Sr Reinsurance Accountant

UFG is seeking a Senior Reinsurance Accountant who will be responsible for the accurate accounting, reporting, and analysis of United Fire Group’s (UFG) reinsurance transactions. This role oversees and performs procedures to ensure all ceded and/or assumed reinsurance activity is properly recorded in accordance with GAAP and statutory accounting principles while maintaining data integrity across subledger and financial reporting systems.

Working closely with Finance leadership, Actuarial, and Reinsurance Operations, the Senior Reinsurance Accountant provides technical research and other accounting support related to treaty execution activities, cash settlements, and reconciliations. This individual also assists in implementing process improvements, strengthening internal controls, and supporting both external and internal audit requests. The ideal candidate demonstrates strong analytical skills, a deep understanding of reinsurance accounting practices, and the ability to work both independently and collaboratively in a complex insurance environment.

Essential Duties and Responsibilities:

Reinsurance Operations & Reporting

• Prepare and review complex ceded and/or assumed reinsurance journal entries, reconciliations, and supporting schedules for monthly, quarterly, and annual closings.
• Assist with the preparation and review of reinsurance-related financial statement disclosures, statutory schedules, and management reports.
• Analyze reinsurance results and variances, providing insights and explanations to management.
• Proactively identify and resolve accounting and/or process issues.
• Review treaty terms and documentation to ensure proper accounting treatment (i.e., GAAP, statutory accounting principles) and alignment with company policies.
• Collaborate with business partners across actuarial, underwriting, claims, and finance to resolve discrepancies and ensure data integrity.
• Support cash settlement processes, including billing, collections, and reconciliations of reinsurance receivables and payables.

Governance & Controls

• Maintain SOX-compliant documentation, ensuring adherence to company policies and internal control requirements.
• Assist with audit requests, including internal controls and testing evidence.

Collaboration & Process Improvement

• Actively participate and contribute to continuous improvement initiatives aimed at optimizing processes, standardizing reporting, and automating data flow.
• Mentor other team members by sharing knowledge and modeling best practices in reinsurance accounting and reporting.
• Support system enhancements and testing related to reinsurance accounting or financial reporting applications.
• Collaborate with cross-functional teams including operations and IT to support finance transformation initiatives designed to modernize systems and standardize financial processes.
• Perform other duties as assigned to support the reinsurance team and company goals

Job Specifications: 

Education:

• Bachelor’s degree in accounting or finance required.
• Certified Public Accountant (CPA) or progress toward certification preferred.

Experience:

• 3–6 years of reinsurance or insurance accounting experience
• Prior experience within property and casualty insurance, preferred

Knowledge, skills & abilities: 

• Strong understanding of GAAP and statutory accounting principles.
• Strong analytical and problem-solving skills with attention to accuracy and detail.
• Advanced proficiency in Microsoft Excel (pivot tables, VLOOKUP, complex formulas)
• Experience with financial systems or reinsurance subledgers desirable.
• Excellent communication and collaboration skills across cross-functional teams.
• Ability to manage multiple priorities, meet deadlines, and work effectively in a dynamic environment.
• Demonstrated ability to work both independently and collaboratively in a team setting
• Process improvement mindset with ability to identify and implement efficiency enhancements
• Critical thinking skills and sound professional judgment

Working Conditions:

• General Office Environment
• Travel Requirements: Infrequent travel, only as needed

Pay Transparency Statement: 

UFG Insurance is committed to fair and equitable compensation practices. The base salary range for this position is $85,991 - $113,412 annually, which represents the typical range for new hires in this role. Individual pay within this range will be determined based on a variety of factors, including relevant experience, education, certifications, skills, internal equity, geography and market data.  

In addition to base salary, UFG Insurance offers a comprehensive total rewards package that includes: 

• Annual incentive compensation
• Medical, dental, vision & life insurance
• Accident, critical Illness & short-term disability insurance
• Retirement plans with employer contributions
• Generous time-off program
• Programs designed to support the employee well-being and financial security.

This pay range disclosure is provided in accordance with applicable state and local pay transparency laws.