Senior Reinsurance Accountant

1 month ago

London, Greater London, United Kingdom AXA Group Full time
Senior Reinsurance Accountant Job Description

AXA XL is seeking a highly organized and analytical Senior Reinsurance Accountant to join the Ceded Reinsurance Team in London, UK.

Key Responsibilities:
  • Analyze and implement reinsurance treaty agreements to protect Axa XL group, identifying terms and conditions, premium/commission/claim registration, and other attachment criteria.
  • Interact with internal and external personnel, including Actuaries, Senior Underwriters, Ceded Reinsurance Buyers, and Brokers.
  • Manage reinsurance programs, ensuring complex contracts are correctly interpreted and all entities are accounted for in relevant systems.
  • Improve Axa XL's net risk/return profile by sustainably enhancing shareholder value through reinsurance contract setup, ceded premium booking/billing/payment, loss recovery calculation, and recoveries collection.
  • Work closely with the actuarial team to ensure correct reinsurance premium allocation based on global treaty terms.
  • Partner with Ceded Re Buyers and Business Units to prepare and evaluate ceded premium allocation for accurate business unit financial results.
  • Manage global ceded recoveries, including multi-system/manual calculations of global claim aggregation/exhaustion, actuarial allocation to multiple systems, and monitoring of AAD (Annual Aggregate deductibles).
  • Perform month-end, quarter-end, and year-end closing processes for assigned reinsurance programs in all relevant systems.
  • Communicate and resolve issues with business units' finance teams and reinsurance intermediaries.
  • Understand NAIC requirements for Schedule F and New York State Department of Financial Services requirements for insurance company financial statement preparations as it relates to reinsurance transactions.
  • Assist in preparing quarterly Schedule F statements for the insurance segment and submit to CDCA.
  • Manage collateral process to ensure proper collateral is in place at year-end for statutory reporting requirements and reduction of Schedule F penalties.
  • Develop, recommend, and implement continuous improvements to processes, reports, and technology solutions.
  • Train the offshore team.
  • Perform monthly data quality/verification process and explain any discrepancies found.
  • Acquire and command knowledge of systems used within the company.
Requirements:
  • Bachelor's Degree in business, finance, accounting, or a related area.
  • Modest to extensive reinsurance accounting experience required.
  • Experience in Finance and/or Reinsurance industry or equivalent combination of training and experience.
  • Knowledge of various forms of reinsurance, specifically XOL contracts as relates to loss application and calculation.
  • Understanding of functions pertaining to ceded reinsurance accounting.
  • Successful completion of industry professional designations – CPCU, AIAF, or ARe preferable.
  • Excellent written and oral communications skills.
  • Proven efficiency in ability to multitask, with attention to detail.
  • Proficient in Microsoft Office (Excel, Word, Access). Knowledge of SQL is preferred.
  • Excellent research and analytical skills, robust financial reconciliation skills.
  • Display excellent customer relation skills, as well as result-driven.

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