Director – Reinsurance Accounting

About the role:

This role is primarily responsible for leading the Internal Assumed, Captive, and Aviation segment of AIG’s  Reinsurance Controllership. These teams are responsible for core operational and financial controlling activities, including the processing and financial reporting of technical ceded/assumed accounts. Functions include but not limited to: Premium and Loss Calculations, Statement and proof of loss rendering, Intercompany Reconciliations, Quarterly analytics, GL/SL reconciliation support, Cash settlements, and Schedule F support. The position oversees a global, cross-functional team of 13 staff, along with 20+ resources offshore.  The Assistant Controller will engage with Finance, Actuarial and Controllership leaders on a global basis.

Responsibilities:

• Financial Reporting (GAAP/STAT, 10Q/K, Schedule F, etc.)

• Responsible for key reinsurance finance processes and associated controls

• These teams are responsible for all financial reporting, accounting, and reconciliations for all reinsurance activity, inclusive of Schedule F part 1 (full ownership), and Part 3 (specific ownership)

• Provide analytical analysis on quarterly P&L activity and balances as of reporting date on a GAAP and STAT basis for reinsurance activity

• Intercompany reconciliations supporting consolidation of AIG financial statements and SOX compliance for statutory reporting

• Manage operationalization of accounting/reporting for a global internal reinsurance program, including associated financial bookings, including premium and loss calculations

• Manages team handling cash settlements, statement and invoice preparation

• Participation in several committees for coordination and communication across multiple teams. 

• Participation and support of key strategic initiatives including transformation activities under AIG Next 

• Work closely with financial controls unit, internal and external audit on reinsurance

• Partner closely local international controllership teams to facilitate implementation of internal reinsurance

• Provide expertise to various internal and external stakeholders through participation in various steering committees

• Prioritize and address various broad and individual projects, process improvements and transformation activities as they arise

• Provide guidance and recommendations as respects reviewing optimal options and solutions to new and existing issues as they arise by leveraging knowledge of existing constraints

• Position has high visibility at department senior management level and interacts with various levels of internal and external individuals and organizations

• Expected to create alignment through thought leadership, critical thinking, direction/context setting and stakeholder communications.

Qualifications:

• Advanced knowledge of Property & Casualty reinsurance including underwriting, claims, accounting, finance, and associated process, controls, and systems.

• 10+ years of experience managing reinsurance operations and finance on a global basis

• Advanced working knowledge of relevant trends and information within the industry

• Advanced knowledge of accounting principles and practices, the insurance/reinsurance markets, and the analysis and reporting of financial data

• Advanced working knowledge of business and management principles involves in strategic planning, resource allocation, leadership technique, and coordination of people and resources

• Technical and/or analytic expertise that can be adapted to current technologies

• Strong technical skills in Microsoft Excel, Access, PowerPoint, and Word

• Strong verbal and written communication skills with significant experience interacting with senior management and external stakeholders

• Strong negotiation, analytical, decision making, problem resolution and organization skills

For positions based in New Jersey, the base salary range is $175,000-$205,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. 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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