Reinsurance Accountant

Reinsurance Accountant

At AIG, we are reimagining the way we help customers to manage risk. Join us as a Reinsurance Accountant to play your part in that transformation. It’s an opportunity to grow your skills and experience as a valued member of the team.

Make your mark in Finance

Our Finance team plays an essential role in maintaining a healthy balance sheet at AIG. It delivers significant finance support for the overall enterprise, optimizing operations, controllership, funding, and capital structure to honor our stakeholder commitments. The team’s work is invaluable to informing leadership decision making, complying with regulatory requirements, and maintaining financial discipline, transparency, and controls, while providing timely and meaningful information.

How you will create an impact

Reinsurance Operations & Cash Management

• Collection of loss recoverable: Monitor, calculate and bill reinsurance claims (loss recoverable). Actively pursue collections from reinsurers and resolve billing disputes in a timely manner.
• Payment of ceded premium: Calculate, verify, and process premium payments due to reinsurers based on treaty and facultative contract terms.
• Account reconciliation: Reconcile assumed and ceded premium, commission, and loss accounts against reinsurance ledgers and broker statements

Financial & Statutory Reporting

• Monthly/Quarterly closing: Prepare journal entries, monthly financial statements inputs, and variance analysis related to reinsurance assets, liabilities, and income items.
• Statutory Schedule F: Lead the preparation, verification, and filing of Schedule F, ensuring accurate calculation of unauthorized reinsurance penalties, provision of reinsurance, and additional requirements.
• Puerto Rico Regulatory Reports: Compile and submit mandatory financial reports required by the Office of the Commissioner of Insurance of Puerto Rico (OCS), ensuring alignment with both US GAAP and Statutory Accounting Principles (SAP).

Audit and Compliance

• Assists internal and external auditors during annual financial audits and OCS regulatory examinations by providing necessary schedules, reconciliations, and contract documentation of reinsurance programs in place.
• Monitor reinsurance contract terms and conditions to ensure accounting treatments match specific treaty triggers and clauses.
• Maintain robust internal controls over reinsurance processes in compliance with Company’s control framework.

Any other additional/related job responsibilities required by AIG to support the Department and the Company.

What you’ll need to succeed

• Bachelor’s degree in accounting, finance or a related business field is required.
• This role is for candidates with experience in job-related tasks and within the Property and Casualty insurance or reinsurance sector.
• Proven experience in supporting the preparation of Schedule F and navigating Puerto Rico OCS filing requirements.
• Advanced proficiency in MS Excel (VLOOKUPs, pivot tables, complex data manipulation) and familiarity with accounting system SAP.
• Skills to effectively interact with all levels of staff and management.
• Strong communication skills to effectively manage relationships with international reinsurers, brokers, and local regulatory bodies.
• Time management, customer service and attention to details skills.
• Fully bilingual in English and Spanish (written and verbal) is required for interacting with local regulators and global reinsurance partners.

• Analytical and problem-solving capabilities to be able to identify trends, investigate discrepancies in broker statements, and interpret reinsurance contract wording.  

• Ability to multitask with a variety of systems and processes.

Ready to step up to new challenges? We would love to hear from you.

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 matters

At 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 world

American 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 inclusion

We’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 [email protected].  

FA - Finance

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