Reinsurance Accounting/Operation

Band B2 – Reinsurance Accounting

Short Description for External Candidates

Looking for candidates having knowledge of US GAAP, Balance sheet reconciliation and Journal entries in system. Good excel skills have knowledge on pivot, H Look, V Look up, Copilot.

Description for External Candidates

• Prepare financial and management reporting
• Perform Regulatory reporting such Schedule P, Schedule F etc
• Review ceded premium and loss results from the reinsurance system
• Manage review of reinsurance payments to the brokers/reinsurers
• Review claims billings
• Perform accounting transactions, manual journals
• Perform GL Reconciliation

Technical Skills:

• Good knowledge of ceded reinsurance
• Sound analytical skill
• MS Excel and other office tools
• Have an understanding of US GAAP

Qualifications for External Candidates

Bachelor’s degree or Post Graduate in Accounting, MBA (Finance). Insurance/Reinsurance certifications preferred.

Band B1 – Reinsurance Accounting

Short Description for External Candidates

Looking for candidates having knowledge of US GAAP, Balance sheet reconciliation and Journal entries in system. Good excel skills have knowledge on pivot, H Look, V Look up, Copilot.

Description for External Candidates

• Prepare financial and management reporting
• Perform Regulatory reporting such Schedule P, Schedule F etc
• Review ceded premium and loss results from the reinsurance system
• Manage review of reinsurance payments to the brokers/reinsurers
• Review claims billings
• Perform accounting transactions, manual journal
• Perform GL Reconciliation

Responsibilities for External Candidates

• Managing accounting for Ceded Premium, commission, UEP, Claims, reserves and cash
• Calculation and booking of manual top side journals
• Performing Balance sheet and Intercompany reconciliations
• Preparation of Management & Financial Reporting
• Preparation of regulatory reporting

Qualifications for External Candidates

Bachelor degree in accounting 6-9 years of experience in Reinsurance Accounting.

Technical Skills:

• Good knowledge of ceded reinsurance
• Sound analytical skill
• MS Excel and other office tools
• Have an understanding of US GAAP
• Bachelor’s degree or Post Graduate in Accounting, MBA (Finance)
• Insurance/Reinsurance certifications preferred

Band B1 – Reinsurance Operations

Short Description for External Candidates

Managing ceded reinsurance operations task from Setting up treaty and FAC contracts in RI system, premium & claims, calculation of Profit/Sliding Scale Commissions, Reinstatement premium, Premium adjustments, Premium and claims cession management, bordereaux, billings & collections, treaty and FAC payments and cash application.

Description for External Candidates

This role requires the person to handle reinsurance contract life cycle from contract set-up to broker/reinsurer statements & billings & collections.

Responsibilities for External Candidates

Managing ceded reinsurance operations task from Setting up treaty and FAC contracts in RI system, premium & claims, calculation of Profit/Sliding Scale Commissions, Reinstatement premium, Premium adjustments, Premium and claims cession management, bordereaux, billings & collections, treaty and FAC payments and cash application.

Qualifications for External Candidates

Bachelor degree 4-6 years of experience in Reinsurance Operations.

Band B1/B2 – Reinsurance Operations

Work Experience Requirements

Primary Responsibility:

Complete Operation Management for Reinsurance processes.

Responsibilities:

• Timely and accurate delivery of daily, monthly and periodic processing of client requirements.
• Supports the team as a Reinsurance SME in day-to-day operations.
• Driving quality initiatives and transformation ideas.
• Drive and Measure robust process controls in the process.
• Lead a team of 8 – 15 Analyst / Sr Analyst.
• Manage level 2 escalations.
• SLA / Dashboard reporting.

Technical Skills:

• Strong knowledge of ceded reinsurance.
• Excellent analytical skill.
• MS Excel and other office tools.
• Knowledge of Genius / URS preferred.

Primary Internal Interactions:

• Team members for day to day operations support, queries, knowledge support.
• Sr/Manager/Sr. AVP for the purpose of reporting performance, escalation handling, clarifying concerns, seeking support and monthly evaluation of performance.
• PE team for any data requirements for process performance.
• Internal stakeholders like compliance, training teams, HR, transformation team.
• Internal auditors for process audits.

Primary External Interactions:

• Onshore teams for routine day to day tasks.
• Auditors for the purpose of getting Audit Requirements & supplying adequate documents.
• Trainers, SMEs, and Operations for the purpose of developing and updating training curriculum, provide feedback on training, and discussing specific action plans.
• Escalations team at client end for the purpose of seeking clarifications & answering queries.

Education Requirements:

Bachelor’s degree or Post Graduate in Accounting / MBA (Finance). Insurance/Reinsurance certifications preferred.

Band C1 – Reinsurance Operations

Short Description for Internal Candidates

A high-performing resource with deep Reinsurance and accounting process knowledge and demonstrated leadership capabilities, responsible for driving team performance, managing deliverables, and ensuring alignment with organizational goals, quality standards, and compliance requirements.

