Assistant Director - Reinsurance Accounting

The Assistant Director, Reinsurance Accounting, is a key member of AIG’s Reinsurance Controllership team ensuring accurate accounting, robust internal controls and timely financial reporting for AIG’s global Commercial and Personal insurance businesses.  Reporting to the Director, Reinsurance Reporting, this role is primarily responsible for the financial and operational controlling activities associated with reinsurance reporting, including oversight of management reporting, analysis of reinsurance impact on underwriting results, reporting of reinsurer balances on Schedule F, as well as extensive regulatory financial reporting delivery for AIG’s U.S. insurance companies on a quarterly and annual basis.  Given the breadth of scope, this role is structured with three direct reports and an extensive offshore platform.

The Assistant Director’s role requires coordination with leaders across disciplines who materially contribute to the close, including the Reinsurance Collections, Legal, Treasury, Finance Operations, Actuarial and Actuarial Controllership and Statutory Controllership, and so provides outstanding exposure to leaders and subject matter experts throughout AIG’s Finance function.

Success in this role will require a strong and well-balanced combination of re/insurance technical knowledge, operational savvy with an ability to efficiently leverage all levels of available resources, understanding the groupwide context of legal entity results, organizational dexterity with capability to build relationships and exert influence across disciplines, and comfort leading in a dynamic and transformational environment. 

Key Responsibilities:

• Lead the financial and operational accounting for SEC reinsurance reporting, including all reinsurance disclosures within AIG’s external SEC and statutory reporting
• Partner with Capital Management leaders and staff to evaluate ensure complexities of and changes in internal reinsurance are fully understood by the team and operationalized appropriately
• Lead the collateral management for and associated reporting to third party reinsurers, which includes regular assessment of collateral needs from reinsurers, coordinating with Collections, Capital Management and Legal to secure needed collateral from third party reinsurers; develop pro formas / estimates of potential collateral shortfalls and evaluate implications for year-end financial reporting
• Deliver the full suite of Reinsurance regulatory reporting under Schedule F for all U.S. insurance companies, as well as financial statement disclosures
• Ensure timely identification and responsiveness to accounting for less structured or predictable transactions, including cash calls on internal reinsurance, recording and applying cash on retrospectively rated reinsurance contracts, etc.
• Own internal reinsurance intercompany general ledger accounts globally, working with local controllership teams to identify and resolve any breaks or other issued emerging in the monthly/quarterly financial close
• Support the audit process with external and internal auditors

Qualifications:

• Bachelor’s degree in accounting required, CPA preferred
• Minimum of 8 years of relevant professional experience, particularly leading teams in a controller capacity for a public P&C insurance company
• Advanced knowledge of reinsurance operations, including underwriting, claims, accounting, finance and associated process, controls and systems; re/insurance-relevant professional designation a plus (ARe, CPCU, etc.)
• Strong insurance-technical accounting expertise, including U.S. statutory requirements relevant to reinsurance reporting (Schedule F), possessing a comprehensive understanding of inter-relationships between balance sheet and income statement, with an ability to analyze results accordingly
• Industry business acumen along with a clear understanding and awareness of global macroeconomic and other relevant factors impacting the business that manifest in financial results
• Experienced in leveraging a combination of onshore and offshore management and staff resources on a global basis, maximizing the benefits of time zone differences to enhance productivity
• Strong interpersonal skills and an ability to communicate and collaborate effectively with individuals across Finance and operational disciplines towards a common purpose; commercially oriented, carrying credibility with a business unit and broader Finance organization
• Systems-technical acumen, able to quickly grasp management reporting structures, understand a newly transformed finance architecture and financial reporting platform, and determine how to extract maximum value in execution of the financial close
• Strong attention to detail, where accuracy and precision are critical to success, yet possessing an ability to step back and appreciate broader objectives around effective communication and the inter-relationship across finance and operations teams
• Able to operate successfully and thrive in a dynamic, transformational environment, where change is embraced and viewed as an opportunity for one’s own professional development and to drive process improvement for the team and broader organization

For positions based in New York, the base salary range is $162,000-$203,000. For positions based in New Jersey, the base salary range is $158,000-$198,000. The position is eligible for a bonus in accordance with the terms of the applicable incentive plan. Your actual compensation will be dependent on your skills, experience, and qualifications. In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits

At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.

Enjoy benefits that take care of what matters

At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

Welcome to a culture of inclusion

We’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The talent of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.

AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities.  If you believe you need a reasonable accommodation, please send an email to [email protected].  

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