Arch

Accountant

Entity Arch Insurance Group Inc (U.S.)
Job Locations US-NJ-Jersey City
Job ID
2019-2520
Business Segment
Insurance
# of Openings
1
Category
Finance

The Position

The Accountant supporting Alternative Markets line of business will work with the Alternative Markets Underwriting team, IT personnel, TPA’s, (where applicable) and Reinsurers on a day to day basis as far as data requested and verification of the data presented by the Underwriting team. The Accountant is responsible for the recording of the Underwriting Results by individual account (Gross and Ceded) and the analysis thereof for profitability. The position also calls for the reconciliation of the General Ledger for all Balance Sheet accounts that pertain to the division. In addition, the Accountant’s position involves the preparation of the ancillary schedules for Annual Statement purposes. They are also involved in the preparation of the Reinsurance Statement for submission to the Reinsurers and the application of cash thereof. The position is also responsible for the calculation of the Funding Requirements at year-end and submission to the Unauthorized Quota Share Reinsurers for collateral purposes.

 

Job Responsibilities

 

  • Communication and Interaction with Underwriting team, IT personnel, TPA’s, (where applicable) and Reinsurers on day to day basis.
  • Preparation and Processing of any Cash Receipts and Disbursements, and the payment and/or recovery of reinsurance.
  • Analysis of various reports that are utilized in the preparation of Financial Statement.
  • Preparation of Underwriting Results on an account level basis, by program year and the ancillary schedules attaching to it.
  • Preparation of the Reinsurance Statement of Account to the Reinsurance Brokers and/or Reinsurers in a timely and accurate manner in accordance with the terms of the Reinsurance Contract.
  • Preparation of Letter of Credit Funding Requirements on a quarterly basis and submission to the Reinsurers.
  • The reconciliation of the General Ledger for all accounts that pertain to Alternative Markets.
  • Completion of Key Assignments/Special Projects that may be assigned from time to time. These tasks should be completed in accordance with the timeframes outlined.

 

Required Skills/Experience

  • Working knowledge of Microsoft Suite (Excel, Word, etc.)
  • Working knowledge of Great Plains General Ledger Software
  • Ability to demonstrate critical thinking and analysis.
  • Has strong interpersonal, communication, and organization skills.
  • The ability to adapt to new circumstances, information, and challenges, with a positive attitude.

Desired Skills/Experience

  • 3 to 5 years’ experience working in Accounting/Finance with emphasis in the insurance/reinsurance industry.

 

 

Education

  • Degree in Accounting/Finance

The Company

Arch Insurance is a global insurer offering our clients superior coverage and service. We embody the Arch guiding principle of focusing on retaining experienced and talented employees to differentiate us from the rest of the pack. Our group operates from offices in the US, Canada, Bermuda, UK, Australia and South Africa, providing specialty risk solutions to clients worldwide across a wide range of industries. With over ten years of operating history and strong financial ratings, our track record remains solid.

 

Arch Insurance employs a disciplined underwriting approach and prudent risk selection across all types of business. Our mission is to provide our insureds with superb coverage and claims handling through careful and diligent underwriting of risks and business-friendly solutions. Across our global operations, Arch Insurance employees are ready to meet your needs with professionalism and excellence.

 

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