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SVP, Finance - Ceded Reinsurance Accounting

External
Arch Capital logoArch Capital · Jersey City, NJ United States Of America
Full-timeRemote1d ago
Leadership
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With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠. Job Summary The Senior Vice President, Ceded Reinsurance Accounting is a critical contributor to Arch Insurance North America's (AINA) ceded reinsurance strategy. This role is responsible for the end‑to‑end controllership and financial operations of the corporate Ceded Reinsurance function at AINA. Overall, the Ceded Reinsurance Accounting function coordinates the settlement and financial recording of over $1B in annual Treaty and Facultative premium. This role will report to the Chief Financial Officer of AINA and be a key member of the AINA Finance leadership team. The SVP will be integral to successfully executing the financial commitments of the reinsurance treaties placed by AINA's Ceded Reinsurance department and the facultative arrangements transacted by AINA's Underwriting units. This role requires a strategic focus as well as a hands‑on approach and will partner with Ceded Reinsurance placement, Underwriting, Operations, Claims, Legal, Actuarial, Treasury, Information Technology and other teams within Corporate Finance to optimize outcomes for internal and external constituents and deliver accurate and timely results for reporting. This role will sit in the Hartford, Jersey City, Philadelphia, or Garden City office on a hybrid basis of three days in the office, two days remote. RESPONSIBILITIES AND ACCOUNTABILITIES Manage Bordereaux and Billing for Treaty and Facultative Clients Coordination and oversight of post placement account settlement and billing with reinsurance trading partners, ensuring accuracy and timely performance of obligations. Reporting of all required information as agreed to under the reinsurance arrangements in an efficient and scalable process. Management of all cash activities billing, collections, reporting and reconciliation. Oversee collateral management to ensure adequate balances are maintained and adjusted as needed to mitigate reinsurance trading partner counterparty exposure or to satisfy regulatory requirements. Manage Financial Reporting and Close Activities Manage the ceded reinsurance close and reporting calendar for treaty and facultative business, ensuring recognition of premiums, ceding commissions, loss recoverable, reinstatement premiums, and other financial items to be recorded under the contractual terms. Coordinate with corporate reporting teams to provide analytics and explanations for the effect of ceded reinsurance transactions as part of the quarter close reviews and report outs. Provide comparisons to prior periods and plan with explanations and support. Oversee all ledger accounts that are part of the Ceded Reinsurance Accounting controllership function. This includes but is not limited to balance sheet reconciliations, variance and flux commentary and insights connecting P&L and balance sheet results. Other Responsible for creating workforce and staffing plans - including onshore and offshore capabilities - to accomplish the objectives of the department. Build, mentor, and scale a high‑performing team, including focus on training, career development, and succession planning. Own, develop and execute tactical and operational plans that have a direct impact on the achievement of functional strategies. Manage the periodic planning and reforecasting process for business that is the responsibility of the Ceded Reinsurance Accounting function, including analyzing the effect of changes in business subject to reinsurance and changes to the reinsurance arrangements themselves have on projected treaty and facultative financials. Maintain a robust control environment (SOX/ICFR), and lead interactions with internal and external auditors. Take part in continuous reevaluation and improvement of the groups' internal control environment. Work with the broader organization to identify process improvements, data quality, controls enhancements and a variety of other initiatives to ensure optimal outcomes for AINA overall while representing both Ceded Reinsurance Placement and Corporate Finance. REQUIRED SKILLS AND ABILITIES Proven leader and collaborative team player who provides strategic guidance and vision while also maintaining a hands-on approach when required. Ability to manage complex, detail-oriented initiatives under tight deadlines, while effectively responding to unplanned projects and emerging challenges. Broad exposure to operational disciplines, including underwriting, claims, and IT, with the ability to ensure effective cross-functional communication and the accurate capture of information required for downstream financial reporting. Strong ability to communicate financial analyses, insights, and conclusions clearly and effectively to a wide range of sta


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