Assistant Director, Reinsurance Finance

AIG

  • Wilton, CT
  • $140,000-165,000 per year
  • Permanent
  • Full-time
  • 9 days ago
This position requires an in-depth knowledge of reinsurance accounting including systems and processes. The individual must be able to read, understand and operationalize reinsurance contract terms contained in various types of reinsurance agreements. They also must be able to manage a staff both in the US and in India.Position Summary:
  • Manage processes within the Reinsurance Account Services unit of the AIG PC operation including the calculation, billing, collection of reinsurance transactions based on both GAAP/statutory accounting principles.
  • Manage Reinsurance operations staff including setting objectives, measuring results, and ensuring employee accountability and development.
  • Interface with reinsurance clients and colleagues both domestically and overseas.
  • Perform/oversee quarterly closing processes.
  • Support/provide quarterly analytics and explain balance sheet and income statements fluctuations.
  • Support reinsurance collateral positions
  • Support and collaborate with various teams in preparation of the annual and quarterly Schedule F
  • Assist with evolving contractual features emanating from changing regulatory environments.
  • Monitor Accounts Receivable and Payable balances due to/from Reinsurance Companies.
  • Support the Inter-company matching reconciliation process.
  • Assist with the Inter-company vertical reconciliation.
  • Review journal entries, General Ledger account reconciliations and cash disbursements.
  • Provide support with restructuring and sale of AIG entities and modify the reporting requirements.
  • Oversee the timely and accurate information flow to and from business partners both within and outside the organization, drive consistency, and maximize operational efficiency.
  • Liaison with Project Teams, Systems Groups, and Reinsurance Legal as Reinsurance Business expert on any reinsurance exposure issues/ projects.
  • Ensure Standard Operating Procedures are updated, training of onshore and offshore staff, and /or transition of tasks to ​offshore team are completed on timely and accurate basis.
Job Requirements:
  • 10+ years of relevant experience in an insurance/reinsurance company
  • Extensive ceded reinsurance experience; managing and leading others; increasing levels of responsibility in a medium to large scale organization
  • Advanced working knowledge of reinsurance and related contracts and claim recovery processes and reinsurance systems
  • Advanced working knowledge of business and management principles involved in strategic planning, resource allocation, leadership technique, and coordination of people and resources
  • Advanced working knowledge of managing financial operations and reporting
  • Advanced working knowledge of relevant trends and information within the industry
  • Advanced working knowledge of financial analysis and financial modeling
  • Advanced knowledge of accounting principles and practices, the insurance/reinsurance markets, and the analysis and reporting of financial data
  • Working knowledge of systems and technology utilized within area of responsibility
  • Strong technical skills in Microsoft Excel, Access, PowerPoint and Word
The base salary range for this position is $140,000-$165,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: .At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.Enjoy benefits that take care of what mattersAt AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.Reimagining insurance to make a bigger difference to the worldAmerican International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.Welcome to a culture of inclusionWe’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The talent of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please send an email to .Functional Area: FA - FinanceAIG PC Global Services, Inc.

AIG