Junior Reinsurance Accountant
At a glance
Junior Accounting role at Starr. 399 Park Avenue-New York, NY · full-time · $65,000–$95,000 base.
financeroles summary, based on the employer's posting.
What you'll do
- Prepare quarterly account reports for brokers and reinsurance markets
- Process facultative premium activity, including arranging payments and booking ceded premiums with internal teams
- Track incoming cash, allocate it in the relevant systems and control files, then issue payments
- Check data across reinsurance records, the general ledger, financial systems and bank accounts through reconciliations
- Guide processing teams, address account issues and produce reports or support projects as needed
What you bring
- A bachelor's degree and up to five years of relevant insurance or reinsurance accounting experience
- Excel proficiency, along with working knowledge of Microsoft Office
- Strong analytical and troubleshooting ability, careful attention to detail, and clear written and verbal communication
Who this fits
This junior role suits someone who can handle operational reinsurance accounting while guiding processing teams. You'll work with internal and external contacts and may authorize or escalate transactions within the stated authority process.
From the employer
Join Starr, a global leader in commercial insurance with over a century of expertise. We empower our employees to innovate, make impactful decisions, and build lasting client relationships worldwide. At Starr, you'll work in an entrepreneurial culture alongside accessible leaders, leveraging our financial strength and vast industry experience to deliver solutions for our clients, no matter how complex. Grow your career with a rapidly growing company that invests in its people and their ability to drive real progress.
We are seeking a JR Reinsurance Accountant to support our Facultative Premium handling, processing reinsurance accounts, and performing reporting and reconciliation activities. The role will also support the leading/overseeing the work performed by our processing unit/center for the clients/ accounts and/or processes assigned, provide guidance on reinsurance accounting matters as well as authorize and/or escalate financial transactions and/or payments as per authority matrix, escalate issues to management and/or senior management. Handle internal/external client relationships as per assignments and steer processing units/centers to assure achievement of operational and financial targets. Perform Reinsurance Accounting operational duties as needed/required.
Key Responsibilities:
- Produce quarterly reports on the assigned accounts to be rendered to the pertaining brokers and reinsurance markets.
- Support our Facultative premium process and payments.
- Provide guidance to our processing unit/center for the clients/ accounts and/or processes assigned.
- Produce quarterly reports on the assigned accounts to be rendered to the pertaining brokers and reinsurers.
- Follow up on cash collection and disburse payments.
- Register, allocate and apply cash to the respective systems and control files.
- Liaising with Operations, reinsurance services and business units to book and pay ceded facultative reinsurance premiums.
- Assure data integrity performing reconciliations between Reinsurance systems, General Ledger, financial systems and bank accounts.
- Participate in projects/initiatives.
- Run ad-hoc reports as needed.
Qualifications:
- Strong analytical, problem-solving, and troubleshooting abilities with high attention to detail.
- Clear, concise written and verbal communication skills.
- Adaptable, solutions-oriented mindset with a continuous improvement focus.
- Excellent problem-solving skills and can work in a fast-paced environment.
- Ability to adapt to changes and implement them accordingly.
- Ability to work as a team player while demonstrating leadership traits to steer our processing units/center.
- Proficient with Microsoft Office; Excel skills required.
Education:
- Bachelor's degree and 0-5 years of relevant insurance/reinsurance accounting experience.
Preferred/Nice to Have:
- Degree in business, accounting or finance related fields is a plus.
- Knowledge of reinsurance accounting principles, practices, and regulations; experience across ceded programs (e.g., QS, XOL, facultative), cash/settlements, and recoveries
- Experience and knowledge with leading reinsurance administration platforms (e.g., SICS, Pro, XL Pro, Pro Cede Reinsurance Master or similar)
For individuals assigned and/or hired to work in New York, Starr Insurance Companies is required by law to include a reasonable estimate of the compensation range for this role. The wage range for this role takes into account the wide range of factors that are considered in making compensation decisions including but not limited to skill sets: experience and training: licensure and certifications: and other business and organizational needs. A reasonable estimate of the current range is $65,000-$95,000
Starr is an equal opportunity employer, which means we'll consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we're committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.