Description

Job Title: Reinsurance Accountant

Department: Finance / Reinsurance Accounting

Location: Long Island, NY

Reports To: Accounting Director

Position Summary: 

We are seeking a highly motivated and detail-oriented Reinsurance Accountant to support our Property C Casualty (PCC) operations. This role is responsible for the accurate accounting, reconciliation, and reporting of ceded and assumed reinsurance transactions. The ideal candidate will have experience in PCC reinsurance programs including treaty, facultative, and excess-of-loss arrangements, and will work closely with internal teams to ensure proper reinsurance execution and financial reporting.

Key Responsibilities:

• Process and record monthly, quarterly, and annual reinsurance activity related to ceded and/or assumed PCC reinsurance, including premiums, commissions, losses, and recoverables.
• Review and interpret reinsurance contracts to determine appropriate accounting treatment and ensure compliance with terms.
• Monitor and reconcile ceded premium and loss balances, reinsurance recoverables, and payable positions
• Prepare Schedule F (Parts I–VII) for statutory filings in accordance with NAIC requirements.
• Support quarterly and annual close processes, including journal entries, account reconciliations, and preparation of financial schedules.
• Collaborate with Underwriting, Claims, and Actuarial teams to ensure accurate processing of reinsurance recoveries, reserves, and contract data.
• Work directly with reinsurers and brokers to resolve discrepancies in statements of account (SOAs), cash settlements, and open balances.
• Maintain accurate reinsurance documentation and ensure audit trails for all transactions.
• Assist in reinsurance system implementation, data migrations, or enhancements as needed.
• Support additional tasks aligned with daily financial operations and department workflow, as needed.

Requirements

Required Qualifications:

• Bachelor’s degree in Accounting, Finance, or related field.
• 5+ years of relevant experience in insurance and/or reinsurance accounting, preferably within the PCC industry.
• Understanding of PCC reinsurance structures (quota share, excess-of-loss, facultative, etc.).
• Familiarity with NAIC statutory accounting (especially Schedule F) and U.S. GAAP.
• Strong proficiency in Excel and experience with accounting or reinsurance systems (e.g., XL Pro).
• Strong analytical, problem-solving, and organizational skills.

Preferred Qualifications:

• Experience with reinsurance claim recoveries and loss development reporting.
• Working knowledge of reinsurance contracts, loss development, or actuarial collaboration.
• Exposure to regulatory exams and reinsurance audits.

Core Competencies:

• Strong attention to detail and accuracy.
• Ability to work independently and manage competing priorities.
• Excellent verbal and written communication skills.
• Team-oriented with a proactive, solution-driven mindset.

Work Environment: 

•        Hybrid/remote work arrangement available.
•        May require extended hours during month-end and quarter-end close.