Reinsurance Accountant en Bankers Insurance Group

Founded in 1976, Bankers Insurance Group has grown from a small local company to a diverse corporation known for its innovative insurance products and superior customer service. Bankers Insurance offers a variety of property and casualty products and services. Among the company’s products are business owners, builder’s risk, personal and commercial flood, as well as specialized coverages. Insurance and financial services remain at the core of our business, and we're proud of our more than 45+ year track record of expertise and service. We recognize the changes taking place in our domestic and global economy, as well as our society. We strive to respond to those changes with a spirit of understanding, growth, innovation, and entrepreneurship, developing new products, services, and partnerships.       

Our Core Values

• Collaboration: Working together is critical to achieving organizational goals.

• Innovation: Growth happens when we embrace and implement new ideas that deliver unique solutions and superior customer service.

• Performance: We provide our employees with the tools and support they need to grow, succeed, and make an impact.

• Social Responsibility: Charity and volunteer work are central to who we are.

• Trust: We build and maintain trust with employees and clients through integrity, transparency, and always doing the right thing.

All employees are expected to demonstrate the following in the performance of their duties:

• Acting with the highest levels of honesty, character, and transparency

• Making a unified effort to achieve organizational goals and embracing accountability for exceptional performance every day

• Committing to excellence, reaching our full potential as individuals and as an organization

• Approaching every challenge with creativity, delivering compelling value to our customers

• Believing in the power of a diverse workforce and making a positive impact on our environment and community

Position Summary

We are seeking an experienced and detail-oriented Reinsurance Accountant to support all aspects of our reinsurance accounting and reporting processes. This role is ideal for a well-rounded accountant with a solid foundation in general accounting and at least two years of experience working with reinsurance or insurance financials. The position offers the opportunity to apply core accounting skills in a specialized area while continuing to develop expertise in reinsurance and statutory reporting.

Key Responsibilities

• Prepare and post monthly reinsurance premium and loss journal entries.
• Prepare and process reinsurance settlements under Catastrophe, Excess of Loss and Quota Share reinsurance agreements.
• Perform monthly reinsurance account reconciliations and ensure balances are accurate and properly supported.
• Record daily reinsurance cash receipt journal entries and maintain detailed reconciliation schedules.
• Communicate with reinsurers and brokers to address questions, reconcile differences and provide supporting documentation as needed.
• Review reinsurance contracts and assist in ensuring proper accounting treatment and reporting.
• Secure collateral as required for year-end Schedule F reporting.
• Prepare reinsurance schedules for the annual and quarterly statutory financial statements (specifically Schedule F).
• Support audits, examinations, and internal control related to reinsurance accounting.
• Coordinate with Claims, Underwriting and Actuarial departments to ensure consistency in reinsurance data companywide.
• Assist in streamlining reinsurance accounting processes and improve reporting efficiency.

 Qualifications

• Bachelor’s degree in Accounting, Finance, or a related field.
• Minimum 5 years of accounting experience, with at least 2 years in reinsurance or insurance accounting.
• Strong understanding of generally accepted accounting principles (GAAP) and exposure to statutory accounting principles (SAP) preferred.
• Ability to analyze complex data and reconcile detailed account balances.
• Proficiency with Microsoft Excel and general ledger systems.
• Excellent attention to detail, communication and organizational skills.
• Demonstrated ability to manage multiple priorities and meet deadlines.

 Preferred Skills

• Experience with Schedule F reporting and reinsurance collateral management.
• Familiarity with reinsurance reporting processes.
• Prior experience in the property & casualty insurance industry strongly desired.

 Why Join Us

This is an opportunity to leverage your accounting expertise in a specialized and growing area of the insurance industry. You’ll join a collaborative team that values accuracy, professional growth, and continuous improvement in a supportive environment.