Reinsurance Accounting Specialist

6 days ago

Markham, Ontario, Canada Aviva Full time
About Aviva

At Aviva, we believe that together, we can achieve great things. As a Senior Analyst, Reinsurance, you will be part of a dynamic team that is dedicated to providing exceptional service to our clients.

We are seeking a highly skilled and motivated individual to join our reinsurance team as a Senior Analyst, Reinsurance. This is an exciting opportunity for someone who is passionate about accounting and has a strong desire to work in a fast-paced environment.

Key Responsibilities
  • Analyze and set up reinsurance accounting processes for new and modified Aviva's reinsurance businesses alongside the Senior Manager/AVP of Reinsurance. Responsible for setting up new and renewing treaties in the financial accounting system based on legal documents and contract wordings.
  • Review, reconcile and post client premiums, claims and commissions bordereaux from cedants, reinsurers, and Managing General Agents. Perform accounting journal entries to record the financial impacts of the relevant reinsurance agreements.
  • Assist in the preparation of financial statements and regulatory reports/schedules and timely filing to our Regulator.
  • Reconcile statements of receivables and payable to reinsurers/cedants, outstanding losses, premium reserves held, claim reserves held and open account. Prepare balance sheet reconciliations and other ad-hoc reports.
  • Analyze and process reinsurance billings, investigate discrepancies to clear aged accounts receivable and payable. Prepare trend analysis on proportional treaties. Make payments to brokers/cedants for claims and process cash in system. Prepare and submit loss development data to Actuary for IBNR purposes.
  • Take part in cross-training of other analysts in our Reinsurance team. Participate in reinsurance projects as assigned. Provide back-up support in the absence of other members of our reinsurance team.
  • Perform analysis and respond to internal and external clients' queries.
Requirements
  • A University degree with a business/accounting major or a college diploma in business/accounting major. Professional accounting close to completing or completed designation: CPA, CA, CMA, CGA or equivalent.
  • A minimum of 2 years of assumed and/or ceded reinsurance accounting experience. Experience in financial accounting process and knowledge in preparation of financial statements and regulatory returns. Knowledge of the accounting principles and standards.
  • Ability to work effectively with others in building team relations.
  • Capable of connecting with customers internally and externally, including brokers, cedants, reinsurers, external/internal auditors, and other Aviva teams.
  • Good written and verbal communication skills required.
  • Strong analytical skills in resolving discrepancies. Detail-oriented and methodical. Accurate in analysis of invoices and preparation of financial reports and schedules.
  • Effective time management and organization skills to promptly meet timelines and incorporate work assignments.
  • Knowledge in interpreting reinsurance agreements and enforcing the application of the terms of the agreement.
  • Computer proficiency in Microsoft Word, Excel are required. Working knowledge of Oracle General Ledger desired. Proficiency in PBCS/Blackline/MINDs/Qlik would be considered an asset.
Salary Information

The estimated annual salary for this position is between $80,000 - $110,000, depending on qualifications and experience.

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