Strategic Accounting Program Manager, Reinsurance

GENERAL PURPOSE OF THE JOB:   

The Reinsurance Accounting Program Manager is responsible for the accounting and reporting of our reinsurance treaties, including ensuring complete and accurate reporting to our reinsurance partners and within our financial statements. The incumbent is involved in the negotiation and onboarding of new reinsurance treaties and ongoing monitoring of compliance with existing reinsurance treaties.

ESSENTIAL DUTIES AND RESPONSIBILITIES:  

• Manages all ongoing reinsurance reporting and settlement administration, including detailed review of monthly and quarterly settlement statements and related journal entries.
• Analyzes GAAP, Stat and Regulatory financial results of the various reinsurance treaties and works with other members of finance to explain such results to executive management.
• Reviews financial statements of reinsurance captives including any regulatory reporting for such captives.
• Validates and coordinates the completion of required reporting for any 3rd party sidecar reinsurance vehicles.
• Manages all inbound and outbound requirements ensuring adherence to treaty requirements, creating efficient processes to ensure all aspects are executed accurately and timely.
• Executes and documents internal controls around reinsurance processes and enhancement of those controls.
• Participates in the execution of new reinsurance treaties by providing insights to members of the Finance, Treasury, Investments, Legal, and Actuarial teams.
• Provides project support as required, including, but not limited to reinsurance, legal entity, regulatory and business transaction analysis.
• Works closely with the Information Technology department to automate data collection and reinsurance processes, reporting, and overall management of the function including potential review of an outsourced automated system.
• Works cross-functionally to ensure the efficient and accurate onboarding of new reinsurance transactions.
• Consults with the legal team to ensure appropriate AEL requirements are included in legal documents.
• Reviews and interprets regulations and provides technical reinsurance accounting guidance in conjunction with the accounting policy team.
• Contributes to the establishment of department functional policies, practices, and procedures and initiates and implements process improvement initiatives.
• Performs other related work as assigned. 

SUPERVISORY RESPONSIBILITIES: 

Direct Reports:

None

General Description of Indirect Reports (2 and 3-downs): 

None 

EDUCATION AND/OR EXPERIENCE:  

Bachelor’s degree in Accounting, Finance or related field of study; plus six (6) years of progressively responsible related Financial Reporting, Reinsurance and/or accounting policy experience; or equivalent combination of education and/or experience. 

CERTIFICATES, LICENSES, PROFESSIONAL DESIGNATIONS:

Certified Public Accountant (CPA) preferred.

KNOWLEDGE, SKILLS AND ABILITIES:    

• Understanding of and experience with reinsurance transactions.
• In-depth knowledge of the accounting for life insurance and annuity products.
• General knowledge of industry standards and best practices around accounting for reinsurance transactions.
• Working knowledge of US GAAP, Bermuda EBS, and BSCR, reporting standards and requirements.
• Understanding of the COSO framework.
• Possess strategic and analytical problem-solving skills.
• Ability to work with cross-functional teams to achieve desired outcomes.
• Highly motivated and demonstrated ability to take initiative.
• Understanding of public company financial statement preparation process.
• Effective verbal and written communication skills.
• Strong attention to detail.
• Ability to work cooperatively and successfully with employees, customers, and other outside third parties.
• Strong organizational and planning skills.
• Proficient in the use of Microsoft Office Suite.
• Ability to successfully handle pressure and meet deadlines in a fast-paced work environment.