Financial Analyst at AIG

San Juan, Puerto Rico, Puerto Rico

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Not SpecifiedCompensation

Junior (1 to 2 years), Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Bachelor’s degree in accounting or finance
CPA and/or public accounting experience is a plus
Experience in job-related tasks within Insurance and/or Financial Services industry
Proficient in all Microsoft applications (Word, Excel, PowerPoint, etc.)
Bilingual - Excellent written & verbal communication skills in both Spanish and English
Ability to collaborate and interact effectively with all levels of staff and management
Time management skills and customer oriented
Analytical and problem-solving capabilities with a strong attention to detail
Collaborative skills and the ability to contribute effectively to a team environment, with other units within/outside the department and companywide
Maintain a positive attitude with the ability to make sound decisions with minimal supervision
Ability to multitask with a variety of systems and processes

Responsibilities

Prepare Financial Statement Quarterly Reports (U.S. GAAP) for AIG Puerto Rico Insurance
Prepare Financial Statement for AIG Latin America II & New Hampshire Insurance Company entities and provide training to coworkers as tasks loads were redistributed
Prepare and provide supporting documentation to auditors
Communicate with counterparties for the reconciliation of pending reinsurance items
Prepare and register licenses amortization schedules for Caribbean American Home – Direct licenses entity
Analyze, reconcile, and pay monthly Reinsurance Premium Payable Balances
Analyze, reconcile, and collect monthly Reinsurance Losses Recoverable Balances
Prepare the Intercompany Matching Report Template for the Insurance and Non-Insurance balances for entities such as: Caribbean American Home Assurance, Caribbean American Home – Direct Licenses, New Hampshire, & American Home Assurance – Jamaica
Reconcile Intercompany variances over threshold with team members and provide supporting documentation related to pending bookings
Prepare and register accruals for Intercompany salary recovery expenses
Monthly reconciliation and submission of OGIS report to Corporate, which relates to all premium production, claims paid, claims outstanding, reserves for doubtful accounts and Late Traveling Premiums of the company and reconcile it against both accounting reports and General Ledger
Register monthly Intercompany expenses and request payments related to non-Insurance balances and expenses
Prepare and register Cost Distribution for AIG Latin America II and Caribbean American Home Assurance entities to ensure no unallocated expenses at closing period
Prepare and register quarterly journal entries such as: Premium Allowance, Premium Recognition, Intercompany Entries, Losses Reinsurance Bad Debt Reserve, among others
Analyze and reconcile various General Ledger accounts such as: Bank/Pool account; Reinsurance Recoverable and Payable accounts; Premium Receivable account; among others
Monitor the closing process of Caribbean American Home entity which requires an effective interaction with all staff level within the company, timely and accurate reporting and disclosures
Complete projects as assigned and any other related tasks

Skills

Key technologies and capabilities for this role

U.S. GAAPFinancial ReportingReconciliationReinsuranceIntercompany TransactionsAccrualsAmortization SchedulesAuditing Support

Questions & Answers

Common questions about this position

What is the employment type for this Financial Analyst position?

The position is full-time.

Is this Financial Analyst role remote or office-based?

This information is not specified in the job description.

What key responsibilities require financial analysis skills for this role?

The role involves preparing financial statements under U.S. GAAP, analyzing and reconciling General Ledger accounts like reinsurance recoverables/payables and premium receivables, and handling intercompany reconciliations and accruals.

What is the company culture like for the Finance team at AIG?

The Finance team plays an essential role in maintaining a healthy balance sheet, optimizing operations, ensuring controllership, and providing timely information to inform leadership decisions while complying with regulations.

What makes a strong candidate for this Financial Analyst position?

Strong candidates will have experience in financial reporting under U.S. GAAP, reinsurance accounting, intercompany reconciliations, and monitoring closing processes with effective interaction across staff levels.

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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