W. R. Berkley Corporation
Manager, Ceded Reinsurance Finance
W. R. Berkley Corporation, Urbandale, Iowa, United States, 50322
Overview
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Manager, Ceded Reinsurance Finance
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W. R. Berkley Corporation . 1 week ago Be among the first 25 applicants Get AI-powered advice on this job and more exclusive features. 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 in ceded reinsurance operations, with at least 1 to 2 years in a leadership or supervisory role. 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 CFOs, 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
Bachelor’s degree in finance or accounting is preferred. Master’s in computer science or insurance certification a plus. Company Details
Today the Berkley brand comprises more than 50 businesses worldwide and is divided into two segments: Insurance and Reinsurance and Monoline Excess. Led by our Executive Chairman, founder and largest shareholder, William. R. Berkley and our President and Chief Executive Officer, W. Robert Berkley, Jr., W.R. Berkley Corporation is well-positioned to respond to opportunities for future growth. Seniority level
Mid-Senior level Employment type
Full-time Job function
Finance Industries
Financial Services Insurance Des Moines, IA $99,500.00-$189,600.00 2 weeks ago We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.
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Join to apply for the
Manager, Ceded Reinsurance Finance
role at
W. R. Berkley Corporation . 1 week ago Be among the first 25 applicants Get AI-powered advice on this job and more exclusive features. 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 in ceded reinsurance operations, with at least 1 to 2 years in a leadership or supervisory role. 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 CFOs, 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
Bachelor’s degree in finance or accounting is preferred. Master’s in computer science or insurance certification a plus. Company Details
Today the Berkley brand comprises more than 50 businesses worldwide and is divided into two segments: Insurance and Reinsurance and Monoline Excess. Led by our Executive Chairman, founder and largest shareholder, William. R. Berkley and our President and Chief Executive Officer, W. Robert Berkley, Jr., W.R. Berkley Corporation is well-positioned to respond to opportunities for future growth. Seniority level
Mid-Senior level Employment type
Full-time Job function
Finance Industries
Financial Services Insurance Des Moines, IA $99,500.00-$189,600.00 2 weeks ago We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.
#J-18808-Ljbffr