What are the responsibilities and job description for the Manager, Ceded Reinsurance Finance position at Berkley?
Company Details
"Our Company provides a state of predictability which allows brokers and agents to act with confidence."Founded in 1967, W. R. Berkley Corporation has grown from a small investment management firm into one of the largest commercial lines property and casualty insurers in the United States.Along the way, we’ve been listed on the New York Stock Exchange, become a Fortune 500 Company, joined the S&P 500, and seen our gross written premiums exceed $10 billion.Today the Berkley brand comprises more than 50 businesses worldwide and is divided into two segments: Insurance and Reinsurance and Monoline Excess. Led by our Executive Chairman, founder and largest shareholder, William. R. Berkley and our President and Chief Executive Officer, W. Robert Berkley, Jr., W.R. Berkley Corporation is well-positioned to respond to opportunities for future growth.
The Company is an equal employment opportunity employer.
Responsibilities
This position is responsible for maintaining financial reports, records, general ledger accounts and assist in monthly close processes. Preparing monthly reports including collecting, analyzing and summarizing account information. Prepare and review journal entries and various account reconciliations. This position works closely with management to provide strategic support to the Corporate Finance and Underwriting leadership.
Responsibilities: • Prepare and review timely and accurate financial reports.• Process months end close for multiple business units in source system and general ledger. Involves strong collaboration with divisional and subsidiary personnel, IT teams and offshore teams.• Prepare Reinsurance close calendars for all monthly, quarterly and year end closing processes.• Review and approve journal entries, topsides and ensure proper workings created to support audits.• Assist in transformation change project and implementation.• Assist in inquiries from Corporate Finance, actuarial, underwriting and Insurance Risk Management (IRM) team.• Analysis of Ceded Income Statement and Balance Sheet accounts and commentaries for variance explanations.• Communicate with corporate reinsurance personnel to understand all facets of the corporate reinsurance contracts.• Communicate and training of offshore team and ensuring quality and accuracy of deliverables.• Assist and review in preparation of regulatory reports and footnotes.• Maintaining and review Process documentation.• Data collection and reconciliation to the general ledger for company “special purpose” reinsurance vehicle.• Quarterly settlement for company “special purpose” reinsurance vehicle, including general ledger journal entries. • Support ad hoc activities/projects.
Qualifications
• 7-10 years of reinsurance accounting experience.• Industry knowledge- strong understanding of reinsurance accounting concepts and ability to understand and interpret reinsurance contracts.• Communication skills- strong communication skills for addressing issues with subsidiary CFO’s, controllers, other accounting personnel and reinsurance department personnel. • Advanced Excel skills, experience with Reinsurance Systems, PeopleSoft a plus.• Highly motivated team player with good written and verbal communication skills.
Education Requirement
• Bachelor’s degree in finance or accounting preferred. • CPA and/or MBA preferred.
