Reinsurance Accountant

Join a dynamic Bermuda Class 3A insurer as our Reinsurance Accountant, where you’ll play a key role in managing all aspects of reinsurance accounting. This position offers the opportunity to work in a collaborative, fast-paced environment while ensuring the company’s financial integrity and regulatory compliance.

You’ll be responsible for overseeing reinsurance accounting processes, maintaining full compliance with Bermuda Monetary Authority (BMA) regulations, and upholding internal control standards. In this role, you’ll also manage relationships with third-party service providers and vendors, driving accuracy in reporting, operational efficiency, and seamless regulatory adherence.

If you’re detail-oriented, proactive, and eager to make an impact in the reinsurance industry, we’d love to hear from you.

Reinsurance Accounting

• Manage and reconcile assumed and ceded reinsurance treaties, including commutations and loss portfolio transfers
• Prepare quarterly and annual financial statements in accordance with US GAAP and Bermuda statutory requirements
• Maintain precise and timely records of premiums, claims, and cash allocations
• Support the integration of acquired books of business and onboarding of new treaties
• Develop technical accounting memoranda and provide key support during external audits

Compliance & Regulatory Reporting

• Ensure timely and accurate submission of BSCR filings and all other Bermuda Monetary Authority (BMA) regulatory returns
• Monitor compliance with the Insurance Act 1978 and associated prudential standards
• Assist with stress and scenario testing in accordance with BMA requirements
• Maintain thorough documentation of internal controls and risk management policies
• Partner with compliance officers to ensure AML/ATF and other regulatory obligations are fully met

Vendor & Third-Party Management

• Supervise and review deliverables from third-party service providers, including claims handlers, brokers, and TPAs
• Define performance metrics, conduct regular vendor reviews, and ensure adherence to service standards
• Coordinate with vendors to drive timely claims processing and ensure data integrity
• Negotiate and manage service-level agreements, ensuring contractual compliance
• Serve as the primary point of contact for finance-related vendor issues and escalations

Cross-Functional Collaboration

• Partner closely with underwriting, actuarial, legal, and compliance teams to support business objectives
• Contribute to system enhancements and testing initiatives related to finance and reinsurance operations
• Provide analytical support to senior management on portfolio performance, reinsurance strategy, and operational improvements

Qualifications & Experience:

• Professional accounting designation (CPA, CA, ACCA)
• Minimum 3 years of experience in reinsurance accounting, preferably within Bermuda Class 3A or similar regulatory environments
• Strong understanding of US GAAP and Bermuda regulatory frameworks
• Experience managing vendors or third-party service providers
• Proficiency in Excel and financial systems (e.g., SAP, Workday, or similar)

This position is Hybrid, 3-4 days in Hamilton Office

This position requires you to reside in Bermuda

Compensation

TBD