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Senior Accountant, GBS Reinsurance

New York Life Insurance

New York Life Insurance

Accounting & Finance
Philadelphia, PA, USA
Posted on Thursday, January 25, 2024

Location Designation: Hybrid - 3 days per week

When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

This position primarily involves a hybrid work schedule - working remotely: Monday & Friday / on site: Tuesday, Wednesday and Thursday.

GBS Reinsurance - Senior Accountant

Role Summary:

Partner with the GBS Accounting, Reserving and Claims teams to determine ceded and assumed activity related to the various internal and external reinsurance agreements. Assist with the completion and review of schedules, exhibits and disclosures included in Statutory and Audited financial statements. Interface with the Corporate Financial Control Unit and external auditors to enable efficient testing and help ensure controls are operating as intended for reinsurance activity. This position will need to gain a working knowledge of the relevant products, business processes and agreement terms in order to accurately report and administer.

Prepare the quarterly reporting and settlement of assumed and ceded activity with brokers and reinsurance partners, including ceded claim support. Help ensure that trust and letter of credit balances are appropriate and maintain evidence. Responsible for the administration of internal reinsurance agreements.

Responsibilities:

  • Calculate and record monthly assumed and ceded activity
  • External reinsurance exhibits and disclosures
  • Reinsurance controls and audit support
  • Reporting to reinsurance broker and partners
  • Settlement of ceded and assumed activity
  • Maintenance and reporting of trust and letter of credit balances

Qualifications:

  • Bachelor's degree preferred
  • Strong and independent contributor
  • Strong knowledge of accounting systems and concepts
  • Strong written and verbal communication skills
  • Strong presentation skills, and ability to communicate effectively with all levels
  • Builds strong matrix partner relationships
  • Ability to identify, document and continually improve processes, workflows and tools/technology
  • Ability to quickly learn and adapt to fast paced and ever changing marketplace
  • Accounting or Finance bachelor’s degree and/or 5+ years related experience required

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Salary range: $90,000-$135,000

Overtime eligible: Exempt

Discretionary bonus eligible: Yes

Sales bonus eligible: No

Click here to learn more about our benefits. Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

Job Requisition ID: 89945