SAP FS-RI Consultant

Job title : SAP FS-RI Consultant

To be considered for an interview, please make sure your application is full in line with the job specs as found below.

Location : Jersey City ,NJ

Job Type : Contract

Job Description

1. Role Overview

We are looking for an experienced SAP FS-RI Consultant with strong hands-on experience in SAP Reinsurance Management, reinsurance business processes, configuration, and production support. The ideal candidate must have a solid understanding of reinsurance accounting, treaty and facultative reinsurance, and integration with SAP S/4HANA Finance and SAP FS-CD.

Industry Experience: Insurance/Reinsurance industry experience is mandatory.

2. Required Technical and Functional Skills

• Strong hands-on experience with SAP FS-RI (Reinsurance) configuration and support.
• Proven reinsurance domain expertise, including:
• Treaty and Facultative Reinsurance.
• Proportional and Non-Proportional Reinsurance Structures.
• Ceded and Assumed Reinsurance.
• Experience in treaty/contract setup, premium calculation, postings, and estimations.
• Functional knowledge of claims processing, recoveries, commissions, settlements, Unearned Premium Reserve (UPR), and reinstatement premiums.
• Strong understanding of reinsurance accounting principles.
• Experience supporting month-end, quarter-end, and year-end closing processes.
• Integration experience with:
• SAP S/4HANA Finance (FI-GL, FI-AP, FI-AR).
• SAP FS-CD.
• Ability to analyze posting logic, document flow, reconciliation issues, and data discrepancies.
• Experience supporting System Integration Testing (SIT), User Acceptance Testing (UAT), and production issues.
• Ability to prepare functional specifications and participate in business requirement discussions.
• Exposure to SAP and non-SAP system interfaces.
• Basic ABAP debugging and log analysis skills.
• Experience Required: 6+ years of SAP experience, including at least 3+ years of hands-on SAP FS-RI experience.

3. Roles and Responsibilities

• Analyze business requirements related to reinsurance processes and translate them into SAP FS-RI functional solutions.
• Configure and support SAP FS-RI for treaty and facultative reinsurance, including proportional and non-proportional structures.
• Set up and maintain reinsurance contracts, treaties, sections, and participation structures.
• Support premium calculations, estimations, postings, claims, recoveries, commissions, and settlements.
• Ensure accurate reinsurance accounting and postings to SAP S/4HANA Finance.
• Manage UPR, reinstatement premiums, and period-end reinsurance activities.
• Support month-end, quarter-end, and year-end closing processes related to reinsurance.
• Collaborate with Finance, Actuarial, and Business stakeholders to resolve functional issues.
• Support and coordinate system integration with SAP FS-CD, SAP FI, and upstream/downstream systems.
• Prepare and maintain functional specifications, configuration documents, and test scenarios.
• Support SIT, UAT, defect resolution, and production issue management.
• Analyze and resolve posting errors, reconciliation issues, and data discrepancies.
• Ensure compliance with internal controls, audit requirements, and applicable regulations.
• Participate in change management, transport management, and release activities.
• Provide knowledge transfer and support to onshore/offshore teams as required.

4. Mandatory Requirements

• 6+ years of overall SAP experience.
• 3+ years of hands-on SAP FS-RI experience.
• Mandatory insurance/reinsurance industry experience.
• Strong functional knowledge of reinsurance processes and accounting. xhqgsiq
• Experience integrating SAP FS-RI with SAP Finance and SAP FS-CD.