Accountant III, Reinsurance

The Reinsurance Accountant is a key member of AIG’s Reinsurance Controllership team ensuring accurate accounting, robust internal controls and timely financial reporting for AIG’s domestic Commercial and Personal insurance businesses.  Reporting to the Manager, External Reinsurance, this role is primarily responsible for execution of financial and operational controlling activities associated with administration of external excess of loss and quota share reinsurance programs, and involves direct engagement with an extensive offshore platform.

Success in this role will require performing assigned responsibilities accurately and timely in order to meet monthly reporting deadlines, clearly and effectively communicate status updates to management, developing an understanding of reinsurance programs, and liaise with other groups at AIG to support the leadership team. 

Key Responsibilities:

• Processing excess of loss and quota share cessions reinsurance programs across multiple lines of business, including but not limited to:

  • Perform allocations of deposit premiums on excess of loss contracts at a detailed code block level

  • Creating journal entries on a monthly basis

• Coordinating with Reinsurance Collections on settlements and cash application

• Support responses to reinsurer inquiries by performing research and analysis

• Monthly processing of assumed reinsurance programs based on SOA, including any applicable retrocessions

• Prepare components of Schedule F Part 3 for recoverable, payable and funds held balances related to reinsurance programs

Qualifications:

• Bachelor’s degree in accounting required, CPA preferred

• Minimum of 3 years accounting and/or financial reporting experience, with knowledge of reinsurance

• Working knowledge of reinsurance operations, including underwriting, claims, accounting, finance and associated process, controls and systems

• Insurance-technical accounting expertise, with an understanding of inter-relationships between balance sheet and income statement, and an ability to analyze results accordingly

• Industry business acumen along with a clear understanding and awareness of global macroeconomic and other relevant factors impacting the business that manifest in financial results

• Experienced in collaborating with a combination of onshore and offshore management and staff resources on a global basis, maximizing the benefits of time zone differences to enhance productivity

• Strong interpersonal skills and an ability to communicate and collaborate effectively with individuals across Finance and operational disciplines towards a common purpose; commercially oriented, carrying credibility with a business unit and broader Finance organization

• Systems-technical acumen, able to quickly grasp management reporting structures, understand a newly transformed finance architecture and financial reporting platform, and determine how to extract maximum value in execution of the financial close

• Strong attention to detail, where accuracy and precision are critical to success, yet possessing an ability to step back and appreciate broader objectives around effective communication and the inter-relationship across finance and operations teams

• Able to operate successfully and thrive in a dynamic, transformational environment, where change is embraced and viewed as an opportunity for one’s own professional development and to drive process improvement for the team and broader organization

For positions based in New Jersey, the base salary range is $81,000-$102,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits

At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.

Enjoy benefits that take care of what matters

At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial