W.R. Berkley
Manager, Ceded Reinsurance Finance
W.R. Berkley, Old Greenwich, Connecticut, United States, 06870
Manager Of Ceded Reinsurance Operations
The Manager of Ceded Reinsurance Operations is responsible for overseeing the end-to-end operational and accounting processes related to the company's ceded reinsurance portfolio. This role ensures the integrity of financial data, supports strategic reinsurance initiatives, and leads a team of professionals in executing accurate and timely processing of reinsurance transactions. The ideal candidate will bring deep technical knowledge of ceded reinsurance, strong leadership capabilities, and a continuous improvement mindset. Responsibilities: Maintain and enhance the ceded reinsurance source system, ensuring data integrity and alignment with general ledger and sub-ledger systems. Lead and support the Data Warehouse team in developing out ceded reinsurance solutions. Provide recommendations on upstream data fixes on a case-by-case basis for operating units to review, approve and implement. Review, understand and interpret complex reinsurance treaties, converting them into application specifications and contracts. Monitor treaty compliance and ensure adherence to contractual terms and regulatory requirements. Assist in transformation, change project and implementation. Partner with IT and Finance to implement system upgrades, automation tools, and reporting enhancements. Develop and maintain documentation for operational processes, controls, and system workflows. Book and close Ceded Reinsurance Source System accounting, execution of contracts, processing of invoices, and recovery of reinsured losses. Process months end close for multiple business units in source system and general ledger. Involves strong collaboration with divisional and subsidiary personnel, IT teams and offshore teams. Ensure accurate and timely recording of ceded premiums, losses, and recoverable. Oversee cash application and reconciliation of reinsurance recoverable and payables. Understanding of Ceded Group Reinsurance Contract treaties and their allocations. Assist in the calculation of adjustable features, including contingent and sliding scale commissions, on reinsurance programs. Verify that adjustments comply with the reinsurance contracts. Assist in inquiries from Corporate Finance, actuarial, underwriting and Insurance Risk Management (IRM) team. Communicate and training of the offshore team and ensuring quality and accuracy of deliverables. Assist and review in preparation of regulatory reports, experience in Sch F, P, Broker billing and invoicing and Collateral process. Support ad hoc activities/projects. Qualifications: Minimum 5 years of experience, with at least 1-2 years in a leadership or supervisory role. Ceded reinsurance experience is a plus. Industry knowledge- strong understanding of reinsurance accounting concepts and ability to understand and interpret reinsurance contracts. Deep understanding of reinsurance structures (quota share, excess of loss, facultative, etc.). Communication skills- effective communication skills for addressing issues with subsidiary CFO's, controllers, other accounting personnel and reinsurance department personnel. Advanced Excel skills, experience with Reinsurance Source Systems, PeopleSoft a plus. Exposure to automation tools (e.g., Power BI, RPA) is a plus. Highly motivated team player with good written and verbal communication skills. Education Requirement: Bachelor's degree in finance or accounting is preferred. Master's in computer science or insurance certification a plus. This position will be on-site 5 days a week, in our Greenwich, CT office.
The Manager of Ceded Reinsurance Operations is responsible for overseeing the end-to-end operational and accounting processes related to the company's ceded reinsurance portfolio. This role ensures the integrity of financial data, supports strategic reinsurance initiatives, and leads a team of professionals in executing accurate and timely processing of reinsurance transactions. The ideal candidate will bring deep technical knowledge of ceded reinsurance, strong leadership capabilities, and a continuous improvement mindset. Responsibilities: Maintain and enhance the ceded reinsurance source system, ensuring data integrity and alignment with general ledger and sub-ledger systems. Lead and support the Data Warehouse team in developing out ceded reinsurance solutions. Provide recommendations on upstream data fixes on a case-by-case basis for operating units to review, approve and implement. Review, understand and interpret complex reinsurance treaties, converting them into application specifications and contracts. Monitor treaty compliance and ensure adherence to contractual terms and regulatory requirements. Assist in transformation, change project and implementation. Partner with IT and Finance to implement system upgrades, automation tools, and reporting enhancements. Develop and maintain documentation for operational processes, controls, and system workflows. Book and close Ceded Reinsurance Source System accounting, execution of contracts, processing of invoices, and recovery of reinsured losses. Process months end close for multiple business units in source system and general ledger. Involves strong collaboration with divisional and subsidiary personnel, IT teams and offshore teams. Ensure accurate and timely recording of ceded premiums, losses, and recoverable. Oversee cash application and reconciliation of reinsurance recoverable and payables. Understanding of Ceded Group Reinsurance Contract treaties and their allocations. Assist in the calculation of adjustable features, including contingent and sliding scale commissions, on reinsurance programs. Verify that adjustments comply with the reinsurance contracts. Assist in inquiries from Corporate Finance, actuarial, underwriting and Insurance Risk Management (IRM) team. Communicate and training of the offshore team and ensuring quality and accuracy of deliverables. Assist and review in preparation of regulatory reports, experience in Sch F, P, Broker billing and invoicing and Collateral process. Support ad hoc activities/projects. Qualifications: Minimum 5 years of experience, with at least 1-2 years in a leadership or supervisory role. Ceded reinsurance experience is a plus. Industry knowledge- strong understanding of reinsurance accounting concepts and ability to understand and interpret reinsurance contracts. Deep understanding of reinsurance structures (quota share, excess of loss, facultative, etc.). Communication skills- effective communication skills for addressing issues with subsidiary CFO's, controllers, other accounting personnel and reinsurance department personnel. Advanced Excel skills, experience with Reinsurance Source Systems, PeopleSoft a plus. Exposure to automation tools (e.g., Power BI, RPA) is a plus. Highly motivated team player with good written and verbal communication skills. Education Requirement: Bachelor's degree in finance or accounting is preferred. Master's in computer science or insurance certification a plus. This position will be on-site 5 days a week, in our Greenwich, CT office.