Job Description
This position is primarily responsible for the facilitating of ceded payables & recoverables for Chubb Overseas General’s Global Treaty reinsurance unit.Analyst will manage assigned programs for reinsurance related Accounting and Financial Functions on an international book of business.
Responsibilities
Key responsibilities include the timely billing/collection of third-party reinsurance recoverables, analyzing and reconciling financial/statistical data, and communicating with internal and external stakeholders, including:
- Primary responsibility is on managing third party excess of loss deposit premiums and premium adjustments across multiple lines of business for the Global Treaty Department’s Operations team, exceeding $500M annually.Work closely with internal finance teams, brokers and reinsurers to accurate forecasting, settlement, and accounting of balances due to and from the organization.
- Accurately maintain intercompany deposit premium and adjustment settlements and balances due to/from.Prepare adjustments and corresponding accounting entries as required, proactively collecting aging “on behalf of” balances.
- Manage a book of external proportional and excess of loss reinsurance to ensure billings are issued accurately and correctly, and contract terms are properly applied.Analyze large value claims, assessing and determining applicable reinsurance coverage, for responsible lines of business.Prepare quarterly bordereau and statements.Pursue collections with a goal of more than 90% of recoverables collected within 90 days.
- In the Global Treaty general ledger and SAPIENS reinsurance environments, promptly apply cash receipts/disbursements and register treaty adjustments while maintaining ledger balances in line with departmental and accounting guidelines.Assist with transitioning to new PeopleSoft AR ledger environment.Enter and configure treaties in SAPIENS as required.
- Perform accounting reconciliations on reinsurance balances payable accounts to accurately explain balance compositions and journal voucher activity.
- Utilize data warehouse systems to reconcile balances, prepare management reports and complete reporting activities in a timely manner. Review and reconcile accounting and statistical data to ensure the data integrity and accuracy of reported Reinsurance data.
- Consider existing processes and propose opportunities for enhancement, efficiency, automation and streamlining, as possible.Perform miscellaneous duties as required to achieve the overall objective of the position.
Qualifications
- Bachelor’s degree in Finance, Accounting, Business Analytics, or equivalent experience.
- Proficiency in Microsoft Office and other desktop applications.Working knowledge of specific software for the position including PeopleSoft, SAPIENS, Blackline, Alteryx, Informatica preferred.
- Insurance and reinsurance accounting knowledge a plus
- Attention to detail and ability to work with large data sets to provide concise data for decision making.Excellent communications skills – oral & written.
- Ability to prioritize and handle multiple tasks at the same time while meeting closing schedules and deadlines.
About Us
Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.
At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, and pregnancy or any other characteristic protected by law. Performance and qualifications are the only basis upon which we hire, assign, promote, compensate, develop and retain employees. Chubb prohibits all unlawful discrimination, harassment and retaliation against any individual who reports discrimination or harassment.
