Director, Reinsurance Accounting - Internal Reinsurance at AIG

Wilton, Connecticut, United States

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Not SpecifiedCompensation

Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Insurance, ReinsuranceIndustries

Requirements

Advanced knowledge of Property & Casualty reinsurance including underwriting, claims, accounting, finance, and associated process, controls, and systems
10+ years of experience managing reinsurance operations and finance on a global basis
Advanced working knowledge of relevant trends and information within the industry
Advanced knowledge of accounting principles and practices, the insurance/reinsurance markets, and the analysis and reporting of financial data
Advanced working knowledge of business and management principles involved in strategic planning, resource allocation, leadership technique, and coordination of people and resources
Technical and/or analytic expertise that can be adapted to current technologies
Strong technical skills in Microsoft Excel, Access, PowerPoint, and Word
Strong verbal and written communication skills with significant experience interacting with senior management and external stakeholders
Strong negotiation, analytical, decision making, problem resolution and organization skills

Responsibilities

Financial Reporting (GAAP/STAT, 10Q/K, Schedule F, etc.)
Responsible for key reinsurance finance processes and associated controls
Responsible for all financial reporting, accounting, and reconciliations for all reinsurance activity, inclusive of Schedule F part 1 (full ownership), and Part 3 (specific ownership)
Provide analytical analysis on quarterly P&L activity and balances as of reporting date on a GAAP and STAT basis for reinsurance activity
Intercompany reconciliations supporting consolidation of AIG financial statements and SOX compliance for statutory reporting
Manage operationalization of accounting/reporting for a global internal reinsurance program, including associated financial bookings, including premium and loss calculations
Manages team handling cash settlements, statement and invoice preparation
Participation in several committees for coordination and communication across multiple teams
Participation and support of key strategic initiatives including transformation activities under AIG Next
Work closely with financial controls unit, internal and external audit on reinsurance
Partner closely local international controllership teams to facilitate implementation of internal reinsurance
Provide expertise to various internal and external stakeholders through participation in various steering committees
Prioritize and address various broad and individual projects, process improvements and transformation activities as they arise
Provide guidance and recommendations as respects reviewing optimal options and solutions to new and existing issues as they arise by leveraging knowledge of existing constraints
Create alignment through thought leadership, critical thinking, direction/context setting and stakeholder communications

Skills

GAAP

STAT

Schedule F

SOX

Reinsurance Accounting

Intercompany Reconciliations

P&L Analysis

Premium Calculations

Loss Calculations

GL/SL Reconciliation

Financial Controls

Cash Settlements

AIG

Global insurance provider for individuals and businesses

About AIG

AIG provides a variety of insurance products and services aimed at individuals, families, and businesses. Their offerings include life insurance, retirement planning, and commercial insurance, which help clients manage risk and protect their assets. AIG operates by underwriting insurance policies and managing risk, while also investing the premiums collected to generate income. This company stands out from competitors by not only focusing on traditional insurance but also emphasizing cybersecurity and data protection to keep clients' information safe. AIG's goal is to help clients achieve financial security and peace of mind through comprehensive insurance solutions.

New York City, New YorkHeadquarters

1919Year Founded

IPOCompany Stage

Cybersecurity, Financial ServicesIndustries

10,001+Employees

Benefits

Health, dental, & vision coverage

Flexible Spending Accounts (FSA)

401(k)

PTO

Commuter Expense Reimbursement Account

Risks

Sale of personal travel business may reduce AIG's market presence in travel insurance.

Expansion in Atlanta could pose financial risks if expected growth does not materialize.

Deconsolidation of Corebridge Financial might lead to loss of synergies and increased costs.

Differentiation

AIG offers a wide range of insurance products globally, serving diverse client needs.

Corebridge Financial, a subsidiary, enhances AIG's offerings in retirement planning and financial futures.

AIG emphasizes cybersecurity and data protection, ensuring clients' information remains secure.

Upsides

AI adoption in underwriting and claims processing enhances efficiency and reduces costs for AIG.

InsurTech partnerships offer AIG opportunities to enhance digital capabilities and drive innovation.

Telematics and usage-based insurance allow AIG to offer personalized and flexible products.

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