Reinsurance Accounting Manager Houston, Texas

Job Details:-

This is a job posting from company – Tokio Marine

Employment TypeFull Time

Work Hours: 8

Salary: $20 To $30/An Hour

Location: Texas, USA

This job is 100% remote.

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Position at Tokio Marine HCC

Every policy we write is special, enabling our clients to do amazing things. From insuring the crops that feed us to the rock concerts that entertain us to rescuing international travelers in trouble, we offer more than 100 classes of specialty insurance. Our policies let our clients:

Transplant human hearts, build platforms in the ocean, parachute from aircraft, play host to the world’s greatest sports, make structures that scrape the sky and much, much more…

We provide insurance for our clients but who insures the insurer? That’s where the reinsurance group comes in and for this group we are looking for a REINSURANCE ACCOUNTING CONTROLLER.

What we offer

For the person with a thirst for knowledge, we offer the opportunity to learn about both the insurance and reinsurance industry. We realize that you might not have this exposure and experience and that’s why we invest (a lot!) in training and training on the job to ensure you can perform your role successfully.

We furthermore offer a structured career progression path for high performing individuals as well as the opportunity to work with industry subject matter experts (SME).

In this role you, under supervision of a SME, perform progressively complex reinsurance and accounting activities relating to the maintenance of ledger accounts, financial statements, and the development of associated managerial reports for reinsurance applications.

Key Responsibilities

  • Manage assigned area of Reinsurance Accounting department including direct oversight of Reinsurance Accountant
  • Prepare various monthly reinsurance settlements across all TMHCC Specialty lines of business.
  • Responsible for initial preparation of treaty renewal reports for TMHCC Specialty Head of Reinsurance and TMHCC Specialty underwriting teams upon request.
  • Continue to work with London team to provide underwriting results in a more efficient manner.
  • Work with Accounts Payable staff to insure payments for reinsurance settlements are completed timely and accurately according to terms of the reinsurance contracts.
  • Work with other members of the TMHCC Specialty Accounting and IT teams to implement a more robust reinsurance system and close relevant TMHCC Specialty lines on a monthly basis.
  • Interpret and input reinsurance agreements into financial system for use by Underwriting, Claims, Compliance, and Accounting departments.
  • Prepare and review reconciliations to the general ledger for reinsurance related balances
  • Assist in preparation of Schedule F reports including instructing assigned staff on preparation and reviewing of documents for accuracy and appropriateness.
  • Oversee Letter of Credit requirements, maintenance, legal issues, and banking relationships on assumed/ceded reinsurance business.
  • Compile quarterly Reinsurance Reserve, Paid Loss Recoverable, and other relevant reports for senior management.
  • Review reinsurance documents for completeness in accordance with negotiated terms and conditions following statutory requirements.
  • Respond to inquiries from reinsurers, reinsurance brokers, auditors, and issuing companies.
  • Analyze, propose, and implement changes to business processes and systems.
  • Prepare and/or oversee the preparation of ad hoc reports for senior management, auditors, actuaries, and accounting personnel.
  • Instruct team members and others on reinsurance concepts.

Required Skills and Experiences

  • Bachelors in Degree or equivalent experience
  • 5 or more years of experience in Insurance
  • Reinsurance is a plus but not a requirement

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