Senior Manager, Reinsurance Accounting

Senior Manager, Reinsurance Accounting

Wilton, CT or Parsippany, NJ

The Manager, Reinsurance Accounting, is a key member of AIG’s Reinsurance Controllership team ensuring accurate accounting, robust internal controls and timely financial reporting for AIG’s domestic Commercial and Personal insurance businesses.  Reporting to the Director, External Reinsurance, this role is primarily responsible for managing the financial and operational controlling activities associated with multiple complex external reinsurance programs.  Given the level of complexity across these programs, this role is structured with three direct reports and an extensive offshore platform.

Success in this role will require a strong and well-balanced combination of re/insurance technical knowledge, operational savvy with an ability to efficiently leverage all levels of available resources, connecting operational inputs and outcomes to the financial results of AIG, organizational dexterity with capability to build relationships across disciplines, and comfort managing in a dynamic and transformational environment. 

Key Responsibilities:

• Manage execution of key accounting and operational controlling requirements associated with a prominent, bespoke third-party program with a Lloyds reinsurer, including but not limited to:

  • Timely identification and billing of eligible XOL recoveries

  • Calculation and accounting for ceding commissions

  • Coordination with Reinsurance Collection group on issuance of statement of accounts to brokers

  • Prepare summary of the program for review and presentation to leadership

  • Provide analytical insight into activity in the reporting period

• Manage the financial and operational accounting for global catastrophe reinsurance programs under a range of contractual structures and across all open contract years, preparing statements of account and ensuring timely settlements in conjunction with global Treasury operations

• Ensure timely identification and responsiveness to accounting for less structured or predictable transactions, including cash calls on external reinsurance, reinstatement premiums on current and prior years’ loss activity, recording and applying cash on retrospectively rated reinsurance contracts, etc.

• Global oversight of Travel Reinsurance activity in support of strategic initiatives related to the book of business, including general ledger oversight, coordination with Reinsurance collection on billing and cash application

• Support the audit process with external and internal auditors

Qualifications:

• Bachelor’s degree in accounting required, CPA preferred

• Minimum of 7 years of relevant professional experience, particularly leading teams in a controller capacity for a public P&C insurance company

• Advanced knowledge of reinsurance operations, including underwriting, claims, accounting, finance and associated process, controls and systems; re/insurance-relevant professional designation a plus (ARe, CPCU, etc.)

• Strong insurance-technical accounting expertise, possessing a comprehensive understanding of inter-relationships between balance sheet and income statement, with an ability to analyze results accordingly

• Industry business acumen along with a clear understanding and awareness of global macroeconomic and other relevant factors impacting the business that manifest in financial results

• Experienced in leveraging a combination of onshore and offshore management and staff resources on a global basis, maximizing the benefits of time zone differences to enhance productivity

• Strong interpersonal skills and an ability to communicate and collaborate effectively with individuals across Finance and operational disciplines towards a common purpose; commercially oriented, carrying credibility with a business unit and broader Finance organization

• Systems-technical acumen, able to quickly grasp management reporting structures, understand a newly transformed finance architecture and financial reporting platform, and determine how to extract maximum value in execution of the financial close

• Strong attention to detail, where accuracy and precision are critical to success, yet possessing an ability to step back and appreciate broader objectives around effective communication and the inter-relationship across finance and operations teams

• Able to operate successfully and thrive in a dynamic, transformational environment, where change is embraced and viewed as an opportunity for one’s own professional development and to drive process improvement for the team and broader organization

For positions based in New York, the base salary range is $128,000-$160,000. For positions based in Connecticut, the base salary range is $128,000-$160,000. For positions based in New Jersey, the base salary range is $129,000-$161,000. In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here US Benefits

At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.

Enjoy benefits that take care of what matters

At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

Welcome to a culture of inclusion

We’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The talent of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.

AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

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