EY- Assurance – Senior/Assistant Manager- Reinsurance accounting and reporting

As part of our EY-Assurance Team, the Senior/Assistant Manager will be responsible for working closely with FAAS managers and Senior Managers on clients and engagements across Americas to assist with reinsurance accounting and reporting.

The opportunity

We’re looking for incumbents who is responsible for responsible for overseeing day-to-day production activities in reinsurance accounting, ensuring accurate processing of ceded and assumed transactions, compliance with EY standards, and timely delivery of financial outputs. This role emphasizes operational excellence, process efficiency, and collaboration across finance and business teams.

Your key responsibilities

• Production Oversight: • Manage end-to-end processing of ceded and assumed premiums, fees and administrative charges, commissions, losses, and IBNR results within the reinsurance system.
• Treaty Analysis & Reporting: Review and analyse reinsurance treaties to provide material inputs for accounting and reporting. Support in preparation of closing statements for Day 1 activities.
• Transaction Accuracy: Ensure accurate accounting for premiums, claims, commissions, and reserves in compliance with GAAP/STAT standards and company policies.
• Payment Processing: Execute reinsurance settlements and payments in line with treaty terms and internal controls, establish Day 1 and periodic settlement processes, and ensure timely communication, approval, and wiring of settlements, including accurate accounting for interest on delayed payments
• Data Consolidation: Consolidate financial data from multiple sources to ensure accuracy and completeness for internal and external reporting
• Financial Reporting: Prepare and review quarterly and annual financial statements for all reinsurance transactions, ensuring reports include detailed analysis of premiums, claims, commissions, reserves, and collateral positions, and provide variance analysis, trend insights, and commentary to support management decision-making.
• Regulatory Compliance: Assist with statutory filings and regulatory reporting, including preparation of Reinsurance Schedules and foot notes while ensuring full compliance with STAT standards and company policies
• Cross-Functional Collaboration: Partner with underwriting, claims, actuarial, and other finance teams to ensure accurate and timely flow of reinsurance data.
• Collateral Management: Review and manage collateral arrangements for reinsurance contracts, ensuring compliance with treaty terms and company guidelines.
• Management Goal: Support initiatives such as team training, campaign execution, and solution development to enhance departmental capabilities.
• SOX Control Testing: Conduct periodic testing of ceded policy data for accuracy and completeness, and develop RACI charts, RCM documentation and control matrices for new reinsurance deals to ensure robust internal controls.
• •Process Documentation: Assistance in development of internal documents, processes, controls, SOPs, flow charts, checklists, etc. to ensure training and support smooth processing of transactions.
• Automation Opportunities & Solution Design: Identify scope for automation of activities and suggest tools and solutions
• Client Service Excellence: Deliver high-quality client service by managing daily project activities, addressing requests promptly, and maintaining strong client relationships.
• Application of Accounting Standards & Firm Policies: Demonstrate a good understanding of accounting concepts; stay informed of professional standards and firm policies (e.g., guidelines of the EY FAAS Policy Manual); and effectively apply this knowledge to moderately difficult and/or complex client situation

Skills and attributes for success

• Strong knowledge of reinsurance, type of reinsurance treaty, Deposit accounting, GAAP reporting requirements, STAT reporting requirements, Types of reinsurance arrangements, Reinsurance activities, settlement process knowledge.
• Understanding of reinsurance accounting, loss reserves, premiums, and operational expenses according to statutory requirements.
• Sox Control: Good understanding on DTP, RACI, Control matrix, Process flow, Process narrative and flow charts
• Ability to work in a deadline-driven environment, manage regulatory compliance, and maintain high accuracy.
• Experience with accounting ERP software (e.g., SAP, Oracle) and reporting systems (e.g., GAIN, Wings, Cognos, Stargate & T1) will be advantageous.
• The ability to work independently in a fast-paced, dynamic team-oriented environment.
• Strong communication skills for collaboration with management, auditors, regulators, and internal stakeholders
• Analytical skills to interpret complex financial data and prepare detailed financial and regulatory reports.
• Ability and comfort level in researching client inquires and emerging issues, including regulations, industry practices and new technologies

To qualify for the role, you must have

• CA, ACCA (UK), CPA, MBA or other relevant qualification
• 3- 6 years relevant experience in Reinsurance Accounting and Reporting.

Ideally, you’ll also have

• Proficiency in MS – Excel, MS – Office.
• Knowledge on any Data analytics/visualisation tools will be additional advantage.
• Flexibility and willingness to travel on short notice, as necessary
• Good communication, Interpersonal, Analytical Skills & highly proactive in approach