Junior Reinsurance Accountant - Sydney, Australia
MetLife · No · 1mo ago
This role is responsible for the accurate processing, accounting and reconciliation of domestic, overseas and affiliate insurance business. Working closely with internal stakeholders, reinsurers, affiliated partners and external clients, you will play a key role in ensuring the integrity of financial records, supporting month-end processes, maintaining balance sheet reconciliations and driving continuous process improvements.
We are seeking a motivated Junior Reinsurance Accountant to join our team on a temporary basis to provide coverage while an existing employee is on an approved period of unpaid leave.
This is an excellent opportunity to make an immediate impact in a well-established team, working across a diverse range of activities while gaining valuable experience within our organisation.
Key Responsibilities
Insurance and Reinsurance Accounting
Process and account for overseas, affiliate and ALICO insurance business, ensuring transactions are accurately recorded and reconciled.
Perform cash and accrual accounting within GRDR and PeopleSoft for Offshore Affiliate Business and related portfolios.
Proactively engage with fronting reinsurance companies to obtain bordereaux statements and supporting information on a timely basis.
Prepare and process third-party commission accruals, settlements and related accounting entries.
Review and process foreign exchange cash clearing settlement journals.
Financial Control and Reconciliations
Maintain Affiliate Business general ledger accounts and complete balance sheet reconciliations.
Perform bank reconciliations and investigate reconciling items.
Reconcile GRDR balances to the General Ledger and resolve any differences identified.
Monitor ageing balances and follow up outstanding settlements due to MetLife.
Prepare supporting documentation for Credit Control Working Group meetings.
Stakeholder Management and Reporting
Liaise with Client Services, Accounts Payable, reinsurers and affiliated partners to resolve policy, settlement and processing matters.
Prepare and analyse monthly commission charges payable on MetLife products.
Respond to stakeholder queries in a timely and professional manner.
Run Alteryx reporting to generate statistical data and support downstream valuation activities.
Continuous Improvement
Identify opportunities to enhance processes, controls and system effectiveness.
Contribute to initiatives that improve operational efficiency, accuracy and financial governance.
Required Qualifications
Degree qualification in Accounting, Finance or a related discipline.
Experience within financial services, insurance or a related regulated industry.
Intermediate Microsoft Excel skills, including reconciliations, reporting and data analysis.
Strong analytical and problem-solving skills with exceptional attention to detail.
Demonstrated ability to manage competing priorities and consistently meet deadlines.
Strong written and verbal communication skills, with the ability to engage effectively with internal and external stakeholders.
Ability to leverage AI-enabled productivity tools (such as Microsoft Copilot or similar technologies) to improve efficiency, streamline workflows and enhance work outcomes while maintaining appropriate governance and controls.
Preferred Qualifications
Experience in the insurance or reinsurance industry.
Working knowledge of PeopleSoft.
Experience with general ledger reconciliations, commission accounting and settlement processing.
Exposure to Alteryx or other data and reporting tools.
Understanding of reinsurance operations, affiliate business accounting and financial control processes.
Benefits We Offer
When you join MetLife Australia, you are joining a company that demonstrates holistic care and wellbeing for employees with benefits and programs that address physical, mental, social and financial health. We offer life insurance benefits, generous paid parental leave, market leading menopause and fertility leave, car leasing and more. As well as Employee Assistance Program (EAP), access to 360Health medical support, volunteer leave and study assistance.
About MetLife
Recognised on Fortune magazine's list of the "World's Most Admired Companies", Fortune World’s 25 Best Workplaces™, as well as the Diversity Council of Australia Inclusive Employer Award, MetLife, through its subsidiaries and affiliates, is one of the world’s leading financial services companies; providing insurance, annuities, employee benefits and asset management to individual and institutional customers. With operations in more than 40 markets, we hold leading positions in the United States, Latin America, Asia, Europe, and the Middle East.
As part of our New Frontier strategy, MetLife is building an AI-enabled, people-centered future. We’re looking for people who bring curiosity, adaptability, and a growth mindset as we use AI to enhance how we serve customers, support communities, and evolve the way work gets done. At MetLife, AI is a responsible partner that supports human judgment, creativity, and continuous improvement while helping us build trust, inclusion, and long-term value.
Our purpose is simple - to help our colleagues, customers, communities, and the world at large create a more confident future. United by purpose and guided by our core values - Win Together, Do the Right Thing, Deliver Impact Over Activity, and Think Ahead - we’re inspired to transform the next century in financial services. At MetLife, it’s #AllTogetherPossible. Join us!