Reinsurance Accounting Specialist

2 weeks ago


Markham, Ontario, Canada Aviva Full time
Job Summary

We are seeking a highly skilled Senior Reinsurance Analyst to join our team at Aviva. As a key member of our reinsurance team, you will be responsible for performing accounting functions and assisting in reporting functions, including the preparation of financial reports and schedules for internal and external partners.

Key Responsibilities
  • Analyze and set up reinsurance accounting processes for new and modified Aviva reinsurance businesses, working closely with the Senior Manager/AVP of Reinsurance.
  • Review, reconcile, and post client premiums, claims, and commissions bordereaux from cedants, reinsurers, and Managing General Agents, and perform accounting journal entries to record the financial impacts of reinsurance agreements.
  • Assist in the preparation of financial statements and regulatory reports/schedules and ensure timely filing with our regulator.
  • Reconcile statements of receivables and payable to reinsurers/cedants, outstanding losses, premium reserves held, claim reserves held, and open account, and prepare balance sheet reconciliations and other ad-hoc reports.
  • Analyze and process reinsurance billings, investigate discrepancies to clear aged accounts receivable and payable, and prepare trend analysis on proportional treaties.
  • Make payments to brokers/cedants for claims and process cash in the system, and prepare and submit loss development data to the Actuary for IBNR purposes.
  • Participate in cross-training of other analysts in our Reinsurance team and take part in reinsurance projects as assigned, providing back-up support in the absence of other team members.
  • Perform analysis and respond to internal and external client queries.
Requirements
  • A University degree with a business/accounting major or a college diploma in business/accounting major, and a professional accounting designation close to completion or completed (CPA, CA, CMA, CGA, or equivalent).
  • A minimum of 2 years of assumed and/or ceded reinsurance accounting experience, with knowledge of financial accounting processes and preparation of financial statements and regulatory returns.
  • Ability to work effectively with others in building team relations and connect with customers internally and externally, including brokers, cedants, reinsurers, external/internal auditors, and other Aviva teams.
  • Good written and verbal communication skills, strong analytical skills in resolving discrepancies, and detail-oriented and methodical approach.
  • 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, and working knowledge of Oracle General Ledger, with proficiency in PBCS/Blackline/MINDs/Qlik considered an asset.
What We Offer
  • A compelling rewards package, including base compensation, eligibility for annual bonus, retirement savings, share plan, health benefits, personal wellness, and volunteer opportunities.
  • Outstanding career development opportunities and support for professional development education.
  • A competitive vacation package with the option to purchase 5 extra days off per year.
  • Employee-driven programs focused on gender, LGBTQ+, origins, diversity, and inclusion.
  • Corporate wellness programs to support employees' physical and mental health.
  • A hybrid flexible work model.


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