Reinsurance Supervisor
Accounting Department
S. Reynolds & Associates, Inc. is under contract with a major Financial Services company - who with their affiliated companies, can quickly customize, creatively market and efficiently mange innovative financial protection programs, from credit insurance and payment protection to service contracts and warranties – a Reinsurance Supervisor for their Corporate offices located in Jacksonville, FL.
Key experience required for the position: technically strong in reinsurance; strong accounting skills; CPA with Public Firm experience a plus; an energetic individual with excellent managerial skills, outstanding work ethic and desire to advance their career. Credit experience not an issue but 7-10 years in the insurance industry is a must. This position reports to the Executive VP/CFO and had 4 direct reports. Upward mobility exists at the corporate offices or in the field at 5 Divisions. Some relocation provided.
Company provides proactive family values and activities, including personal trainers, weekly fruit deliveries, on-site nurse, and annual picnic at Universal. 65% of heal benefits company paid.
Ideal candidates should come from industries like: Aeon; Ace Group; Central State Insurance; American Bankers; American National; etc.
SUMMARY
This position exists to ensure the full completion of all accounting responsibilities for reinsurance arrangements, including the establishment of proper controls to ensure accurate and timely monthly, quarterly and annual work requirements. Various other responsibilities exist to provide leadership in working with other accounting departments and areas of the company on related duties. Proactive assistance is critical with Financial Reporting, Budgeting, and Cash Accounting departments, as well as with the Marketing department for new and prospective clients.
Reinsurance Standard Duties
- Directly accountable for managing the completion of all stand alone reinsurance company monthly work requirements, including the preparation of ceding statements and the related general ledger reconciliations, cash settlement, and client needs.
- Directly responsible for monitoring reinsurance trust accounts and letters of credit to ensure all related statutory companies receive proper reserve credit.
- Directly accountable for ensuring completion of corporate accounting duties for CRC Reassurance Company and all related needs of common & preferred shareholders, which includes ceding statement preparation, cash flow analysis, preferred shareholder financial statements, and corporate closing entries.
- Responsible for ensuring all financial reporting, tax and licensing requirements of corporate reinsurance clients are completed on an accurate and timely basis, including both internal and externally outsourced work.
- Directly responsible for the implementation of new reinsurance clients, including but not limited to constructing reinsurance proformas and supporting analysis needed to file with Application & Business Plan when forming offshore reinsurance companies, setup of system reinsurance tables, drawing up reinsurance & custodial agreements, establishment of trusts/LOC’s to fund reserves, and coordination of all offshore regulatory requirements.
- Directly responsible for ensuring all corporate reinsurance premiums and claims are properly accounted for and the related fees, taxes, allowances, and reserves are calculated correctly.
- Responsible for ensuring that all corporate financing and surplus relief reinsurance are correctly calculated, reconciled to the general ledger and cash settled, including experience refund calculations.
- Responsible for the production of loss development and lag analysis data for Protective Life, Lyndon Property, Lyndon South, & Insurance Company of the South, including the coordination of data for actuarial needs.
- Directly accountable for managing all year-end accounting needs for corporate reinsurance clients and selected corporate financial reporting needs.
- Directly responsible for the quarterly and annual preparation of Schedule S and Schedule F for all of Life of the South’s statutory companies.
- Directly responsible for ensuring accurate excess reinsurance accounting, including the payment of reinsured premium and the proper recovery of claims.
Other Duties
- Assist where needed in the annual budgeting process for our corporate companies with specific emphasis on helping to develop accurate historical information and reinsurance commission forecasts.
- Complete quarterly “Recon Books” to provide sufficient backup and reconciliations for our corporate general ledgers associated with all reinsurance and commission arrangements.
- Assist on other assigned special projects as needed.
PERFORMANCE CRITERIA
- Be a self starter and show ability to meet deadlines and goals in a limited time frame.
- Ability to effectively deal with outside company departments.
- Ability to work independently and make effective decisions to complete work assignments.
- Ability to work with, train and motivate subordinates, as well as associates in other areas in required work assignments.
- Exhibit proper leadership skills necessary to complete assigned work and initiate proactive action for new work requirements.
REQUIRED SKILLS & EXPERIENCE
- Four year college degree in Accounting or Finance, preferably Masters degree or CPA.
- Advanced knowledge of insurance accounting and reinsurance, preferably credit insurance & related products.
- Knowledge of offshore reinsurance company formation and administration.
- Knowledge and understanding of agent compensation programs such as retrospective/experience rated commission arrangements.
- Excellent communication skills, both oral and written.
- High degree of tact and good judgment, especially with corporate clients and marketing personnel.
- Advanced mathematical, software, and problem solving skills.
Please submit your resume to: sjoakman@gmail.com
