Assumed Reinsurance Accountant

Job Description

Are you looking for your next opportunity?

Sompo has a unique opportunity for an Assumed Reinsurance Accountant in our Assumed Reinsurance team.

This team works within the Reinsurance Operations team and the position reports to the Assistant Vice President, Assumed Reinsurance Accounting.

Location: This position will be based out of our New York office locations. We strive for collaboration which is why we offer a work environmentwhere our employees thrive and develop long lasting careers.

Our business, your impact, our opportunity:

What you’ll be doing:

• Analyze, identify and maintain accurate treaty accounts.  This includes handling Contingent Commissions, Sliding Scale Commissions, Retrospective Rate Adjustments and Premium Adjustments and processing accounts, ensuring data captured is accurate an within agreed timeframes.
• Assist with managing treaties which include processing and preparing accounts as well as analyzing statistics.
• Ensure data quality/contract setup in reinsurance systems.
• Develop strong relationships with the Brokers and underwriting community to facilitate timely and accurate processing of account.
• Collaborate with our cash department regarding overdue balances to reduce Accounts Receivables
• Provide back-up support for accounts processed and interact with claims department to ensure that claims in reference to specific brokers are processed.
• Prepare missing account listing to notify brokers on overdue accounts not received on a timely basis.
• Liaise with cash analysts, underwriting depts., claims dept., brokers and clients to resolve queries.
• Assist in managing receivables and suspense amounts.
• Assist in various project as deemed appropriate by management.

What you’ll bring:

• Bachelor’s degree in Accounting, Finance or Business related field.  Industry designations a plus (i.e. ARe, AINS)
• 1 to 3+ years of reinsurance accounting with knowledge of reinsurance principles ideal.  
• Business line knowledge useful along with knowledge or experience in an industry role such as claims
• Ability to learn and adapt in a dynamic environment
• Strong verbal and written communication skills, Ability and confidence to challenge existing procedures & use of system

• Detailed oriented and strong problem solver with analytical abilities,
• Demonstrated positive attitude and works well within a Team environment

• Strong computer skills – knowledge of Microsoft Excel Pivot Tables, V-Lookups, and MS PowerPoint preferred
• Demonstrated customer service orientation

Salary Range: $75,000 – $120,000.  Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.

At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.

Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms.  The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.

We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents.  Below is a summary of our current comprehensive U.S. benefit programs:

• Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution
• Pharmacy benefits with mail order options
• Dental benefits including orthodontia benefits for adults and children
• Vision benefits
• Health Care & Dependent Care Flexible Spending Accounts
• Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children
• Company-paid Disability benefits with very competitive salary continuation payments
• 401(k) Retirement Savings Plan with competitive employer contributions
• Competitive paid-time-off programs, including company-paid holidays
• Competitive Parental Leave Benefits & Adoption Assistance program
• Employee Assistance Program
• Tax-Free Commuter Benefit
• Tuition Reimbursement & Professional Qualification benefits

Who we are and what we stand for:

At Sompo, our shared purpose is to create meaningful value for clients, communities, and each other. We strive to foster a workplace where everyone feels respected, included, and empowered to excel. As a global organization, we embrace diversity and champion equal opportunity. Guided by our core values—Accountability, Agility, Collaboration, Development, and Integrity—we build trust and support one another to achieve our goals worldwide. Life at Sompo page

Our values come to life in how we hire and grow talent. Employment decisions are based on qualifications, merit, and organizational need, and we strive to ensure equitable access to opportunities so everyone can do their best work. If you need an accommodation for any part of the application process, please contact the recruiter in charge.