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Reinsurance Accountant

OdysseyRe
Stamford, CT Full Time
POSTED ON 12/1/2024 CLOSED ON 1/10/2025

What are the responsibilities and job description for the Reinsurance Accountant position at OdysseyRe?

Odyssey Reinsurance Company (OdysseyRe) is the global reinsurance arm of Odyssey Group, one of the world’s leading providers of reinsurance and specialty insurance. OdysseyRe offers a broad range of property, casualty, and specialty reinsurance products, providing capital and risk management solutions for clients to efficiently manage economic risk through a network of branch and representative offices across North America, Latin America, EMEA (Europe, Middle East & Africa), AsiaPacific and London.

OdysseyRe is an equal opportunity employer with excellent benefits and a strong commitment to providing training and opportunities for our staff. We provide employees an innovative, enriching environment and take great pride in their career growth.

OdysseyRe is rated A (Superior) by AM Best and A (Strong) by Standard and Poor’s. Odyssey Group is a subsidiary of Fairfax Financial Holdings Limited, which is traded on the Toronto Stock Exchange under the symbol FFH.

Summary

Position Summary :

The Reinsurance Accountant is responsible for performing all aspects of Treaty accounting for assigned treaties including account analysis, entry into reinsurance system and cash settlement.

Duties

Essential Duties :

  • Ensure that all assigned accounts due from brokers and ceding companies are received and processed timely after analysis and review
  • Review premium and loss bordereaux to ensure compliance with treaty terms and to identify catastrophe or large loss activity
  • Follow up on settlement of overdue accounts, adjustments and settlement of account balances
  • Ensure that all statistical account information is allocated properly in the Phoenix system based on treaty terms
  • Exercise discretion and independent judgment with respect to matters of significance
  • Research, reconcile and resolve account discrepancies
  • Review and interpret treaty contract wordings
  • Keep management and underwriter informed of unusual or significant activity in a treaty
  • Review and apply cash receipts and disbursements on assigned accounts. Monitor cash suspense and explain reasons for unapplied
  • Maintain electronic accounting files for assigned accounts
  • Prepare disbursement requests for account balances and cash calls. Obtain appropriate approvals for payments when necessary.
  • Communicate with broker regarding account issues
  • Provide support to management and teammates in regard to specific account issues
  • Follow department’s established accounting procedures
  • Assist in closing process as needed
  • Maintain confidentiality of company-sensitive data

Requirements

Job Requirements :

  • Proficient in Excel
  • Able to analyze data, resolve problems and make decisions
  • Must successfully interact with other members of the Accounting staff and all other departments in the company
  • Possess solid planning and organizational skills, verbal and written communication skills, reconciliation skills and supervisory skills
  • Experience in treaty reinsurance accounting and exposure to all facets of reinsurance accounting including the ability to interpret contract agreements preferred

Education

Education and Experience :

  • Bachelor’s degree in finance/accounting preferred or equivalent work experience
  • Minimum 3 years of previous experience in accounting, finance, or reinsurance accounting. Extensive understanding of reinsurance accounting concepts or techniques.

This role offer a hybrid work schedule.

We are an E-Verify employer - all hired positions require successfully passing an E-Verify Check.

Navigate the links below to learn more about careers at OdysseyRe.

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