- Before
- Owns 186 tasks in a checklist and finds out a file is late when the person after it asks where it is.
- Now
- Sees the ceded loss file re-run at 08:40, the ripple to day +9 by 08:42, and picks the recovery that brings it back to day +8.
One re-run file, from found to recovered
Day +3 of Northvale Casualty Group's Q3 2026 close. The plan says CFO sign-off on Fri 9 Oct, day +7. At 08:40 the ceded loss file changes under the reinsurance accrual. Here is what happens next, screen by screen, in the working solution.
- 01Mon 5 Oct, 07:30
The whole close on one timeline
Hannah Okafor · Financial controllerHannah opens the close timeline: every gating task and sign-off as a bar from day −2 to day +10, grouped into inputs, actuarial, reinsurance, accounting, reporting and sign-off, with the critical path drawn bold. 93 of 186 tasks done, one late. Projected close Fri 9 Oct, day +7 — on plan, with 2 working days of buffer before the audit committee pack.
Run log: “14 feeds checked · 11 in · Bramblewood bordereau overdue.”
- 0208:40
The ceded loss file is re-run
File and extract watcherThe watcher sees the reinsurance system re-run the ceded loss file: 6,118 ceded claims, 41 of them from the 18 Aug Front Range hail event re-coded to the catastrophe code. The file Carla Brandt's accrual used on Friday is void, and the re-run lands Tue 6 Oct 07:00. On the inputs board the file shows as a re-run, next to every other extract, bordereau and account with its row count and check.
- 03One click
“Show what moves” — and the agents work it through
Hannah Okafor · Financial controllerThe evidence checker sets Friday's work on the ceded accrual and the ceded IBNR back to not started, because both used the void file. The planner re-plans 24 gating tasks and 162 routine ones: the accrual can start Tue 6 Oct 07:00 and takes two days. The ripple adviser counts what moves, and the owner chaser drafts notes — but sends nothing yet.
Run log: “41 re-coded to the 18 Aug hail catastrophe · $2,316,400 ceded loss moves treaty.”
- 0408:42
The close slides to day +9
Ripple and recovery adviserEvery downstream bar slides along its links, with the plan left behind as a ghost. 12 tasks move, 3 of them sign-offs: the reserve committee, net reserves, journals, consolidation, flux review, the tax provision, the controller review — and the CFO sign-off, from Fri 9 Oct to Tue 13 Oct. No buffer is left before the audit committee pack on Wed 14 Oct.
“+2 days against the plan · no buffer before the audit committee pack.”
- 05Behind the bar
What the accrual actually books
Carla Brandt · Reinsurance accounting leadOpen the task and the reason is plain. Of 9 treaties, the commercial property quota share, the casualty clash and five other treaties are untouched by the re-run. The 41 hail claims leave the property per risk excess of loss (−$2,316,400) and land in the property catastrophe excess of loss (+$2,316,400). The accrual has run late in 3 of the last 5 closes, this one included.
“The task is done only on evidence.” Preparer Carla Brandt; reviewer Dev Raghunathan — not the preparer.
- 0608:52
Three recoveries scored; she picks one
Hannah Okafor · Financial controllerThe adviser scores three ways back. Book the hail recoveries on Ines Carvalho's $1,840,000 ceded IBNR estimate and true up in October — close day +7, but it needs a judgement memo and is disclosed to the auditors. Split the accrual: quota share today from Friday's premium file, the cat excess-of-loss recovery when the re-run lands — close day +8, no estimate in the quarter. Or leave the plan — close day +9. Hannah splits the accrual, and the timeline re-plans to Mon 12 Oct.
The adviser never applies a recovery and never proposes skipping a key control — the controller decides.
- 07Next
Ten owners told, in one go
Owner chaserEach note names the person's task, its new time and why: Dev Raghunathan's reserve committee, Gareth Lowe's net reserves and sub-ledger lock, Wen Li's consolidation, Ruth Adebayo's tax provision, Martin Albrecht's CFO sign-off now Mon 12 Oct pm. Hannah reads them and sends the 10 notes.
“Internal only — nothing goes to the brokers or TPAs.”
- 08Drafted
The CFO's note, with the new date
Close status writerThe status note to Martin Albrecht is redrafted from the new plan: projected close Mon 12 Oct, day +8 — 1 day later than the plan of Fri 9 Oct, with 1 working day of buffer before the audit committee pack. What moved, what is done, what to watch — the $412,380 premium receivable break, the overdue Bramblewood bordereau, Ridgefield's pooling balance — and what needs him. Every statement cites its task or file.
“Draft · nothing goes until you send it.”
- 09Same morning
Every sign-off, for every company
Lucy Ferrante · Internal auditThe sign-off matrix shows reserves, reinsurance, reconciliations, journals, tax, key controls, controller and CFO for Northvale Casualty Insurance Co., Northvale Indemnity Co., Ridgefield Specialty Insurance Co. and the group, each with how far it moved today. Hannah's controller review opens only when flux review, tax provision and key controls are in.
“Preparer and reviewer always differ · internal audit reads every sign-off.”
- 10After the close
Which tasks set the date, close after close
Close status writerWorking days to close: 12 in Q3 2025, 13 in Q4 2025, 11 in Q1 2026, 10 in Q2 2026, and for Q3 2026 a forecast of 8 against a plan of 7. Timing by task against the plan shows the ceded accrual and the consolidation that follows it setting the date in three of five closes. The retrospective ends with a suggestion for Q4: a cat-coding cut-off on day +1, so the ceded loss file is final before the accrual starts.