Senior Ceded Reinsurance 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
We are seeking a Senior Ceded Reinsurance Accountantfor our New York City, NY office.
Sompo International's Ceded Reinsurance team is a global customer focused, dedicated and professional organization. The team is responsible for the purchasing and management of internal and Ceded Reinsurance placements. The Sr. Accounting staff will provide accurate and timely production of financial statements, production reports, client receivables/payables and monitor cash processing in order to achieve department standards and meet service level expectations. The team structure will be dedicated to supporting all Assumed Internal Reinsurance, including Multinational business functions and the position will report through the Ceded Reinsurance Operations and Accounting Organization.
The position will report to a Ceded Re Accounting Manager.
Responsibilities include:

• Prepare monthly, quarterly, and ad-hoc standardized reports in support of the early financial close.
• Reviewed assumed statements of accounts, bordereaux, and XOL claims for alignment with contract terms.
• Analyze large sets of data to create standardized reinsurance reports for management review
• Preparation and approval of journal entries
• Prepare and approve payments for various treaty and XOL claims settlements
• Maintain documentation to support external audit requests and SOX compliance
• Coordinate reporting and financials postings with the Corporate Controller, Actuarial and Ceded Reinsurance Teams.
• Oversee the intercompany accounting close processes and reconciliations to ensure intercompany reconciliation breaks are researched and addressed in a timely manner.
• Monitor cedent deliverables to ensure alignment with contract terms, i.e., premium adjustments, timelines for statements of account and bordereaux, etc.
• Participate in critical assumed reinsurance implementations projects
• Handle additional assumed accounting responsibilities as deemed priority by management

Desired Skills & Experience:

• Bachelor's degree, preferably in Accounting/Finance, or equivalent combination of education and work experience.
• Minimum of 5-8 years' experience within the Reinsurance industry, finance or accounting preferred
• Knowledge of Intercompany accounting, various forms of reinsurance, specifically XOL contracts as relates to loss application and calculation
• High level of experience with Microsoft Excel (Pivot Tables, VLOOKUP's, SUMIFs)
• Familiarity with various systems and reporting tools such as SAP FSRI, SAP FSCD, SAP GL, and SAP BW / BOBj.
• Excellent verbal and written communication skills, and team player.
• Collaborate with internal and external customers; understand the needs and goals of a customer and actively look for ways to meet them.
• The ability to communicate articulately and efficiently with with outside departments and external auditors.
• Excellent motivation skills
• Ability to think intuitively and work with little supervision.
• Detail oriented, organized, and strong problem solver with analytical abilities and have a high level of accuracy.
• An ability to priorities 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, highly organized and able to prioritize.

Salary Range: $65,000 - $125,000 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 International, 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
Sompo International is an equal opportunity employer committed to a diverse workforce. M/F/D/V
Visit our website at www.sompo-intl.com