Reinsurance AR Accountant

As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people . At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions. Job Description Are you looking for your next opportunity? Sompo has a unique opportunity for a Ceded Treaty AR Accountant in our Ceded Reinsurance team. Sompo's Ceded Reinsurance team is a globalized customer focused, dedicated and professional organization. The team is responsible for the purchasing and management of Ceded Reinsurance placements. The Ceded Accounting staff will provide accurate and timely production of financial statements, production reports, client receivables/payables and be actively involved in cash processing, collection and disbursement as well as any ad-hoc project requests. Additionally, be able to identify and research issues arising from processes and producing/communicating results in an accurate and timely manner, in order to achieve department standards and meet service level expectations. The Ceded team structure align to the front-end business functions of Property, Casualty, Specialty, Retrocession, and Multinational. The position will report to a Ceded Reinsurance Accounting Manager aligning with one of the business functions noted above. The role will be the active liaison between the Ceded Treaty accountants and their counterpart in our Ceded Cash team. Location: This position will be based out of our New York City (1221 Avenue of the Americas) office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers. What you'll be doing: AR Accounting, working within a team of Ceded Re accountants, the role entails bordereau statement creation and issuance with reinsurers and broking partners. Ensure timely and accurate settlement (payment and collection) of all Ceded Reinsurance Account Statements balances. Handle aged balance management, ensuring Over 90 balances and greater are kept within determined thresholds; including documentation and support for disputes and write-offs. Ensure sub-ledger is complete and up to date, and follow all internal requests and established processes within the Ceded Cash team. Research and resolve historic cash items that relate to your accounts. Compliance and Tracking Track and meet weekly, monthly KPI metrics. Help to ensure SOX compliance relating to Key Controls and Processes for Cash and interface with Ceded Operations, Finance as well as Audit. Assist in solving client issues resulting from questionable balances, and includes working across external and internal parties, including Insurance Ops (FSRI facultative booking team), IT and Underwriters to name a few. Work with the Ceded cash team, to support a suggested bad debt reserve for any Ceded Premiums or Losses. Ad Hoc tasks What you'll bring: Bachelor's Degree in Accounting or equivalent combination of education and work experience. Accounting knowledge and AR/AP subledger background is preferred. Prefer a solid understanding of accounting procedures, internal and external reporting and variance analysis Working knowledge of systems and technology utilized within area of responsibility. SAP-GL, FSRI and FSCD experience preferred. Collaborate with internal and external customers; understand the needs and goals of a customer and actively look for ways to meet them. Excellent verbal and written communication skills, and team player Ability to think intuitively and work independently. Detail oriented, organized, and strong problem solver with analytical abilities and have a high level of accuracy as well as have an ability to prioritize and manage expectations. Ability to work in a fast paced, high volume team environment with rapidly changing priorities and demands Desired personal qualities include: energetic, resourceful, hardworking, self-motivated, and highly organized. Salary Range: $65,000 - $130,000 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience. At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees. Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance. We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs: Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution Pharmacy benefits with mail order options Dental benefits including orthodontia benefits for adults and children Vision benefits Health Care & Dependent Care Flexible Spending Accounts Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children Company-paid Disability benefits with very competitive salary continuation payments 401(k) Retirement Savings Plan with competitive employer contributions Competitive paid-time-off programs, including company-paid holidays Competitive Parental Leave Benefits & Adoption Assistance program Employee Assistance Program Tax-Free Commuter Benefit Tuition Reimbursement & Professional Qualification benefits In today's world, what do we stand for? Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo. Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone's unique contributions - we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.

Created: 2024-11-12