Senior Reinsurance Accountant

1 week ago

London, Greater London, United Kingdom AXA Group Full time
About the Role

AXA XL is seeking a highly organized and analytical Senior Reinsurance Accountant to join the Ceded Reinsurance Team in a dynamic and agile workspace.

Key Responsibilities
  • Manage reinsurance programs to ensure accurate accounting and compliance with regulatory requirements.
  • 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 from reinsurers.
  • 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 to accurately impact business unit financial results.
  • Manage global ceded recoveries, including multi-system/manual calculations of global claim aggregation/exhaustion, actuarial allocation to multiple systems of claim recoveries, reinstatement premiums, and monitoring of AAD (Annual Aggregate deductibles).
  • Responsible for month-end, quarter-end, and year-end closing processes of assigned reinsurance programs for all relevant systems technical accounts.
  • Communicate and resolve issues with business units' finance teams and reinsurance intermediaries impacting efficient execution of ceded reinsurance programs.
  • 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.
  • Manage daily activity with regards to collateral decreases and withdrawals, ensuring clients receive proper communication and documentation regarding Letters of Credit, trust accounts, and funds withheld.
  • 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 (ProCede, WINS, CH GENIUS, Hartford GENIUS, The Frame, Global Claims System, Documentum).
About AXA XL

AXA XL is the P&C and specialty risk division of AXA, known for solving complex risks. We combine a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business.

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 is required.
  • 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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