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Senior Reinsurance Accountant
London, UK
AXA XL is looking for a highly organized and analytical Senior Reinsurance Accountant to join the Ceded Reinsurance Team in London, UK.
Responsibilities include:
* Managing reinsurance program ensuring that complex reinsurance contracts are correctly interpreted to determine the accurate accounting for it; all entities covered are accounted for in relevant systems.
* Sustainably improving AxaXL's net risk/return profile with an emphasis on enhancing shareholder value through reinsurance contract setup, ceded premium booking/billing/payment, loss recovery calculation, and recoveries collection from reinsurers.
* Working closely with the actuarial team to ensure correct reinsurance premium allocation based on global treaty terms.
* Partnering with Ceded Re Buyers and Business Units to prepare and evaluate ceded premium allocation to accurately impact business unit financial results.
* Managing multi-system/manual calculations of global claim aggregation/exhaustion and actuarial allocation to multiple systems of claim recoveries.
* Responsible for month-end, quarter-end, and year-end closing processes of assigned reinsurance program for all relevant systems technical accounts.
* Understanding NAIC requirements for Schedule F and New York State Department of Financial Services requirements for insurance company financial statement preparations related to reinsurance transactions.
* Direct communication with external clients regarding contractual agreements accounting/cash flow and management of the company's collateral process.
* Managing daily activity regarding collateral decreases and withdrawals, ensuring proper communication and documentation.
* Developing, recommending, and implementing continuous improvements to processes, reports, and technology solutions.
* Training the offshore team.
* Performing monthly data quality/verification processes and explaining any discrepancies found.
* Acquiring and commanding knowledge of the systems used within the company (ProCede, WINS, CH GENIUS, Hartford GENIUS, The Frame, Global Claims System, Documentum).
You will report to the Head of Regional Accounting Operations, Ceded Reinsurance, United States.
Required Skills and Abilities:
* Bachelor's Degree in business, finance, accounting, or a related area.
* Moderate to extensive reinsurance accounting experience required.
* Experience in Finance and/or Reinsurance industry or equivalent combination of training and experience.
* Knowledge of various forms of reinsurance, specifically XOL contracts as relates to loss application and calculation.
* Understanding of functions pertaining to ceded reinsurance accounting.
* Successful completion of industry professional designations - CPCU, AIAF, or ARe preferable.
* Excellent written and oral communication skills.
* Proven efficiency in multitasking, with attention to detail.
* Proficient in Microsoft Office (Excel, Word, Access). Knowledge of SQL is preferred.
* Excellent research and analytical skills, robust financial reconciliation skills.
* Display excellent customer relation skills, as well as result-driven.
AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks.
AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic.
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