Finance Manager, Reinsurance Jobs

Individually we are people, but together we are Aviva. Individually these are just words, but together they are our Values – Care, Commitment, Community, and Confidence.
Reinsurance accounting in the general ledger is an integral part of the process for Aviva’s financial statement preparation, it also extends to reinsurance data submitted via PBCS to facilitate Aviva group consolidation. In addition, the submission of reinsurance-related schedules in the annual and quarterly OSFI regulatory returns is also an important aspect of this role.
Given reinsurance is a critical part of Aviva’s financial results, it is imperative that the accounting with respect to reinsurance transactions is timely, accurate, and complete. Aviva is required to maintain the record of cessions by reinsurers and the maintenance of the IT applications to generate this level of information is also part of this role. With the level of details required by the OSFI regulatory returns, compilation and review of the data is an important part of this position. Incorrect processing of reinsurance transactions has a significant impact on the bottom line of Aviva.
This role is also responsible for the reporting and settlement of the premiums and claims with the reinsurers in accordance with the terms of the reinsurance agreement, this involves reconciliation and validation of bordereaux and system data, as well as interacting with the brokers and reinsurers on an ongoing basis.
Come join our team!
What You’ll Do

• Coordinate compilation and review of the data for OSFI regulatory returns - reinsurance schedules and ensure that they agree to the respective GL balances. Review exposure by reinsurer and assess funding requirements and issue funding requests to the unlicensed reinsurers. Manage the maintenance of records for Funds held by Reinsurers and initiate drawdown as required.
• Manage reinsurance contract setup in ODS and CEDE system, by reference to the reinsurance placement slips and review the data for accuracy. Ensure that the percentage cessions to reinsurers are accurate and the retentions and limits are correct. Monitor month end closings and review overall results following each month end. Review balance sheet reconciliations to ensure all material reconciliation items are addressed.
• Respond to Business Partners on any queries on reinsurance cessions / reinsurance premiums and claims. Review queries from Reinsurers on premiums cessions. Render account to Brokers and Reinsurers on a timely basis.
• Analyze large loss reports from MINDS and review the ceded claims transactions to ensure that the numbers processed in the CEDE system and reasonable and accurate. Review the manual claims listing maintained by Reinsurance Claims to ensure that any manual adjustments for such claims are captured and processed in the month. Review cessions to quota share treaties and ensure processing of the same in the General Ledger. Ensure that the Reinsurance premiums are settled in accordance with the terms of the agreements. Also ensure that the cash received from brokers and reinsurers are processed in the systems promptly.
• Continuous process and system improvements as it relates to new accounting standards and new systems such as Oracle Fusion and PBCS. Train and mentor Reinsurance Analysts in various systems the team operates on and other period-end closing issues. Assist VP and AVP Reinsurance on project matters.

What You’ll Bring

• 5-10 years of progressive reinsurance accounting expertise with a blend of analytical, interpersonal, and communication skills. Experience in preparation of financial statements, training and managing a team of finance professionals; as well as interpreting accounting standards and regulations.
• A recognized professional accounting designation (CPA/CA/CMA/CGA)
• Experiences with both assumed and ceded reinsurance would be preferred. Solid understanding of Oracle Fusion and Blackline reconciliation tool preferred.

What You’ll Get

• Compelling rewards package including base compensation, eligibility for annual bonus, retirement savings, share plan, health benefits, personal wellness, and volunteer opportunities.
• Employee driven programs focused on gender, LGBTQ+, origins, diversity and inclusion
• Outstanding Career Development opportunities.
• Corporate wellness programs to support our employees’ physical and mental health
• Hybrid flexible work model
• We’ll support your professional development education.
• Competitive vacation package with the option to purchase 5 extra days off per year

Aviva Canada has an accommodation process in place to provide accommodations for employees with disabilities. If upon commencement of employment you require a specific accommodation because of a disability, please contact your Talent Acquisition Partner so that an appropriate accommodation can be arranged. This process applies throughout your career with Aviva Canada.