Senior Manager, Reinsurance Accounting

About the role

The Manager, Reinsurance Accounting is a key member of AIG’s Reinsurance Controllership team. This role ensures accurate accounting, robust internal controls, and timely financial reporting for AIG’s domestic Commercial and Personal insurance businesses.

Responsibilities

• Manage execution of key accounting and operational controlling requirements associated with a prominent, bespoke third-party program with a Lloyds reinsurer, including timely identification and billing of eligible XOL recoveries, calculation and accounting for ceding commissions, coordination with Reinsurance Collection group on issuance of statement of accounts to brokers, preparation of summary for review and presentation to leadership, and provide analytical insight into activity in the reporting period.
• Manage the financial and operational accounting for global catastrophe reinsurance programs under a range of contractual structures and across all open contract years, preparing statements of account and ensuring timely settlements in conjunction with global Treasury operations.
• Ensure timely identification and responsiveness to accounting for less structured or predictable transactions, including cash calls on external reinsurance, reinstatement premiums on current and prior years' loss activity, recording and applying cash on retrospectively rated reinsurance contracts, etc.
• Global oversight of Travel Reinsurance activity in support of strategic initiatives related to the book of business, including general ledger oversight, coordination with Reinsurance collection on billing and cash application.
• Support the audit process with external and internal auditors.

Qualifications

• Bachelor’s degree in accounting required, CPA preferred.
• Minimum of 7 years of relevant professional experience, particularly leading teams in a controller capacity for a public P&C insurance company.
• Advanced knowledge of reinsurance operations, including underwriting, claims, accounting, finance and associated process, controls and systems; re/insurance-relevant professional designation a plus (ARe, CPCU, etc.).
• Strong insurance-technical accounting expertise, possessing a comprehensive understanding of inter-relationships between balance sheet and income statement, with 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 leveraging 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.
• 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.