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Lead Reinsurance Accounting Strategist
2 months ago
Position Overview
The Lead Reinsurance Accounting Strategist will assume a pivotal leadership position, instrumental in propelling business expansion. This role encompasses the oversight of regular GAAP and STAT reinsurance reporting obligations, delivering comprehensive analyses of statutory penalties and remediation strategies, while guiding the team in refining reporting and analytical governance.
This individual will collaborate with both internal and external partners on collateral-related issues and coordinate across various functional teams, ensuring alignment of activities and deliverables with Controllership, Actuarial, Reinsurance, and FP&A, in support of the organization's broader objectives. Reporting directly to the Assistant Director of Reinsurance Accounting and Reinsurer Reporting, the selected candidate will manage a global cross-functional team of up to five resources, alongside an offshore team.
Key Responsibilities
- Lead a team in financial reporting tasks (GAAP/STAT), emphasizing quarterly and annual statutory statements, including disclosures, retroactive reinsurance accounting, and deposit accounting.
- Collaborate closely with the financial controls unit and internal/external audit teams regarding reinsurance matters.
- Oversee critical reinsurance accounting processes and the associated controls.
- Prioritize and address various broad and individual projects, focusing on process enhancement and transformation initiatives as they arise.
- Provide insights and recommendations related to optimal options and solutions for new and existing challenges, leveraging knowledge of current constraints.
- Engage with departmental senior management and interact with various levels of internal and external stakeholders.
- Expected to foster alignment through thought leadership, critical thinking, direction/context setting, and effective stakeholder communications.
Education:
Bachelor's Degree (preferably in Accounting or Finance)
Advanced degrees or designations in related fields (e.g., ARe, CPCU, MBA, CPA, MS, PhD, ACAS, FCAS) are advantageous.
Experience:
6+ years of pertinent experience within an insurance/reinsurance organization, with extensive ceded reinsurance experience; demonstrated ability to manage and lead teams; progressively increasing responsibilities in a large-scale environment.
Knowledge, Skills, and Abilities:
- In-depth understanding of reinsurance, including underwriting, claims, accounting, finance, and related processes, controls, and systems.
- Experience in managing reinsurance operations and financial aspects.
- Awareness of relevant industry trends and information.
- Proficient in financial analysis and modeling.
- Strong grasp of accounting principles and practices, insurance/reinsurance markets, and financial data analysis and reporting.
- Knowledge of strategic planning, resource allocation, leadership techniques, and coordination of personnel and resources.
- Technical and analytical expertise adaptable to current technologies.
- Familiarity with systems and technology utilized within the area of responsibility.
- Proficient technical skills in Microsoft Excel, Access, PowerPoint, and Word.
- Exceptional verbal and written communication skills, with significant experience interacting with executive management and external stakeholders.
- Strong negotiation, analytical, decision-making, problem-solving, and organizational skills.
- 5+ years of experience collaborating with diverse teams across multiple countries and time zones.
- Experience in process transformation and control improvement is a distinct advantage.
At American International Group, we recognize that our employees are our most valuable asset. We are committed to fostering a culture that values diversity and inclusion, providing a supportive environment for all team members. Join us in our mission to innovate and enhance insurance solutions globally.