Sr. Associate, Reinsurance

Allianz Global Corporate & Specialty is a premier worldwide carrier for large industrial corporations and their global risks. Our client focus is U.S. corporations with global operations, large national accounts, oil and petrochemical corporations, large contractors and complex construction projects and U.S. subsidiaries of foreign corporations.

We offer challenging assignments and projects in a team-oriented environment. Allianz provides excellent benefits, competitive compensation, and career growth for creative, motivated people who thrive in a fast-paced environment.

We currently have an opening for a Accountant - Reinsurance Billing, Collections & Reporting in our Chicago office.

ROLE PURPOSE:

 

Responsible for the billing, collections, settlement & reconciliation for balances to/from Allianz affiliates and/or Reinsurers for both Treaty & Facultative Reinsurance programs.

 

BILLING:

 

Responsible for the accurate and timely preparation of detailed bordereaux statements & proof of loss billings including Cash Calls due to/from the reinsurers on facultative and treaty arrangements.  The billings are reconciled to the reinsurance sub ledger (Re Acct) to ensure accuracy of balances due to/from each reinsurer before they are sent out.

 

COLLECTION:

 

Consistently follow up and collect on reinsurance recoveries due the company and work with other internal departments and the reinsurers to investigate & resolve any queries, discrepancies and requests.  This could include technical claim & accounting queries, reinsurer requests, demand letters, denials and accounts for arbitration.  Accurate & timely preparation of corresponding journal entries and cash receipt entries and maintenance of the reinsurance sub ledger (ReAcct)

 

RECONCILIATION:

 

Monthly reconciliation of reinsurance balances, for both treaty and facultative programs, in the general ledger to the sub ledger (ReAcct).  Accurate and timely resolution of reconciling items, which contain both system generated transactions and cash activities.

 



SPECIAL PROJECTS:

 

Responsible for the maintenance of required processes in compliance with Sarbanes Oxely Act; review and maintain reinsurance programs and procedures to ensure adoption of best practices and standards; contribute and assist in other special projects

 

REQUIREMENTS:

 

§ Bachelors Degree in Accounting, Finance or Business required; MBA and/or candidate preferred but not required. 5-7 years insurance industry experience in reinsurance required; P&C industry desired

§ Working knowledge GAAP & STAT insurance accounting principles; P&C principles desired

§ Strong organizational, analytical, documentation and multi-tasking skills necessary to manage multiple deadlines and changing priorities in a fast-paced environment

§ Solid computer literacy, with proficiency in MS Office software, e.g. Excel, Word, PowerPoint

§ Strong interpersonal and written/verbal communication skills to be able to effectively communicate with internal & external clients.  Detailed orientated, a team player, and strong analytical, organization & documentation skills

§ Ability to multi-task and meet deadlines

 

 

PRINCIPALS ONLY -- NO AGENCIES