Reinsurance Clerk jobs in Newark, NJ

$103040 - $128800

About us

Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully tailored solutions. We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism. Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded.

The role

Join Our Team and Shape the Future of Reinsurance Accounting at Aspen!

Elevate your career in reinsurance accounting with Aspen, the pioneering force reshaping the industry. Leverage over 7 years of insurance expertise to manage all facets of US ceded reinsurance accounting, from intricate financial treaty interpretations to crafting internal controls. Your analytical finesse, collaterals management, and mastery of GAAP and STAT reporting will thrive in our dynamic environment, supported by cutting-edge tools like Excel, Power BI, and the Procede System. Join us to redefine the future of reinsurance at Aspen – where innovation meets excellence, and your journey becomes a transformative expedition.

Key accountabilities

• Manage all aspects of US ceded reinsurance accounting.
• Assist in leading and providing oversight of ceded reinsurance staff including the U.K. Ceded Accounting (ORA) team as needed.
• Review and interpret financial components of reinsurance treaties.
• Manage the review, recording and intercompany settlement of US portion of all Group Treaties.
• Monitor the financial results of Group treaties.
• Assist in managing the US Collateral needs and reporting
• Assist in managing the US related billings, collections and payments handled by the UK team as needed.
• Review and/or prepare general ledger journal entries for GAAP & STAT.
• Prepare and review statutory quarterly and annual statement exhibits including notes.
• Involvement in monthly/quarterly management reporting, reporting to U.K. parent and quarterly board and external reporting.
• Assist in development and implementation of internal controls and development and documentation of accounting policies and procedures.
• Review relevant accounting regulations (ie. FASB, SAP, etc) and assess our compliance.
• Timely and accurate reporting
• Strong analysis and understanding demonstrated from data
• Clear and concise commentary provided for management reports
• Attention to detail and ensuring data integrity
• Contributes to, monitors and advises on the plan developments and changes in order to ensure relevancy, compliance and optimal delivery
• Assists in the preparation and implementation of the operational team plans to ensure these are in line with wider business strategy and reflect key priorities
• Assist in development and implementation of internal controls and development and documentation of accounting policies and procedures.
• Review relevant Accounting regulations (ie. FASB, SAP, etc) and assess our compliance.
• Ensure company, market and client related documentation is issued (internally and externally) accurately and on time where applicable.

Skills & experience

• Over 7 years of insurance experience with a heavy background in Ceded Accounting / Outwards Reinsurance.
• Advanced working knowledge of MS Excel and Power BI
• Procede System knowledge a plus.
• Reinsurance Collateral management experience a plus
• Expertise in financial analysis of insurance and reinsurance data
• Must have working knowledge of GAAP and STAT reporting fundamentals
• Excellent analytical, problem solving, customer service, oral and written communication skills.
• Bachelor’s degree in Accounting or Finance
• Property and Casualty insurance industry experience required

Other

We are an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.

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