Reinsurance Accounting Analyst Job Description Sample
The individual for the position of a reinsurance accounting analyst is in charge of prompt and precise recording of customers’ premiums, as well as loss affiliated facts into a company’s reinsurance accounting systems.
This post considers harmonization and research of all accounting issues in relation to customer service, as well as rendering of unsettled accounts.
The job description of the holder of this position will ensure prompt reporting and precise management of all client account statements, handling of reinstatements, premium modifications in line with contract terms and organizational procedures.
He/ she will properly identify and act on workflow promptly so as to be filed.
Reinsurance accounting analysts take part in reinsurance organization audits alongside internal auditors and also external reinsurance organizations and self reliant auditors.
Their role also entails offering sequential overview, collecting data and offering information as demanded.
They will also be required to carry out detailed policy stage audits as appropriate in responding to inquires and questions.
These accounting analysts are also responsible for carrying out precise and timely application of expenditure and cash receipts and guaranteeing settlement of cash inconsistencies through communication and research with the accounting departments, as well as internal or external customers.
This job will include evaluation of accounts receivable or unresolved cash to guarantee prompt and precise utilization of cash, and to oversee and collect unsettled balances due, in accordance with terms of contract and internal collection procedures, including preparation of client account invoices.
Sample Job Description for the Reinsurance Accounting Analyst Position
Below is a job description sample for the position of reinsurance accounting analyst, consisting of important duties, tasks, and responsibilities holders of the position are usually required to perform.
The job description can also be useful in making a good resume for seeking a vacant accounting analyst reinsurance job.
- Render assistance in handling cash flow by properly notifying the treasury department of all complex receipts and expenditures and manage disbursements to involve verification of all customer requests for remittance and to guarantee agreement with contract specifications
- Organize monthly or quarterly record entries applicable to reinsurance
- Render assistance with monthly and quarterly corporate culmination process to guarantee compliance with global reporting prerequisites
- Reassess and organize seriously intricate domestic and international insurance and unexplained treaty accounts
- Offer assistance in evaluating financial interpretations every month and every quarter
- Organize and develop excellent working knowledge of reporting and processing systems and handle and maintain outstanding communication
- Keeping in touch with issues or complications as they occur
- Offer assistance on distinctive projects or other activities as designated by management
- Discovers and gives reports on observations to the management as necessary
- Joins forces with both external vendors and clients to find resolution to and prohibit issues
- Equates monthly cash statement to validate that amounts are booked accurately for all levels of the business
- Reevaluates profit commissions accounts and modify retrospective benefits
- Carry out calculations of unresolved premium and audit relative treaty offers following treaty conditions.
Requirements – Knowledge, Skills and Abilities for the position of a Reinsurance Accounting Analyst
Highlighted below are some of the skills and prerequisites for becoming a successful reinsurance accounting analyst
- An associate or college degree in finance, accounting, insurance or other affiliated field with at least a year’s’ experience in handling cash or insurance policies
- Unique interpersonal aptitude with written and verbal communication association and teamwork skills
- Impressive technical, analytical, mathematical and accounting aptitude in addition to excellent writing skills
- Commendable experience in utilization of Microsoft office products like Word, Excel etc.