Reinsurance Accountant

The Platinum Group Ltd. [“PG”] has a rapidly growing Secondee Division (temporary assignments) that is currently seeking talented individuals to join our dynamic team.

The Platinum Group Ltd. [“PG”] has a rapidly growing Secondee Division (temporary assignments) that is currently seeking talented individuals to join our dynamic team.  Being part of the PG secondee team offers great exposure to different companies, industries and opportunities that will strengthen your resume and expand your knowledge. We work with top companies in Bermuda that may be looking to hire full time. We offer a great work-life balance, opportunities to work directly in industry and provide a competitive compensation package.

Key Responsibilities Include:

• Perform all aspects of reinsurance accounting, including administration of claim settlements, loss reporting and reserving with actuaries, brokers and claim handlers;
• Supervision and review of work performed by third-party service providers;
• Assist with the preparation of U.S. GAAP financial statements and statutory returns for the Bermuda entities;
• Assist with the integration of Loss Portfolio Transfers and acquired books of business;
• Assist with accounting and reporting of assumed and ceded treaties, including commutations for quarterly reporting;
• Provide claims and reserve data to the actuarial team for the quarter-end close process;
• Independent analysis and solving of complex reinsurance accounting issues;
• Preparation of technical accounting memos to support the reinsurance accounting under U.S. GAAP;
• Provide portfolio management support to senior management, including preparation of detailed performance analyses of portfolios;
• Submit claims notices and supporting documentation to the appropriate manager for approval in line with the Company claims approval process and authority limits;
• Coordinate the quarterly loss reporting process with claims managers, actuaries, brokers and claims handlers;
• Evaluate reinsurance claims notices to ensure that the submissions are in line with the terms and conditions of the contracts;
• Research of accounting literature to resolve GAAP queries and keeping abreast of developments and trends within the industry; and
• Performing any related duties that may arise.

Candidate Profile:

• CA, CPA, ACA or equivalent internationally recognised accounting qualification;
• A minimum of three years post-qualifying work experience which should be in the insurance or reinsurance industry or with an accounting firm with significant reinsurance experience;
• Strong technical and practical knowledge of U.S. GAAP, especially in relation to reinsurance accounting;
• Solid understanding of accounting for reinsurance transactions including loss portfolio transfers;
• Advanced Excel spreadsheet skills;
• Excellent written and verbal communication skills as well as strong interpersonal skills;
• Strong organizational and analytical skills;
• An eye for detail and ability to prioritize and manage a range of tasks; and
• Willingness to work evenings and weekends, as needed.