This site uses cookies. To find out more, see our Cookies Policy

Insurance Accountant in Charlotte, NC at QuestPro Consultants

Date Posted: 12/7/2018

Job Snapshot

Job Description


Reinsurance Accountant

This position is responsible for ensuring business is processed and settled pursuant to the financial terms and conditions agreed to with the producing offices (PO), general agency agreement and the reinsurance agreement.  This includes proper accounting and collection of deductibles, jurisdictional inspection fees, centrally collected accounts etc.  This position maintains and monitors the UW workflow tool Smartsheet with the annual premium plan and timely processing.  This position is also responsible for preparing the annual premium plan, premium analysis and projecting the cash flow of the business to ensure settlement with insurance partner is completed timely and the Company is able to meet its other financial responsibility such as claim and vendor payments.  This position monitors, communicates and resolves accounts receivable balances escalated by the staff accountant through communication with UW, PO, Broker or preparing premium refund checks.  This position is also responsible for ensuring all sub-systems, partner systems, CAU and IP systems are reconciled and balanced and providing ad hoc data requests for claims, underwriting and management.  The position liaises with the insurance partner and reinsurer regarding loss reserving and letter of credit. 


Principle Duties and Responsibilities

  • Prepares the annual and reforecast premium and override commission plans by PO between Property and Casualty.
  •  Prepares a monthly analysis of premium and override commission to plan and prior year identifying and explaining variances.
  •  Monitors underwriting production and claim activity on a daily/weekly/monthly basis to ensure timely and accurate financial processing per established financial terms by the PO and binder/dec/policy.
  • Maintains system reconciliations between platforms of premiums and claim data.  Proactively manages corrections with UW, Claims and Operations
  • Develops and processes ad hoc reports and data request for underwriting, claims and senior management
  • Researches and monitors resolution of account receivable discrepancies escalated by staff accountant. 
  • Monitors and projects cash flow needs of the business to ensure settlement with insurance partner is completed timely and the Company is able to meet its other financial responsibility such as claim and vendor payments and to minimize the number of cash calls from the reinsurer. 
  • Prepares and reconciles the insurance partner billings and payments and serves as a point of contact with insurance partner for questions regarding billings, reconciliations.
  • Prepares and coordinates filings on behalf of insurance partner with CAU.
  • Main point of contact for accounting purposes with insurance partner and CAU
  • Monitors and liaises with the insurance partner and reinsurer regarding loss reserving and letter of credit
  • Point of Contact for underwriting, operations and claim personnel request for customer research items.
  • Provides data for tax filings as needed, such as federal and state income taxes, personal property tax returns, sales and use tax and 1099’s. 
  • Ensures compliance with financial responsibilities of the general agency and reinsurance agreements


Education / Experience / Knowledge / Skills / Abilities

  • Bachelor’s Degree in Accounting / Finance preferred
  • 8- 10+ years of experience in Reinsurance or insurance accounting experience with a Property & Casualty insurance company required
  • Exposure to international insurance or managing general agency preferred
  • Experience with small to mid-size general ledger packages, such as Quick Books, DAC Easy, Peachtree
  • Must be able to work longer hours during peak work periods such as month end and year end






CHECK OUT OUR SIMILAR JOBS

  1. Accountant Jobs
  2. Controller Jobs