Granard Consulting
Reinsurance Accountant
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Job Description
Salary
- Senior Manager: Up to £95k + bonus & benefits
- Assistant Vice President: Up to £110k + bonus & benefits
Summary of the Role
We are looking for an experienced Reinsurance Financial Accountant to support an accounting cleanup and transformation project. The role will focus on reconciling and validating reinsurance balances, identifying missing or incorrect calculations, resolving historical accounting issues, and improving the underlying processes and controls to ensure the books reflect complete, accurate, and true and fair values.
Key Responsibilities
- Perform detailed reinsurance account reconciliations and investigate aged, unmatched, or unexplained balances.
- Review reinsurance balances across source systems, sub-ledgers, calculations, and General Ledger.
- Identify missing, incomplete, or incorrect reinsurance calculations and accounting entries.
- Reconstruct and validate calculations manually where required, including premiums, claims, commissions, recoveries, adjustments, accruals, and other treaty-specific calculations.
- Determine root causes behind accounting and reconciliation differences and recommend appropriate remediation.
- Prepare supporting calculations and proposed accounting adjustment entries for client review and approval.
- Review the client's end-to-end reinsurance accounting processes, identifying control gaps, excessive manual activities, process inefficiencies, and system/data issues.
- Recommend an optimized future-state process, including stronger reconciliations, controls, standardization, and potential automation opportunities.
- Maintain clear documentation and audit trails for issues identified, calculations performed, adjustments proposed, and remediation completed.
- Work closely with Finance, Reinsurance Operations, Claims, IT/Data, and other client stakeholders to drive issues through to closure.
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Qualifications and Experience
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- Strong experience (5-15+ years) in reinsurance financial accounting within insurance, reinsurance. (5 years Snr Mgr & 10-15 years AVP)
- Good understanding of treaty and facultative reinsurance, including proportional and non-proportional arrangements.
- Strong knowledge of reinsurance premiums, claims, recoveries, commissions, accruals, settlements, and treaty-specific calculations.
- Hands-on experience with complex reconciliations, accounting remediation, and historical balance cleanup.
- Strong analytical and root-cause investigation skills.
- Advanced Excel and financial data analysis capabilities.
- Experience with finance transformation, process improvement, controls, or automation initiatives would be highly desirable.
- Qualified/part-qualified accountant such as CA, CPA, ACCA, ACA, CIMA, or equivalent preferred.
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