Outwards Reinsurance Accounting

Job Title:Outwards Reinsurance Accounting
Corporate Title: Assistant Vice President
Location: London (Hybrid)
Role Objective:
Manage the US ceded Reinsurance Accounting functions.
Key Responsibilities:
Strategy and Planning:

• Contributes to, monitors and advises on the plan developments and changes in order to ensure relevancy, compliance and optimal delivery
• Assists in the preparation and implementation of the operational team plans to ensure these are in line with wider business strategy and reflect key priorities
• Determines own work priorities and activities in line with agreed plans to ensure the achievement of the function's objectives
• Benchmarking of delivery to plan objectives
• Management team feedback
• Alignment, and engagement of team to tactical goals
• Relevancy, accuracy and timeliness of contribution/advice
• Priorities aligned to tactical and wider strategic plans

Policy, Process and Procedures:

• Assist in development and implementation of internal controls and development and documentation of accounting policies and procedures
• Review relevant Accounting regulations (ie. FASB, SAP, etc) and assess our compliance
• Ensure company, market and client related documentation is issued (internally and externally) accurately and on time where applicable
• Comply with external and internal regulatory and statutory policies, procedures and regulations
• Timely and accurate completion of data input, reporting and analysis
• Ensures data accuracy and integrity and reflective of organizational hierarchies
• Positive/constructive feedback by colleagues
• Compliant with external and internal regulatory and statutory policies, procedures and regulations including the Aspen Code of Business Conduct and Ethics

Environmental Awareness/Customer Focus:

• Support internal and external audit requests; Respond to all audit queries in a timely, accurate manner
• Liaise with the actuarial, claims and U.K. ceded and finance teams to ensure the timely and accurate reporting of reinsurance recoverables
• Liaise with relevant and associated areas and groups within the business process to establish, support and maintain business relationships and organizational effectiveness
• Participate and undertake applicable professional, technical and career development training (delivered internally and externally) to include attainment of associated qualifications where required
• Positive/constructive feedback by business leaders and colleagues

Technical Performance:

• Manage all aspects of US ceded Reinsurance Accounting
• Assist in leading and providing oversight of ceded reinsurance staff including the U.K. Ceded Accounting (ORA) team as needed
• Review and interpret financial components of reinsurance treaties
• Manage the review, recording and intercompany settlement of US portion of all Group Treaties
• Monitor the financial results of Group treaties
• Assist in managing the US Collateral needs and reporting
• Assist in managing the US related billings, collections and payments handled by the UK team as needed
• Review and/or prepare general ledger journal entries for GAAP & STAT
• Prepare and review statutory quarterly and annual statement exhibits including notes
• Involvement in monthly/quarterly management reporting, reporting to U.K. parent and quarterly board and external reporting
• Assist in development and implementation of internal controls and development and documentation of accounting policies and procedures
• Review relevant accounting regulations (ie. FASB, SAP, etc) and assess our compliance
• Timely and accurate reporting
• Strong analysis and understanding demonstrated from data
• Clear and concise commentary provided for management reports
• Attention to detail and ensuring data integrity

People Management:

• Build a strong culture of accountability and performance in order to ensure delivery of goals
• Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives
• Clear statement of roles and responsibilities within the business
• Timely completion of Performance & Development plans mid-year and end of year review as a minimum standard
• Positive feedback on people management from team and business
• Regular one-to-one meetings with team members
• Actively mentors team members in order to assist their personal development
• Actively participate and contribute in team meetings and team deliverables, supporting and working collaboratively with colleagues
• Partake in professional and/or technical training
• Demonstrates willingness to upskill, learn and develop as needed to perform duties

Requirements & Skills:

• Bachelor's degree in Accounting or Finance
• 7+ years related experience
• Property and Casualty insurance industry required
• Background in Ceded Accounting / Outwards Reinsurance
• Relevant automation skills / automation experience would be beneficial
• Advanced working knowledge of MS Excel
• Procede System knowledge a plus
• Reinsurance Collateral management experience a plus
• Ability to work independently with minimum supervision
• Must have working knowledge of GAAP and STAT reporting fundamentals
• Excellent analytical, problem solving, customer service, oral and written communication skills

Our Recruitment Delivery Team are committed to offering an inclusive recruitment experience to all candidates. If you require any accommodations or adjustments as a result of disability, impairment, or health condition, please do not hesitate to let me know by emailing gscemeaedi @ resourcesolutions .com