Reinsurance Accountant

Description UFG is currently hiring for a Reinsurance Accountant to assist in the preparation of accounting, reporting, and analysis of United Fire Group’s (UFG) reinsurance transactions. This role prepares supporting documents and performs procedures to ensure all ceded and/or assumed reinsurance activity is properly recorded in accordance with GAAP and statutory accounting principles while maintaining data integrity across subledger and financial reporting systems. Working closely with other members of the Reinsurance Team, the Reinsurance Accountant aids with treaty execution activities, cash settlements, and reconciliations. This individual also assists in implementing process improvements, strengthening internal controls, and supporting both external and internal audit requests. The ideal candidate demonstrates strong analytical skills, a principle understanding of reinsurance accounting practices, and the ability to work both independently and collaboratively in a complex insurance environment. Essential Duties and Responsibilities: Reinsurance Operations & Reporting Prepare ceded and/or assumed reinsurance journal entries, reconciliations, and supporting schedules for monthly, quarterly, and annual closings. Assist with the preparation of reinsurance-related financial statement disclosures, statutory schedules, and management reports. Prepare reinsurance results and analyze variances, providing insights and explanations to team members. Review treaty terms and documentation to understand accounting treatment (i.e., GAAP, statutory accounting principles). Collaborate with business partners across actuarial, underwriting, claims, and finance to resolve discrepancies and ensure data integrity. Support cash settlement processes, including billing, collections, and reconciliations of reinsurance receivables and payables. Governance & Controls Prepare SOX-compliant documentation, ensuring adherence to company policies and internal control requirements. Assist with audit requests, including internal controls and testing evidence. Collaboration & Process Improvement Participate in continuous improvement initiatives aimed at optimizing processes, standardizing reporting, and automating data flow. Support system enhancements and testing related to reinsurance accounting or financial reporting applications. Collaborate with cross-functional teams including operations and IT to support finance transformation initiatives designed to modernize systems and standardize financial processes. Perform other duties as assigned to support the reinsurance team and company goals Job Specifications: Education: Bachelor’s degree in Accounting or Finance required. Certified Public Accountant (CPA) or progress toward certification preferred. Experience: 1 - 3 years of reinsurance or insurance accounting experience Prior experience within property and casualty insurance, preferred Knowledge, skills & abilities: Principle understanding of GAAP and statutory accounting principles. Analytical and problem-solving skills with attention to accuracy and detail. Strong proficiency in Microsoft Excel (pivot tables, VLOOKUP, complex formulas) Experience with financial systems or reinsurance subledgers desirable. Strong communication and collaboration skills across cross-functional teams. Ability to handle multiple priorities, meet deadlines, and work effectively in a dynamic environment. Ability to work both independently and collaboratively in a team setting Process understanding mindset with ability to identify and implement efficiency enhancements Critical thinking skills and sound professional judgment Working Conditions: General Office Environment Travel Requirements: Infrequent travel, only as needed Pay Transparency Statement: UFG Insurance is committed to fair and equitable compensation practices. The base salary range for this position is $59,621 - $78,637 annually, which represents the typical range for new hires in this role. Individual pay within this range will be determined based on a variety of factors, including relevant experience, education, certifications, skills, internal equity, geography and market data. In addition to base salary, UFG Insurance offers a comprehensive total rewards package that includes: Annual incentive compensation Medical, dental, vision & life insurance Accident, critical Illness & short-term disability insurance Retirement plans with employer contributions Generous time-off program Programs designed to support the employee well-being and financial security. This pay range disclosure is provided in accordance with applicable state and local pay transparency laws.