Reinsurance Financial Accountant

EXL (NASDAQ: EXLS) is a global data and artificial intelligence ("AI") company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. 

We are headquartered in New York and have more than 60,000 employees spanning six continents. For more information, visit www.exlservice.com.

Role Title: Reinsurance Financial Accountant

BU/Segment: Insurance

Location:   London, United Kingdom (Hybrid working 4 days a week in the office) 

Employment Type: Permanent

Summary of the role:

We are looking for an experienced Reinsurance Financial Accountant to support an accounting cleanup and transformation project. The role will focus on reconciling and validating reinsurance balances, identifying missing or incorrect calculations, resolving historical accounting issues, and improving the underlying processes and controls to ensure the books reflect complete, accurate, and true and fair values.

As part of your duties, you will be responsible for:

• Perform detailed reinsurance account reconciliations and investigate aged, unmatched, or unexplained balances.
• Review reinsurance balances across source systems, sub-ledgers, calculations, and General Ledger.
• Identify missing, incomplete, or incorrect reinsurance calculations and accounting entries.
• Reconstruct and validate calculations manually where required, including premiums, claims, commissions, recoveries, adjustments, accruals, and other treaty-specific calculations.
• Determine root causes behind accounting and reconciliation differences and recommend appropriate remediation.
• Prepare supporting calculations and proposed accounting adjustment entries for client review and approval.
• Review the client's end-to-end reinsurance accounting processes, identifying control gaps, excessive manual activities, process inefficiencies, and system/data issues.
• Recommend an optimized future-state process, including stronger reconciliations, controls, standardization, and potential automation opportunities.
• Maintain clear documentation and audit trails for issues identified, calculations performed, adjustments proposed, and remediation completed.
• Work closely with Finance, Reinsurance Operations, Claims, IT/Data, and other client stakeholders to drive issues through to closure.

Qualifications and experience we consider to be essential for the role:

• Strong experience (15+ years) in reinsurance financial accounting within insurance, reinsurance, 

• Good understanding of treaty and facultative reinsurance, including proportional and non-proportional arrangements.

• Strong knowledge of reinsurance premiums, claims, recoveries, commissions, accruals, settlements, and treaty-specific calculations.

• Hands-on experience with complex reconciliations, accounting remediation, and historical balance cleanup.

• Strong analytical and root-cause investigation skills.

• Advanced Excel and financial data analysis capabilities.

• Experience with finance transformation, process improvement, controls, or automation initiatives would be highly desirable.

• Qualified/part-qualified accountant such as CA, CPA, ACCA, ACA, CIMA, or equivalent preferred.

As part of a leading global Data and AI company, you can look forward to:

• A competitive salary with a generous bonus, private healthcare, critical illness life assurance at 4 x your annual salary, income protection insurance, and a rewarding pension.

• EXL provides everyday financial well-being solutions, such as cash back cards, in which you can earn cashback while enjoying discounts, promotions, and offers from top retailers. We also offer a Cycle Scheme where you can save money on bikes and cycling accessories.

• At EXL, we are committed to providing our employees with the tools and resources they need to succeed and excel in their careers. We offer a wide range of professional and personal development opportunities. We also support a range of learning initiatives that allow our employees to build on their existing skills and knowledge. From online courses to seminars and workshops, our employees have the opportunity to enhance their skills and stay up to date with the latest trends and technologies.

• As an Equal Opportunity Employer, EXL is committed to diversity. Our company does not discriminate based on race, religion, colour, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, age, or disability status.

• EXL employees are eligible to purchase stock as part of our Employee Stock Purchase Plan (ESPP).

• At EXL, we offer a flexible hybrid working model that allows employees to live a balanced, healthy lifestyle while strengthening our culture of collaboration.

To be considered for this role, you must already be eligible to work in the United Kingdom.