Description for Internal Candidates

Position Title: Manager – Reinsurance Operations and accounting

Function: Reinsurance Finance & Accounting / Operations

Location: Noida, India, Span of Control: 8–15 FTEs

1. Role Overview

The Manager – Reinsurance Operations is responsible for end-to-end delivery and governance of reinsurance processes, ensuring timely, accurate, and compliant execution of treaty/facultative operations, technical accounting, and financial reporting. The role involves leading teams, driving process controls, managing stakeholder expectations, and ensuring audit readiness.

This role requires strong expertise in ceded/assumed reinsurance lifecycle including contract setup, accounting, reporting, and claims handling.

2. Key Responsibilities

A. Operations & Delivery Management

Manage end-to-end reinsurance operations including:

• Contract setup (Treaty & Facultative)
• Premium, commission, and claims accounting
• Bordereaux / SOA processing
• Cash settlements and reconciliations
• Ensure timely and accurate delivery of daily, monthly, and quarterly activities.
• Monitor SLAs/KPIs and ensure adherence to client commitments.

B. Team Management & Leadership

Lead and manage a team of Analysts / Sr. Analysts / AMs.

• Drive Performance management.
• Training and knowledge development.
• Backup planning and cross-skilling.
• Provide SME support and resolve complex operational issues.

C. Financial Control & Compliance

Ensure strong control framework across:

• Journal Entries (MJE) and GL reconciliations.
• Balance sheet substantiation.
• Regulatory and financial reporting.
• Drive audit readiness (SOX / Internal / External audits).
• Implement and monitor process controls and documentation standards.

D. Stakeholder Management

Interface with:

• Onshore stakeholders / clients.
• Auditors and compliance teams.
• Internal functions (Training, Quality, Transformation, Finance).
• Manage escalations and ensure timely resolution.

E. Reporting & Analytics

Oversee:

• Financial and management reporting.
• Regulatory reporting (e.g., Lloyd’s / IFRS / Solvency / NAIC) if applicable.
• Drive dashboarding, SLA reporting, and insights for senior leadership.

F. Process Improvement & Transformation

Identify opportunities for:

• Automation (e.g., BDX / reporting / reconciliations).
• Process standardization and efficiency.
• Lead Lean / Six Sigma / transformation initiatives.
• Enhance productivity and reduce errors.

3. Technical Skill Requirements

Strong understanding of:

• Ceded & Assumed Reinsurance.
• Treaty & Facultative contracts.
• Reinsurance accounting (premium, claims, reserves).

Experience in:

• GL accounting, reconciliations.
• Regulatory reporting and compliance.

Tools:

• MS Excel (Advanced).
• Reinsurance systems (Genius / URS / SAP / Oracle preferred).

4. Qualifications

Bachelor’s degree in accounting / finance. MBA and accounting preferred. Reinsurance / Insurance certifications preferred.

5. Experience

7–12 years of experience in Reinsurance Operations / Accounting. Strong exposure to:

• End-to-end reinsurance lifecycle.
• Team management (8–15 FTEs).
• Client/stakeholder interaction.

Band C2 – Reinsurance Ops

Short Description for External Candidates

Experienced Senior Manager with strong practical expertise in Reinsurance Operations, including both Ceded and Assumed Reinsurance processes. Proven ability to lead end-to-end operations, manage large team sizes, ensure SLA adherence, and drive process excellence through quality and control initiatives. Hands-on experience in handling client deliverables, managing escalations, supporting audits, and collaborating with onshore stakeholders. Strong analytical skills with proficiency in MS Excel and working knowledge of reinsurance and finance systems. Flexible to work across any shift timing to support global business operations.

Description for External Candidates

Practical experience in the Reinsurance domain with strong knowledge of both Ceded and Assumed Reinsurance functions.

Experience in managing end-to-end reinsurance operations and leading large teams sizes.

Strong understanding of reinsurance processes, process controls, SLA management, dashboard reporting, and escalation handling.

Ability to drive quality initiatives, process improvements, and operational transformation.

Excellent analytical and problem-solving skills with proficiency in MS Excel and other Microsoft Office tools.

Experience in DuckCreek RI system and Oracle Financial system preferable.

Experience collaborating with onshore teams, auditors, internal stakeholders, and cross-functional teams.

Flexible to work in any shift to support global operations.

Responsibilities for External Candidates

• Drive quality initiatives, process improvements, and transformation projects.
• Establish, monitor, and measure robust process controls.
• Lead, mentor, and manage large team sizes.
• Handle Level 2 escalations and ensure timely resolution.
• Prepare and monitor SLA and operational dashboard reports.
• Collaborate with internal stakeholders including Compliance, HR, Training, Transformation, and Process Excellence teams.
• Coordinate with onshore teams for daily operational activities.
• Support internal and external audits by providing required documentation and ensuring compliance.
• Work with trainers and SMEs to enhance training materials and improve team capability.

Qualifications for External Candidates

Bachelor's degree or equivalent qualification.

Practical experience in the Reinsurance domain & 12+ years of experience in reinsurance domain.

Strong knowledge of Ceded Reinsurance and understanding of Assumed Reinsurance processes.

Knowledge of Duck Creek RI system and Oracle Financial system preferable.