Reinsurance CTS Accountant II

POSITION SUMMARY:The Reinsurance CTS (Client Technical Services) Accountant-II will professionally and efficiently service reinsurance accounting and claims activity on behalf of ceding companies, program managers, and reinsurers within compliance of laws, regulations and policies, with sufficient transparency and appropriate internal controls to ensure the resources are efficiently applied to meet organizational goals and objectives.This individual will act as a liaison by interacting with and aiding external clients and reinsurers and also providing assistance to internal clients and corporate accounting.This position may have supervisory responsibilities.RESPONSIBILITIES:Processes reinsurance accounting functions for assigned accounts including premium and claims reportsProvides back up coverage for reinsurance accounting functions on assigned accounts and as neededUnderstands reinsurance contract terms and verifies premiums and claims are transacted accordinglyIdentifies key contract terms and input into the accounting and claims system. Identifies and resolves differencesMonitors contractual reporting and payment due dates and requests premiums and reporting from clients to ensure timely receiptReviews client accounts and adjustment calculations for accuracy and compliance with contract termsEnters and approves premium and claims transactions in AccountingClaims systemAssists insurance companies with all aspects of reinsurance transactions including preparing reports, performing required calculations, answering questions regarding contract terms and assisting clients with calculation of their Schedule F funding requirements and obtain Letters of Credit from reinsurers, ensuring that all beneficiary requirements are met and documents are received prior to deadlinesMonitors and reconcile ledger balancesCompiles and monitors premium and claim historyCoordinates payments between insurance companies and reinsurersReviews receivable and payable reports to ensure no out of pocket situations ariseReceives initial loss notices, loss status updates and proofs of loss from clients and forward to applicable reinsurersReviews and analyzes claim documentation, confirming coverage under treaty; Identifies key treaty terms such as retention & limit, LAE treatment, loss reporting requirements, loss attachment basis, etc.Reviews and prepares loss calculations to ensure accuracy and compliance with terms of treatyAssists in claim dispute resolution and facilitates recoveriesAssists in claim audits, as needed, in obtaining the information necessary for auditReviews open claim status reporting to ensure claims are being settled within terms of treatyAssists in collecting aged balances and processing open cash receiptsCommunicates effectively with internal sales staff and corporate on any unusual accounting or claims situationsPerforms other activities, duties and assignments as needed or requested RequirementsQUALIFICATIONS:Bachelor's degree in Accounting or related field3-5 years' experience in a reinsurance accounting and claims roleExperience in troubleshooting and resolving reconciliation and reporting issuesInsurance industry knowledge and a working knowledge of reinsurance systems (policy & claim) preferredAbility to multi-task and learn quicklyAbility to self-start and research independentlyAbility to handle and resolve conflicts in a professional, tactful mannerExcellent oral and written communication skillsAttention to detail and organizational skillsStrong sense of accountability, comfortable making recommendations and taking accountability for outcomesAbility to meet deadlines in a multi-priority, fast-paced environment both independently and within a team environmentAbility to define problems, collect and analyze data, establish facts, draw valid conclusions and recommend solutionsComputer skills including knowledge of Microsoft Office including Word, PowerPoint and OutlookIntermediate skills in Excel (Formulas, Pivot Tables, Macros) Salary Description $70,000-$85,000

Created: 2025-02-23