Reinsurance Accountant

Odyssey Reinsurance Company (OdysseyRe) is the global reinsurance arm of Odyssey Group, one of the world’s leading providers of reinsurance and specialty insurance. OdysseyRe offers a broad range of property, casualty, and specialty reinsurance products, providing capital and risk management solutions for clients to efficiently manage economic risk through a network of branch and representative offices across North America, Latin America, EMEA (Europe, Middle East & Africa), AsiaPacific and London.

OdysseyRe is an equal opportunity employer with excellent benefits and a strong commitment to providing training and opportunities for our staff. We provide employees an innovative, enriching environment and take great pride in their career growth.

OdysseyRe is rated A+ (Superior) by AM Best and A+ (Strong) by Standard and Poor’s. Odyssey Group is a subsidiary of Fairfax Financial Holdings Limited, which is traded on the Toronto Stock Exchange under the symbol FFH.

Position Summary: 

The Reinsurance Accountant is responsible for performing all aspects of Treaty accounting for assigned treaties including account analysis, entry into reinsurance system and cash settlement.

Essential Duties:

• Ensure that all assigned accounts due from brokers and ceding companies are received and processed timely after analysis and review
• Review premium and loss bordereaux to ensure compliance with treaty terms and to identify catastrophe or large loss activity
• Follow up on settlement of overdue accounts, adjustments and settlement of account balances
• Ensure that all statistical account information is allocated properly in the Phoenix system based on treaty terms
• Exercise discretion and independent judgment with respect to matters of significance
• Research, reconcile and resolve account discrepancies
• Review and interpret treaty contract wordings
• Keep management and underwriter informed of unusual or significant activity in a treaty
• Review and apply cash receipts and disbursements on assigned accounts. Monitor cash suspense and explain reasons for unapplied
• Maintain electronic accounting files for assigned accounts
• Prepare disbursement requests for account balances and cash calls. Obtain appropriate approvals for payments when necessary.
• Communicate with broker regarding account issues
• Provide support to management and teammates in regard to specific account issues
• Follow department’s established accounting procedures
• Assist in closing process as needed
• Maintain confidentiality of company-sensitive data

Job Requirements:

• Proficient in Excel
• Able to analyze data, resolve problems and make decisions
• Must successfully interact with other members of the Accounting staff and all other departments in the company
• Possess solid planning and organizational skills, verbal and written communication skills, reconciliation skills and supervisory skills
• Experience in treaty reinsurance accounting and exposure to all facets of reinsurance accounting including the ability to interpret contract agreements preferred

 Education and Experience: 

• Bachelor’s degree in finance/accounting preferred or equivalent work experience
• Minimum 3+ years of previous experience in accounting, finance, or reinsurance accounting. Extensive understanding of reinsurance accounting concepts or techniques. 

This role offer a hybrid work schedule. 

#LI-Hybrid 

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