Fidelity Life/Efinancial

  • Reinsurance Accountant

    Location US-IL-Chicago
    Job ID
    2019-1820
  • Overview

    The Reinsurance Accountant position will assist the Reinsurance Accounting team in administering all aspects of all life reinsurance agreements in accordance with Treaty parameters and ensuring proper accounting treatment for all reinsurance transactions.  The Reinsurance Accountant is primarily responsible for creating entries to the General Ledger for claims recoverable, and updating and maintaining TAI system parameters to support business needs.  The Reinsurance Accountant position will require active communication with reinsurers, underwriters, finance staff, auditors, and service teams to ensure the company is fulfilling all terms of reinsurance agreements.

    Responsibilities

    • Administer all existing and all new life reinsurance agreements according to Treaty parameters. 
    • Review and processing of weekly reinsurance claims for both ceded and assumed activity, all within time restraints
    • Recoverable billing to reinsurers with past due follow-up in a timely and professional manner
    • Reconciliation of ceded and assumed accounts
    • Ensures timely, accurate, and complete calculations, recording, reporting and billing in accordance with contract terms
    • Prepares and records weekly, monthly and quarterly journal entries as required for reinsurance activity
    • Reconciles reinsurance related activity, identifies issues, coordinates resolution and takes corrective action
    • Testing administrative systems interface changes, new products, upgrades, conversions
    • Assist in designing and evaluating internal controls
    • Responds to complex internal and external audit inquiries, including support of larger scale/complex on-site reinsurance audits
    • Communicates with supervisors, reinsurers, and high-level representatives from other departments (e.g., claims, actuarial, finance)
    • Assist in preparing statutory schedules

    Required Skills:

     

    • Ability to read and understand technical information such as reinsurance treaties
    • Experience with both GAAP and STAT accounting principles
    • Must have the ability to meet deadlines and perform multiple assignments
    • Skill in creative business problem analysis. Skill in analyzing problems and making decisions
    • Strong oral and written communication skills
    • Good understanding of internal controls and SOX
    • Ability to work independently and be self-motivated
    • Aptitude for learning IT systems


    Qualifications

    • Bachelor's degree – preferably in Accounting
    • Skill in Microsoft Excel and Access databases
    • Experience in the life insurance industry preferred
    • Experience in reinsurance accounting a plus
    • TAI Reinsurance system knowledge a plus

    EEOC/Other

    Fidelity Life Association is an equal opportunity employer and supports a diverse workplace.  As a Fidelity Life employee, you will be eligible for Medical and Dental Insurance, Health Savings Accounts, Flexible Spending Accounts (Health, Dependent Care & Transit), Vision Care, 401(K), Short-term and Long-term Disability, Life and AD&D coverages.

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