Accountant I

Overview

The Reinsurance Accountant I will play a key role in supporting the goals and objectives of AmTrust Financial Services. The role interacts with underwriting, claims and the actuarial departments to ensure the proper interpretation and recognition of complex reinsurance agreements. This is a great opportunity to be part of an exciting fortune 500 organization that is growing and at the same time transforming its accounting and reinsurance platforms to meet the needs of a global organization.

Responsibilities

Responsibilities

· Work with reinsurance Brokers and/or Reinsurers in verifying ceded Facultative Certificates and timely process FAC CERT payments. Includes tracking all FAC CERT payments and reconciling payments against Amtrust Accounts Payable systems

· Prepare reinsurance workpapers (cession statements and/or bordereau’s) at the direction of management and record general ledger and sub-ledger entries based on work-paper results and management’s direction

· Prepared and/or work on reinsurance department internal controls, including general ledger reconciliations to sub-ledger applications including Accounts receivable sub-ledger and Accounts payable sub-ledger

· Provide accounting and administrative support on ceded and assumed reinsurance agreements including collaboration and production of ceded premium and loss accounting, reinsurance premium and loss allocation, reinsurance receipts and disbursement processes.

· Timely and accurate processes settlements and receipt collections for assigned reinsurance account statements, on or Quota Share and XOL agreements; including, ensuring all open reinsurance recoverable balances are aged based on company aging procedures

· Review unusual reinsurance Claim activity using Amtrust Claim systems to clarify client (brokers/reinsurers) queries and obtain missing information related to the reinsurance accounting record

· Prepare quarterly and annual financial schedules for reinsurance balances, at the direction of management and assist with period-on-period analytics, of reinsurance balances, for presentation to management

· Completion of Key Assignments/Special Projects that may be assigned from time to time.

Qualifications

Qualifications

· 1- 3+ years’ experience in Accounting/Finance; with emphasis on insurance/reinsurance background

· Bachelor's degree in Accounting, Finance or Insurance

· Ability to multi-task, prioritize, and manage workload to meet assigned deadlines

· Has strong interpersonal, communication, and organization skills, with the ability to adapt to new circumstances, information, and challenges with a positive attitude

· Collaborate with internal and external customers; understand the needs and goals of a customer and actively look for ways to meet them

· Proficiency in MS Office with strong Excel skills (Pivot Tables, VLOOKUP, Macros) and experience in working with Oracle ERP ledgers are a big plus but, not required

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What We Offer

AmTrust Financial Services offers a competitive compensation package and excellent career advancement opportunities. Our benefits include: Medical & Dental Plans, Life Insurance, including eligible spouses & children, Health Care Flexible Spending, Dependent Care, 401k Savings Plans, Paid Time Off.

AmTrust strives to create a diverse and inclusive culture where thoughts and ideas of all employees are appreciated and respected. This concept encompasses but is not limited to human differences with regard to race, ethnicity, gender, sexual orientation, culture, religion or disabilities.

AmTrust values excellence and recognizes that by embracing the diverse backgrounds, skills, and perspectives of its workforce, it will sustain a competitive advantage and remain an employer of choice. Diversity is a business imperative, enabling us to attract, retain and develop the best talent available. We see diversity as more than just policies and practices. It is an integral part of who we are as a company, how we operate and how we see our future.