a safer tomorrow. With our home office in sunny San Diego, CA and with 10 branches across the U.S., ICW Group has over 40 years of experience in property and casualty insurance. Our passionate and creative team members are the power behind our successful business. 

A strategic investment in innovation today is critical to our success in the future. Our leaders welcome people who are eager to bring the power of innovation, the willingness to try something different or adopt a new approach or technology as we evolve to meet the needs of our customers and agents. Our culture fosters experimentation in models, processes, and products in an effort to move forward and help shape not only ICW Group’s future but the insurance marketplace as a whole. 

ICW Group is committed to the satisfaction of our customers and recognizes that satisfied, contributing Team Members are the foundation of a superior customer experience. With a team of 880, our enterprise is sized just right to provide broad challenging job responsibilities in a more personal environment. An important part of this personal approach to your success is our commitment to health and wellness. We provide a comprehensive program to help you maintain your total health because we believe that being at your personal and professional best is important to you and your family. 

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