Reinsurance Accounting Specialist

Consultant - Operations-REF97649Q

Company Description

WNS (Holdings) Limited (NYSE: WNS), is a leading Business Process Management (BPM) company. We combine our deep industry knowledge with technology and analytics expertise to co-create innovative, digital-led transformational solutions with clients across 10 industries. We enable businesses in Travel, Insurance, Banking and Financial Services, Manufacturing, Retail and Consumer Packaged Goods, Shipping and Logistics, Healthcare, and Utilities to re-imagine their digital future and transform their outcomes with operational excellence.We deliver an entire spectrum of BPM services in finance and accounting, procurement, customer interaction services and human resources leveraging collaborative models that are tailored to address the unique business challenges of each client. We co-create and execute the future vision of 400+ clients with the help of our 44,000+ employees.

Job Description

Job SummaryThe Reinsurance Accounting Specialist is responsible for managing and reconciling all reinsurance-related transactions during the annual financial closing process. This role ensures compliance with regulatory requirements, accurate reporting, and timely completion of reinsurance schedules and statements. Compiling, validating, and submitting Schedule S as part of the annual statutory financial reporting process for a reinsurance company• Annual Closing Activities• Prepare reinsurance-related journal entries for year-end closing.• Reconcile reinsurance accounts, including premiums, commissions, recoverables, and payables.• Financial Reporting• Assist in preparing reinsurance disclosures for statutory financial statements.• Support actuarial and finance teams with reinsurance data for reserve calculations and risk assessments.• Preparation of Schedule S• Gather and reconcile ceded and assumed reinsurance data from internal systems.• Prepare detailed Schedule S exhibits, including Part 1 through Part 7, in accordance with NAIC statutory requirements.• Ensure proper classification of reinsurance agreements (e.g., proportional, non-proportional, affiliated vs. unaffiliated).• Data Validation & Reconciliation• Verify accuracy of reinsurance balances, premiums, losses, commissions, and recoverables, etc. Ensure all reinsurance balances agree with supporting documentation and contracts.• Reconcile Schedule S data to the general ledger and other statutory schedules (e.g., Schedule F, Schedule P).• Compliance & Regulatory Reporting• Ensure compliance with NAIC Annual Statement Instructions and state regulatory requirements.• Maintain documentation and support for all Schedule S entries for audit and regulatory review.• Collaboration• Coordinate with underwriting, claims, actuarial, and finance teams to obtain accurate data.• Communicate with external reinsurers and brokers for confirmations and clarifications.• Audit Support

Qualifications

Commerce Graduate or above

Experience Level

Entry Level