Sompo International Holdings Ltd
Ceded Re Accountant
Sompo International Holdings Ltd, New York, New York, us, 10261
As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most:
our people . At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.
Job Description
Are you looking for your next opportunity?
Sompo has a unique opportunity for a
Ceded Re Accountant
on our
Ceded Reinsurance team.
Sompo's Ceded Reinsurance team is a globalized customer focused, dedicated and professional organization. The team is responsible for the purchasing and management of Ceded Reinsurance placements. The Ceded Accounting staff will provide accurate and timely production of financial statements, production reports, client receivables/payables and be actively involved in cash processing, collection and disbursement as well as any ad-hoc project requests. Additionally, be able to identify and research issues arising from processes and producing/communicating results in an accurate and timely manner, in order to achieve department standards and meet service level expectations.
Location:
This position will be based out of our
New York City
office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers. The team structure will align to the front-end business functions of Property, Casualty, Assumed Treaty Reinsurance and Specialty. The position reports to the Ceded Re Accounting Manager.
What you'll be doing:
Ceded Re Accounting:
Accurately and timely prepare and distribute Account Statements, Bordereaux, and XOL (Excess of Loss) recoverable invoicesPrepare XOL deposit premium settlements and calculate XOL premium adjustmentsSupport on reinsurance programs including collaboration and production of ceded premium and loss accounting, reinsurance premium and loss allocation as well as reinsurance receipt and disbursement processesDevelop strong relationships with clients to facilitate timely and accurate cash receipts and disbursementsManage reinsurance related aged debts and clear unallocated cashes
Client Relationships
Develop strong relationships within the Ceded Accounting and Operations teamsAbility to work on and resolve questions and partner with Claims, IT, Accounting, Underwriting and Operations departments as neededTroubleshoot data reconciliation and variance issues with operations, and resolving unallocated cash issues
Compliance
Maintain compliance to SOX, regulatory reporting and company policies, including analysis and reconciliation of reinsurance related accountsAssist in GAAP/IFRS year-end audit and annual STAT audit including providing information as requested by external auditor, premium confirmation letters and support for all requested balances
Ad-hoc project requestsWhat you'll bring:
Bachelor's degree Accounting or equivalent combination of education and work with 3+ years relevant experience in Reinsurance Accounting preferred
Solid understanding of accounting procedures, internal and external reporting and variance analysisPreference to understand contractual terms included in reinsurance contracts, with a focus on excess of loss contractsPreference to understand various reinsurance program arrangements (e.g. Pro-Rata and Excess of Loss Treaties), and demonstrate experience with handling accounting treatments
Must have proficiency with Microsoft Office Suite, Expert Level Excel Skills Required (Pivot Tables, V-Lookups, etc.) with SAP-GL, FSRI and FSCD experience preferredStrong analytical ability, and detail oriented with the ability to work on high volume of daily transactions with accuracyAbility to work in a fast paced, high volume team environment with rapidly changing priorities and demandsDesired personal qualities include: energetic, resourceful, hardworking, self-motivated, highly organized and able to prioritizeSalary Range:
$85,000 - $130,000 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.
At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:
Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contributionPharmacy benefits with mail order optionsDental benefits including orthodontia benefits for adults and childrenVision benefitsHealth Care & Dependent Care Flexible Spending AccountsCompany-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & childrenCompany-paid Disability benefits with very competitive salary continuation payments401(k) Retirement Savings Plan with competitive employer contributionsCompetitive paid-time-off programs, including company-paid holidaysCompetitive Parental Leave Benefits & Adoption Assistance programEmployee Assistance ProgramTax-Free Commuter BenefitTuition Reimbursement & Professional Qualification benefits
In today's world, what do we stand for?
Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo.
Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone's unique contributions - we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.
our people . At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.
Job Description
Are you looking for your next opportunity?
Sompo has a unique opportunity for a
Ceded Re Accountant
on our
Ceded Reinsurance team.
Sompo's Ceded Reinsurance team is a globalized customer focused, dedicated and professional organization. The team is responsible for the purchasing and management of Ceded Reinsurance placements. The Ceded Accounting staff will provide accurate and timely production of financial statements, production reports, client receivables/payables and be actively involved in cash processing, collection and disbursement as well as any ad-hoc project requests. Additionally, be able to identify and research issues arising from processes and producing/communicating results in an accurate and timely manner, in order to achieve department standards and meet service level expectations.
Location:
This position will be based out of our
New York City
office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers. The team structure will align to the front-end business functions of Property, Casualty, Assumed Treaty Reinsurance and Specialty. The position reports to the Ceded Re Accounting Manager.
What you'll be doing:
Ceded Re Accounting:
Accurately and timely prepare and distribute Account Statements, Bordereaux, and XOL (Excess of Loss) recoverable invoicesPrepare XOL deposit premium settlements and calculate XOL premium adjustmentsSupport on reinsurance programs including collaboration and production of ceded premium and loss accounting, reinsurance premium and loss allocation as well as reinsurance receipt and disbursement processesDevelop strong relationships with clients to facilitate timely and accurate cash receipts and disbursementsManage reinsurance related aged debts and clear unallocated cashes
Client Relationships
Develop strong relationships within the Ceded Accounting and Operations teamsAbility to work on and resolve questions and partner with Claims, IT, Accounting, Underwriting and Operations departments as neededTroubleshoot data reconciliation and variance issues with operations, and resolving unallocated cash issues
Compliance
Maintain compliance to SOX, regulatory reporting and company policies, including analysis and reconciliation of reinsurance related accountsAssist in GAAP/IFRS year-end audit and annual STAT audit including providing information as requested by external auditor, premium confirmation letters and support for all requested balances
Ad-hoc project requestsWhat you'll bring:
Bachelor's degree Accounting or equivalent combination of education and work with 3+ years relevant experience in Reinsurance Accounting preferred
Solid understanding of accounting procedures, internal and external reporting and variance analysisPreference to understand contractual terms included in reinsurance contracts, with a focus on excess of loss contractsPreference to understand various reinsurance program arrangements (e.g. Pro-Rata and Excess of Loss Treaties), and demonstrate experience with handling accounting treatments
Must have proficiency with Microsoft Office Suite, Expert Level Excel Skills Required (Pivot Tables, V-Lookups, etc.) with SAP-GL, FSRI and FSCD experience preferredStrong analytical ability, and detail oriented with the ability to work on high volume of daily transactions with accuracyAbility to work in a fast paced, high volume team environment with rapidly changing priorities and demandsDesired personal qualities include: energetic, resourceful, hardworking, self-motivated, highly organized and able to prioritizeSalary Range:
$85,000 - $130,000 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.
At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:
Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contributionPharmacy benefits with mail order optionsDental benefits including orthodontia benefits for adults and childrenVision benefitsHealth Care & Dependent Care Flexible Spending AccountsCompany-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & childrenCompany-paid Disability benefits with very competitive salary continuation payments401(k) Retirement Savings Plan with competitive employer contributionsCompetitive paid-time-off programs, including company-paid holidaysCompetitive Parental Leave Benefits & Adoption Assistance programEmployee Assistance ProgramTax-Free Commuter BenefitTuition Reimbursement & Professional Qualification benefits
In today's world, what do we stand for?
Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo.
Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone's unique contributions - we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.