Jr. Reinsurance Accountant

Job Description

Jr. Reinsurance Accountant | Starr

The Tone:
This is a full-time role at Starr, located in New York, NY. Starr is a global leader in commercial insurance, empowering its employees to innovate, make impactful decisions, and build lasting client relationships worldwide. This role is crucial for supporting the reinsurance accounting department, ensuring precise financial operations related to multinational business, and maintaining the accuracy of assumed and ceded reinsurance accounts. You will contribute to the company’s financial strength and ability to deliver solutions for complex client needs.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: In-person New York, NY
• Pay: $65000–$85000 yearly
• Team: Reinsurance accounting department
• Mission: Support the reinsurance accounting department by processing facultative and treaty reinsurance accounts, managing cash, and performing reconciliation activities.
• Tech Stack: MS Office: Excel, Word; Reinsurance systems and platforms (e.g., 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 both assumed and ceded reinsurance.
• General Ledger Posting: Book assumed accounts and produce ceded bdx to the reinsurance panel, creating journal entries to ensure correct and timely general ledger postings.
• Cash Operations: Monitor and allocate incoming cash, create outgoing payments, and maintain/apply cash for facultative and treaty reinsurance contracts.
• Settlement Management: Process the settlement of ceded premium and manage the billing and recovery of ceded facultative reinsurance.
• Reconciliation and Resolution: Perform general ledger reconciliations in a timely and accurate manner, follow up on cash collection and disbursements, and investigate discrepancies until resolution.

The Must-Haves
• Background: Bachelor’s degree in accounting, finance, or a related field. Entry-level career.
• Experience: 0-3 years of work experience, preferably in accounting, finance, or a related field. Basic knowledge of insurance/reinsurance.
• Skills: High attention to detail and precision; Analytical skills with a solutions-oriented mindset; Ability to multi-task, organized, with a good sense of priorities.
• Bonus: Experience handling cash/settlements and recoveries; Experience with reinsurance systems and platforms (e.g., RMS, SICS, ProCede or similar).