Accountant III

Company: AmTrust Financial Services, Inc.
Location: Jersey City
Posted on: May 13, 2022

Job Description:

Overview:
The Reinsurance Accountant III will be responsible for specific tasks as required by the AmTrust finance group which could include, reinsurance accounting, general ledger booking, reporting and management, account analysis, external reinsurer reporting and collateral management, billings, settlements, account reconciliations as well as the quarterly financial statement close.

Responsibilities:
Prepare assumed and ceded day to day reinsurance general ledger transactions, including preparation of supporting schedulesPrepare external Broker/Reinsurer reporting including statements/bordereauPrepare and/or coordinate the preparation of analytics on reinsurance balances for presentation to senior management.Prepare account reconciliations for reinsurance accounts, ensuring the reconciliations are fully supported by robust documentation and any reconciling items are fully identified.Prepare and/or review the quarterly and annual U.S. Statutory and U.S. GAAP financial reports for reinsurance balances and disclosures. This includes Schedule F or parts of the schedule F for assigned companies.Provide financial information to our reinsurers in accordance with the terms of our agreementsWork with external business partners (Brokers / Reinsurers / Agencies) is settling open recoverable / payable reinsurance balances, this includes working with brokers on collateral requirements and working with the companies Oracle AR sub-ledger in clearing open balances.Manage the collection and payment processes ensuring the timely and accurate booking, control, and collection/ escalation of overdue balances.Assists in the timely preparation of filings which include the annual statement and complianceContinually evaluate the processes and systems utilized and prepare well researched recommendations for enhancements.Maintain and complete an accurate set of Standard Operating Procedures for assigned processes, ensure adherence to those procedures. Review and approve SOPs maintained by the outsourced intercompany business partner.Perform routine activities including journal entries, account reconciliations, financial statement preparation, and other month-end close activities.Continually evaluate the processes and systems utilized and prepare well researched recommendations for enhancements.Maintain and complete an accurate set of Standard Operating Procedures for assigned processes, ensure adherence to those procedures. Review and approve SOPs maintained by the outsourced intercompany business partner.

Qualifications:
Bachelor's Degree in Business with a major in AccountingAdvanced Degree, CPA or CMA preferredPublic accounting experience preferred5-7 years of experience of insurance/reinsurance accounting experience, or 7 years of experience working in financeAbility to multi-task, prioritize, and manage workload to meet assigned deadlines in fast-paced environmentExcellent interpersonal and communication skills that highlights the individual's ability to work cooperatively and collaboratively with all levels of employees, management and third parties to maximize performance by improving current processes or implementing new processes as deemed necessaryAbility or prepare robust financial analysesWorking knowledge of accounting principles and practices, the insurance/reinsurance markets, and the analysis and reporting of financial dataTechnical and/or analytic expertise that can be adapted to current technologies;Ability to multi-task and work under pressure to meet deadlines.Ability to work independently, identify problems and propose viable solutionsMust be flexible and have demonstrated skills to work effectively in a team-oriented environment.Strong technical skills in Microsoft Excel, Access, Power Point and WordStrong initiative, problem solving, and interpersonal skills, plus an orientation toward continuous improvement are required.Strong verbal and written communication skills with significant experience interacting with executive management and external stakeholdersStrong negotiation, analytical, decision making, problem resolution and organizational skills;Process transformation and control improvement experience is a definite plusThis job description is designed to provide a general overview of the requirements of the job and does not entail a comprehensive listing of all activities, duties, or responsibilities that will be required in this position. AmTrust has the right to revise this job description at any time. -AmTrust Financial Services offers a great work environment, competitive compensation package and excellent career advancement opportunities. Our benefits include: Medical and Dental Plans, Life Insurance, Health Care Flexible Spending, Dependent Care, 401k Savings Plans, and Paid Time Off. - - -AmTrust strives to create a diverse and inclusive culture where thoughts and ideas of all employees are appreciated and respected. This concept encompasses but is not limited to human differences with regard to race, ethnicity, gender, sexual orientation, culture, religion or disabilities. -AmTrust values excellence and recognizes that by embracing the diverse backgrounds, skills, and perspectives of its workforce, it will sustain a competitive advantage and remain an employer of choice. - Diversity is a business imperative, enabling us to attract, retain and develop the best talent available. We see diversity as more than just policies and practices. It is an integral part of who we are as a company, how we operate and how we see our future. -AmTrust Financial Services is committed to a policy of Equal Employment Opportunity. -This job description is designed to provide a general overview of the requirements of the job and does not entail a comprehensive listing of all activities, duties, or responsibilities that will be required in this position. AmTrust has the right to revise this job description at any time. -#LI-NC1

Keywords: AmTrust Financial Services, Inc., Jersey City , Accountant III, Accounting, Auditing , Jersey City, New Jersey