Reinsurance Accounting Manager - Cash

Position Responsibilities:

• Ensure the data in the A/P sub-ledgers is complete, accurate and reliable including:
  
  
  
  • Pay, collect and properly apply balances in a timely and accurate manner.
  
  
  • Proper recording of cash calls.
  
  
  • Research and resolve all balances > 90 days
  
  
  • Develop/implement an effective collections process including an automated cash collection report and dunning letter process.
  
  
  • Provide regular status updates to management and ensure proper notification of problems/issues and recommendations for improvement.
  
  

• Develop/maintain a Cash Unit Production Calendar that documents the daily cash receipts and disbursements activity for ceded reinsurance balances including staff assignments, supervisor/manager review, completion dates and other data. This tool will be used to communicate management objectives (complete, timely and accurate processing) to the staff.

• Direct and motivate staff. Manage staff development activities.

• Develop timely and accurate cash flow models and related budgets and reports (weekly, monthly and annually).

• Prepare cash flow presentations to matrixed management teams.

• Maintain adequate internal controls for reinsurance accounts including:
  
  
  
  • The timely reconciliation and clearance of activity in the cash clearance accounts.
  
  
  • Ensuring on account cash balances are cleared within 30 days.
  
  
  • Ensure that reconciliations for all accounts are completed timely (within 45 days after the end of the quarter) and in accordance with corporate policy.
  
  
  • Work with teams to develop action plans to remediate reconciling items including the determination of staffing needs and completion timetable.
  
  

• Enhance, Develop and Implement Procedural and Internal Control Documentation, including the development of business processes and key controls, including, but not limited to:
  
  
  
  • Controls over intercompany cash settlement process.
  
  
  • Key Controls (SOX)
  
  
  • Management Controls - PwC/IAD MLCs
  
  

• Develop and implement departmental standards, including:
  
  
  
  • Reporting and workpaper requirements.
  
  
  • Meeting standards and follow up procedures.
  
  
  • Shared file organization and maintenance.
  
  
  • Staff training and development initiatives.
  
  
  • Support regulatory compliance and audit processes.
  
  

Desired Skills/Experience:

• At least 7-10 years of practical accounting and/or audit experience in the financial services industry

• Staff development and management experience required

• Insurance and/or Reinsurance experience preferred (Statutory and GAAP accounting principles)

• SOX control and GAAP financial reporting experience required

• Accounting and/or Finance degree required; CPA designation preferred

• Systems implementation and/or Project Management experience a plus

• Strong accounting, analysis and reconciliation skills

• Proven team building and leadership skills

• Solid oral and written communication skills

• Advanced Excel skills (Pivot Tables, V Lookup functions)