Reinsurance Accountant - Ceded Operations

Job Title: Reinsurance Accounting - Ceded Operations

Location: London (Hybrid Working, 3 days in office)

Role Purpose:

Supports Aspen's global Ceded Operations business by ensuring an effective and efficient Ceded Accounting function. Supports the VP - Ceded Accounting in the management of the Ceded Accounting function by demonstrating collaboration, awareness and understanding of the various teams across Aspen involved in the ceded reinsurance process, including Underwriting, Finance, Actuarial, Claims, Legal, and others as appropriate to deliver on critical ceded reinsurance accounting activities.

Our Aspen values are expected to be reflected in the delivery and performance of every role.

Key Responsibilities:

Strategy and Planning:

• Contributes to, monitors and advises on the plan developments and changes to ensure relevancy, compliance and optimal delivery.
• Assists in the preparation and implementation of the operational team plans to ensure these are in line with wider business strategy and reflect key priorities.
• Liaises with manager to clarify work priorities and activities in line with agreed plans to ensure the achievement of the function's objectives.

Policy, Process and Procedures:

• Compliant with external and internal regulatory and statutory policies, procedures and regulations, including the Aspen Code of Business Conduct and Ethics.
• Understanding of relevant accounting regulations (ie. FASB, SAP, etc) to ensure team compliance.
• Ensure company, market and client related documentation is issued (internally and externally) accurately and on time where applicable.

Environmental Awareness/Customer Focus:

• Support manager by responding to all internal and external in a timely, accurate manner as required.
• Liaise with relevant and associated areas and groups within the business process to establish, support and maintain business relationships and organizational effectiveness and ensure the timely and accurate reporting of ceded financials.

Technical Performance:

• Support manager in the oversight of the Ceded Accounting team by becoming a Subject Matter Expert (SME) for assigned close activities.
• Review and interpret financial components of reinsurance treaties to ensure accuracy of ceded financials recorded in Aspen's ledger.
• Involvement in monthly/quarterly US, UK (incl Lloyds), and Bermuda regulatory reporting.
• Review and/or prepare general ledger journal entries for GAAP & STAT.
• Assist in maintaining compliance of internal controls and adherence to documented accounting policies and procedures.
• Review relevant accounting regulations (ie. FASB, SAP, etc.) and assess our compliance.

People Management:

• Operate as an effective team member by supporting colleagues and contributing to the delivery and achievement of overall team and business objectives.
• Actively participate and contribute in team meetings and team deliverables, supporting and working collaboratively with colleagues.

Requirements & Skills:

• Bachelor's degree in Accounting or Finance (ACCA/ACA/CA designation would be desirable)
• 2+ years related experience in Ceded Accounting / Outwards Reinsurance
• Property and Casualty insurance industry experience required
• Technical expertise and knowledge in relation to legal and regulatory requirements (including specific reference to e.g. GAAP, FCA / Lloyds regulation, STAT).
• Working knowledge of best practice accounting and regional accounting standards.
• Knowledge of the market the company operates in and London Market
• Advanced working knowledge of MS Excel.
• Alteryx, Power Query, and SQL experience a plus.
• Procede System knowledge a plus.
• Reinsurance Collateral management experience a plus
• Ability to work independently with minimum supervision
• Excellent analytical, problem solving, customer service, oral and written communication skills.

About us:

Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully-tailored solutions. We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism.

Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded.

We are committed to creating an inclusive recruitment experience. If you have a disability or long-term health condition and require adjustments to the recruitment process, our Adjustment Concierge Service is here to support you. Please reach out to us at [email protected] to discuss further.