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- Tasks: Join our team to analyse and manage complex reinsurance contracts and improve financial outcomes.
- Company: AXA XL is a leading global insurer committed to sustainability and diversity.
- Benefits: Enjoy flexible work options, competitive pay, and opportunities for professional growth.
- Why this job: Be part of a dynamic team that values innovation and makes a real impact in the industry.
- Qualifications: Bachelor's degree in finance or accounting; reinsurance experience preferred.
- Other info: AXA XL promotes an inclusive workplace and prioritises sustainability in all operations.
The predicted salary is between 42000 - 76000 £ per year.
AXA XL is looking for a highly organized and analytical Senior Reinsurance Accountant to join the Ceded Reinsurance Team in London, UK.
Responsibilities include:
- Analyzing and implementation of reinsurance treaty agreements protecting AXA XL group, identifying terms and conditions, analysis of premium/commission/claim registration, and other attachment criteria.
- Managing reinsurance program ensuring that complex reinsurance contracts are correctly interpreted to determine the accurate accounting for it; all entities covered are accounted for in relevant systems.
- Improving AXA XL's net risk/return profile with an emphasis on enhancing shareholder value.
- Reinsurance contract setup in appropriate systems; Ceded Premium booking/billing/payment; Loss recovery calculation; Recoveries collection from reinsurers.
- Working closely with actuarial team for correct reinsurance premium allocation based on global treaty terms.
- Partnering with Ceded Re Buyers and the Business Units to prepare & evaluate ceded premium allocation.
- Managing multi system/manual calculations of global claim aggregation/exhaustion; actuarial allocation to multiple systems of claim recoveries.
- Responsible for month-end, quarter-end and year-end closing processes of the assigned reinsurance program.
- Understanding of NAIC requirements for Schedule F and New York State Department of Financial Services requirements.
- Communicating with external clients regarding contractual agreements accounting/cash flow and managing the company's collateral process.
- Managing daily activity with regards to collateral decreases and withdrawals.
- Developing, recommending, and implementing continuous improvements to processes, reports and technology solutions.
- Training the offshore team.
- Performing monthly data quality/verification process and explaining discrepancies found.
- Acquiring knowledge of the systems used within the company (ProCede, WINS, CH GENIUS, Hartford GENIUS, The Frame, Global Claims System, Documentum).
Required Skills and Abilities:
- Bachelor's Degree in business, finance, accounting or a related area.
- Moderate to extensive reinsurance accounting experience required.
- Experience in Finance and/or Reinsurance industry or equivalent combination of training and experience.
- Knowledge of various forms of reinsurance, specifically XOL contracts as relates to loss application and calculation.
- Understanding of functions pertaining to ceded reinsurance accounting.
- Successful completion of industry professional designations - CPCU, AIAF or ARe preferable.
- Excellent written and oral communications skills.
- Proven efficiency in ability to multitask, with attention to detail.
- Proficient in Microsoft Office (Excel, Word, Access).
- Knowledge of SQL is preferred.
- Excellent research and analytical skills, robust financial reconciliation skills.
- Display excellent customer relation skills, as well as result driven.
Inclusion & Diversity
AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic. We have made a strategic commitment to attract, develop, advance and retain a diverse workforce.
Sustainability
At AXA XL, Sustainability is integral to our business strategy. Our 2023-26 Sustainability strategy focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.
Senior Reinsurance Accountant employer: ACCA Careers
Contact Detail:
ACCA Careers Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Reinsurance Accountant
✨Tip Number 1
Familiarise yourself with the specific reinsurance treaties and contracts that AXA XL uses. Understanding these agreements will not only help you in interviews but also demonstrate your proactive approach and genuine interest in the role.
✨Tip Number 2
Network with professionals in the reinsurance industry, especially those who have experience with AXA XL or similar companies. Engaging in conversations can provide insights into the company culture and expectations, which can be invaluable during the interview process.
✨Tip Number 3
Brush up on your knowledge of NAIC requirements and New York State Department of Financial Services regulations. Being well-versed in these areas will show that you are prepared to handle the compliance aspects of the role effectively.
✨Tip Number 4
Demonstrate your analytical skills by preparing examples of how you've improved processes or solved complex problems in previous roles. This will highlight your ability to contribute to continuous improvements at AXA XL.
We think you need these skills to ace Senior Reinsurance Accountant
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in reinsurance accounting and any specific skills mentioned in the job description, such as knowledge of XOL contracts and proficiency in Microsoft Office.
Craft a Compelling Cover Letter: Write a cover letter that showcases your analytical skills and experience with reinsurance treaty agreements. Mention how your background aligns with AXA XL's commitment to sustainability and diversity.
Highlight Relevant Qualifications: If you have completed any industry professional designations like CPCU, AIAF, or ARe, be sure to mention these prominently in your application. This will demonstrate your commitment to the field.
Showcase Communication Skills: Since excellent written and oral communication skills are essential for this role, consider including examples of how you've effectively communicated complex information in previous positions.
How to prepare for a job interview at ACCA Careers
✨Know Your Reinsurance Basics
Make sure you have a solid understanding of reinsurance concepts, especially XOL contracts. Be prepared to discuss how these apply to loss application and calculation, as this will likely come up during the interview.
✨Demonstrate Analytical Skills
Since the role requires strong analytical abilities, be ready to showcase examples from your past experience where you've successfully analysed complex data or improved processes. This will highlight your fit for the analytical demands of the position.
✨Familiarise Yourself with Relevant Systems
Research the systems mentioned in the job description, such as ProCede and WINS. If you have experience with similar software, be sure to mention it, as familiarity with these tools can set you apart from other candidates.
✨Prepare Questions About Collaboration
The role involves working closely with various teams, including actuarial and Ceded Re Buyers. Prepare thoughtful questions about how collaboration is structured within the company, as this shows your interest in teamwork and understanding of the role's dynamics.
