Director of Reinsurance Accounting

Description

POSITION SUMMARY:

The Director of Reinsurance Accounting is responsible for the strategic leadership and operational oversight of the reinsurance accounting function, including financial reporting, regulatory compliance, internal controls, cash and settlement activity, and accounting policy execution. This role leads the reinsurance accounting team, partners with senior leadership and external stakeholders, and drives process improvement initiatives that support scalable growth, operational excellence, and accurate reporting across reinsurance programs.

The Director provides technical accounting guidance, leads the implementation and interpretation of accounting policies, and ensures appropriate treatment of complex, judgmental, and non-standard reinsurance transactions. This role requires the ability to influence senior management, communicate effectively with external partners, and translate technical reinsurance matters into clear business implications for leadership decision-making.

KEY RESPONSIBILITIES AND ESSENTIAL FUNCTIONS:

• Able to provide accurate guidance and documentation on complex reinsurance arrangements in accordance with GAAP and Statutory Accounting Principles (SAP)
• Own the timely and accurate month-end, quarter-end, and year-end close processes for the reinsurance accounting function, including review, approval, issue resolution, and executive-level reporting of key risks and results.
• Provide strategic direction for reinsurance accounting operations, ensuring alignment with company objectives and compliance requirements.
• Review and approve analysis of account balances, resolve discrepancies, and ensure appropriate adjustments and reconciliations for all reinsurance program accounts, including TRS fiduciary accounts.
• Provide executive oversight of reinsurance contract accounting, claims submissions, recoveries, and settlement activity, ensuring contractual obligations, financial reporting requirements, deliverables, and deadlines are met across reinsurance programs.
• Serve as a key escalation point for claim disputes, recoveries, audits, and complex reinsurance matters.
• Lead vendor audit processes, ensuring timely and accurate completion of requests.
• Manage ledger setup and maintenance for new vendors and programs to ensure accuracy and compliance.
• Oversee reinsurance cash transactions, including approvals and reconciliation processes.
• Direct payments coordination between clients and reinsurers, resolving complex premium and claim discrepancies.
• Lead year-end funding processes to ensure timely and accurate completion for clients.
• Provide technical expertise to insurance companies on reinsurance transactions, including reporting, calculations, Schedule F funding requirements, and Letters of Credit compliance.
• Monitor accounts receivable and payable balances for reinsurance, ensuring effective cash flow management.
• Set the strategic direction for automation, workflow optimization, and process improvement initiatives that strengthen controls, improve scalability, reduce manual effort, and enhance the timeliness and accuracy of reinsurance accounting operations.
• Design, implement, and monitor processes, controls, and key performance metrics for the reinsurance accounting function.
• Collaborate with senior leadership, broker management, and accounting teams on new program onboarding, revenue reconciliations, and strategic projects.
• Oversee banking information management for clients and reinsurers, ensuring security and accuracy.
• Lead the reinsurance accounting team, providing coaching, mentorship, and performance management to ensure development and retention of top talent.
• Develop and deliver staff training on current and new technologies, systems, and accounting standards.
• Maintain professional and technical knowledge through continuous learning and participation in industry forums.
• Perform other leadership duties and strategic initiatives as assigned.

Requirements

• Bachelor’s degree in Accounting, Finance, or related field; CPA preferred.
• 10+ years of progressive reinsurance accounting experience, including significant leadership responsibility for reinsurance operations, statutory or GAAP reporting, accounting policy, internal controls, and complex reinsurance transactions.
• Extensive experience with reinsurance accounting, bordereau and settlement activity, ceded and assumed reinsurance transactions, claims accounting, recoverables, premium and commission activity, Schedule F reporting, Letters of Credit, and related financial reporting requirements.
• Demonstrated success in leading teams, developing talent, and managing high-performing accounting functions.
• Strong strategic thinking, problem-solving, and process improvement skills.
• Advanced proficiency with Microsoft Excel and experience using ERP, reconciliation, reporting, workflow, and reinsurance or insurance accounting systems to improve reporting accuracy, operational efficiency, and process controls.
• Excellent communication skills with the ability to influence and collaborate at all organizational levels.
• Proven ability to manage multiple priorities in a fast-paced environment while ensuring accuracy and compliance.
• Knowledge of GAAP, statutory accounting principles, and best practices in internal controls.