Jr. Reinsurance Accountant – Multinational Business Accounting

Job Description

Jr. Reinsurance Accountant | Starr

The Tone:
This is a role at Starr, a global leader in commercial insurance with over a century of expertise. The company empowers employees to innovate, make impactful decisions, and build lasting client relationships worldwide. This position supports the reinsurance accounting department, focusing on the Multinational business, by processing facultative and treaty reinsurance accounts, managing cash flows, and performing reporting and reconciliation. The Jr. Reinsurance Accountant plays a crucial part in maintaining accurate financial records for assumed and ceded reinsurance accounts.

The TL;DR
• Role: Early Career
• Mission: This role is responsible for supporting the reinsurance accounting department by processing assumed and ceded facultative and treaty reinsurance accounts, managing incoming and outgoing cash, and performing necessary reporting and reconciliation activities, particularly for the Multinational business.
• Tech Stack: MS Office: Excel, Word, RMS, SICS, ProCede or similar

What You’ll Actually Do
• Account Recording: Review and record facultative and treaty accounts, including premium, commission, and taxes for assumed and ceded reinsurance.
• General Ledger Processing: Book assumed accounts, produce the ceded bdx for the reinsurance panel, and create journal entries to ensure correct and timely general ledger postings.
• Cash Flow Management: Monitor and allocate incoming cash, create outgoing payments, and apply cash for facultative and treaty reinsurance contracts.
• Settlement and Recovery: Process the settlement of ceded premium and manage the billing and recovery of ceded facultative reinsurance.
• Reconciliation and Investigation: Perform general ledger reconciliations in a timely and accurate manner and investigate discrepancies until resolution.

The Must-Haves
• Background: Bachelor’s degree in accounting, finance or a related field; entry-level career stage.
• Experience: 0-3 years of work experience, preferably in accounting, finance or a related area.
• Skills: High attention to detail, precise; analytical skills with a solutions-oriented mindset; ability to multi-task, organized, with a good sense of priorities; good knowledge of MS Office, including Excel and Word; basic knowledge of insurance/reinsurance.
• Bonus: Experience handling cash/settlements, and recoveries is preferred; experience with reinsurance systems and platforms (e.g., RMS, SICS, ProCede or similar) is a plus.