EXL Service - Assistant Manager/Lead Assistant Manager - Reinsurance Accounting (3-8 yrs)
Role - Reinsurance Accounting (GL Entry)
Shift - US
- US Visa Mandatory
Package : Open
Min Experience : 3 Years
Number of Opening : 5 LAM, 4 AM.
- 5 of these need to travel in Dec 2019.
- We do not required individual with experience on Claims or Under writing on People with core Reinsurance Accounting experience Who do General Entries.
Basic Functions :
- This position requires in-depth knowledge of reinsurance administration (accounting, preparation of reinsurance statements, invoice processing, interacting with multiple departments to address reinsurer queries, regulatory reporting activities, etc.). The position requires frequent coordination and interaction with multiple stakeholders like Life Reinsurance Department, Underwriting Team, Claims Department, Actuarial Team, Reinsurers, etc.
- The role requires knowledge of reinsurance concepts, ability to interpret reinsurance treaties, critical thinking, hands on experience with reinsurance admin systems and in-depth knowledge of advanced excel.
- This position is responsible for providing subject matter expertise/ performing end to end review of the work performed/ establishing controls/ streamlining the process and developing domain knowledge of the offshore staff
Primary responsibilities of this role include :
- Create Business Requirement Documents and translate key information into the reinsurance systems.
- Research and resolve queries pertaining to any testing/coding.
- Accounting - Book accruals (journal entries related to premiums, commissions & claims), Process settlements, Bordereau/Settlement spreadsheet preparation and reconciliations including balancing and resolution of open items
- Regulatory Reporting - Preparation of regulatory filings (Schedule S and F, Page 27, Notes to Accounts, General Interrogatories), Fitch, S&P and AM Best surveys and Liaison with multiple departments/reinsurers
- Receivables Management - Preparation of invoices/billing statements to reinsurers, Tracking of outstanding receivables and Transfer of non-recoverable amount (>90 days)to non-admitted account
- Reinsurer Query Management - addressing reinsurer queries related to billing/claims, etc. and coordinating with actuarial/claims department to resolve queries
- Assist project team in the deployment/testing of any new admin system for reinsurance.
- Collaborate on any adhoc projects related to testing, new deployment, etc.
- Coordinate with multiple stakeholders like Life Reinsurance Department, Underwriting Team, Claims Department, Reinsurers, Actuaries, etc. on a regular basis.
- Provide subject matter expertise/ perform end to end review of the work performed/ establish controls/ streamline the process and develop domain knowledge of the offshore staff
- Preferred qualified accountant with 3+ years of experience (minimum 3 years in Reinsurance Accounting)
- Knowledge and expertise in reinsurance management/external/regulatory reporting
- Good analytical skills
- Good Computer navigation and MS Excel skills
- Comprehension skills - should be able to read, interpret business documents
- Data analytics, application management and project support experience in insurance/reinsurance.
- Ability to analyze complex information, trends, etc. and work on resolving any data anomalies.
- Good communication and business writing skills.
- Good interpersonal skills and ability to coordinate and collaborate with multiple stakeholders.
- Ability to multi task and handle adverse situations in a professional and calm manner.
- CA; Any certification in insurance/reinsurance life/LOMA, etc. preferred.
- Valid US visa is mandatory.