Head of Reinsurance Financial Operations

2 weeks ago

Wilton, Connecticut, United States AIG Full time

Position Overview:

This position is chiefly accountable for overseeing the Internal Assumed, Captive, and Aviation divisions within AIG's Reinsurance Controllership. These divisions are tasked with essential operational and financial management duties, encompassing the processing and financial disclosure of technical ceded and assumed accounts. Key functions include, but are not limited to: Premium and Loss Calculations, Statement and Proof of Loss Preparation, Intercompany Reconciliations, Quarterly Analytics, General Ledger/ Sub-Ledger Reconciliation Support, Cash Settlements, and Schedule F Management.

Key Responsibilities:

  • Lead Financial Reporting efforts (GAAP/STAT, 10Q/K, Schedule F, etc.)
  • Oversee critical reinsurance finance processes and the associated controls
  • Manage all financial reporting, accounting, and reconciliations for reinsurance activities, including full ownership of Schedule F Part 1 and specific ownership of Part 3
  • Conduct analytical assessments on quarterly Profit & Loss activities and balances as of the reporting date on both GAAP and STAT bases for reinsurance activities
  • Facilitate intercompany reconciliations to support the consolidation of AIG's financial statements and ensure SOX compliance for statutory reporting
  • Operationalize accounting and reporting for a global internal reinsurance program, including financial bookings and calculations of premiums and losses
  • Supervise a team responsible for cash settlements, statement, and invoice preparation
  • Engage in various committees to ensure coordination and communication across multiple teams
  • Support key strategic initiatives, including transformation activities under AIG Next
  • Collaborate closely with the financial controls unit, internal and external audit teams on reinsurance matters
  • Partner with local international controllership teams to implement internal reinsurance strategies
  • Provide expertise to various internal and external stakeholders through participation in steering committees
  • Prioritize and address broad and individual projects, process enhancements, and transformation activities as they arise
  • Offer guidance and recommendations regarding optimal solutions to new and existing challenges by leveraging knowledge of existing constraints
  • Maintain high visibility at the senior management level and interact with various internal and external stakeholders
  • Expected to foster alignment through thought leadership, critical thinking, and effective stakeholder communication.

Qualifications:

  • Extensive knowledge of Property & Casualty reinsurance, including underwriting, claims, accounting, finance, and related processes, controls, and systems.
  • Over 10 years of experience managing global reinsurance operations and finance.
  • Advanced understanding of relevant industry trends and information.
  • Strong grasp of accounting principles and practices, insurance/reinsurance markets, and the analysis and reporting of financial data.
  • Proficient in business and management principles related to strategic planning, resource allocation, leadership techniques, and coordination of personnel and resources.
  • Technical and analytical expertise adaptable to current technologies.
  • Strong technical skills in Microsoft Excel, Access, PowerPoint, and Word.
  • Excellent verbal and written communication skills with significant experience interacting with senior management and external stakeholders.
  • Exceptional negotiation, analytical, decision-making, problem-solving, and organizational skills.

Company Overview:

AIG is a global leader in commercial and personal insurance solutions, recognized for its extensive property casualty network. We are committed to innovative approaches that enhance our service delivery to customers. At AIG, we prioritize the development of our employees through continuous learning in a culture that values diversity and inclusion.

Commitment to Diversity:

AIG is dedicated to fostering a culture that respects and celebrates diverse talents, backgrounds, and perspectives. We actively promote inclusion through flexible work arrangements, diversity training, cultural awareness initiatives, and Employee Resource Groups (ERGs).

AIG is an equal opportunity employer, committed to providing reasonable accommodations to applicants and employees with disabilities.

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