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- Lansing, MI
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Reinsurance Accounting Specialist
AF Group • Lansing, MI
Posted 1 month ago
Responsible for performing bookkeeping, regulatory reporting and related support duties for all reinsurance contracts and alternative markets (i.e. assigned risk, fronting arrangements etc.,) within the Enterprise. Contacts include various customers and vendors of the Enterprise, both internal and external, including reinsurers, insured's, claimants, regulatory agencies, and agents. Responsibilities include creating and maintaining accurate, compliant financial records through journal entries, account reconciliations and financial reports for the Enterprise.
- Prepares monthly and quarterly bordereaux reports and invoices on behalf of Accident Fund and all subsidiaries for reporting to and requesting reimbursement from reinsurers.
- Prepares all monthly and quarterly journal entries related to reinsurance billings, receivables, recoverables, ceded premium and losses for entities in the enterprise.
- Prepares allocation worksheets for purposes of assignment of balance sheet and income statement amounts to each subsidiary.
- Reconciles various general ledger accounts, proposing and making independent general ledger entries when necessary.
- Compiles and maintains various financial schedules and reports for all entities, including both regulatory and external.
- Assists in the preparation of Statutory Schedule F statements for all entities.
- Prepares complex external reporting with regulators, external customers, and NCCI.
- Completes ad hoc requests from various internal and external customers, through system analysis and review; including, but not limited to, error resolution, system support and financial statement support.
- Supports both external and internal audits of financial, tax and regulatory financial reports and filings by providing detail schedules and support as requested.
- Proposes efficiency opportunities or makes recommendations for improvements.
- Performs standard quality assurance reviews on Accounting transactions, with subsequent communication to management on control weaknesses or other issues.
- Prepares, maintains and verifies data accuracy in ancillary systems; conducts appropriate audits where applicable.
- Responds to internal and external customer requests via telephone or written correspondence. Correspondence is drafted as required to address complaints or information requests.
- Maintains confidentiality of information processed.
A. EDUCATION REQUIRED:
Minimum of an Associates degree in Accounting with a minimum of 30 credit hours of coursework in Accounting. Combinations of relevant education and work experience may be considered in lieu of a degree and credit hours.
Bachelor's degree in Accounting or Finance and three years experience in accounts receivable, general ledgers and financial reporting systems. Two years experience with insurance accounting required.
B. EXPERIENCE REQUIRED: Minimum five years experience in accounts receivable, general ledgers and financial reporting systems or equivalent work which provides the necessary skills, knowledge and abilities includingthree years experience with insurance accounting required.
C. SKILLS/KNOWLEDGE/ABILITIES (SKA) REQUIRED:
- Ability to perform mathematical calculations with the ability to use a ten-key pad with accuracy.
- Ability to manage multiple priorities and meet established deadlines.
- Thorough knowledge of general accounting and bookkeeping methods including journal entries, general ledger accounts, cost center structures, budgets and basic financial statements.
- Knowledge of insurance accounting transactions and processes.
- Ability to proofread documents for accuracy of calculations.
- Ability to effectively exchange information clearly and concisely, and present ideas, report facts and other information and respond to questions as appropriate.
- Ability to analyze details of accounting data and reports and, based on this analysis, make efficient and effective independent decisions within authority.
- Ability to apply independent analytical thinking to define problems, establish facts and communicate valid conclusions.
- Excellent organizational skills and ability to prioritize work.
- Excellent oral and written communication skills
- Basic knowledge of word processing, database and other desktop software.
- Basic knowledge of computers.
- Advanced knowledge of spreadsheet software.
- Ability to proofread documents for accuracy of spelling, grammar, punctuation, and format.
- Ability to enter alpha/numeric data accurately.
- Effective analytical and problem solving skills.
- Ability to use diplomacy, discretion and appropriate judgment when addressing callers.
D. ADDITIONAL EDUCATION, EXPERIENCE, SKILLS, KNOWLEDGE AND/OR ABILITIES PREFERRED:
- Bachelor's degree in accounting.
- Experience with multiple entity accounting and reinsurance accounting.
Work is performed in an office setting with no unusual hazards.
Math, Proofreading, Basic Word, Advanced Excel, Basic Access, Intermediate Windows, Alpha Numeric, 10-key, Reading Comprehension