- Identify, calculate, record, report and settle premium and loss reinsurance in relation to contract terms and department standards. May include handling and collection of reinsurance claims of moderate to high complexity
- Reconcile complex detail reinsurance related activity, identify issues, coordinate resolution and take corrective actions as directed. Update financial and underwriting and/or claim systems, accordingly
- Prepare and analyze internal and external reports in accordance with regulatory and/or departmental guidelines. Analysis includes reviewing for trends, anomalies, and reconciliation to key data sources
- May provide training and oversight review to junior peer accounts
- Lead relationship and communication with internal Zurich business partners and external reinsurance customers within area of responsibility, including timely response to all external inquiries a prescribed by department standards
- Provide ongoing work-flow status, risk assessment and issue insight to Group Reinsurance management and internal and external stakeholders
- Bachelors Degree and 4 or more years of experience in the Reinsurance, Insurance, or Finance area
OR - Zurich Certified Insurance Apprentice, including Associate Degree and 4 or more years of experience in the Reinsurance, Insurance, or Finance area
OR - High School Diploma or Equivalent and 6 or more years of experience in the Reinsurance, Insurance, or Finance area
AND - Microsoft Office experience
- Experience in Excel – Intermediate/Advanced
- Insurance industry experience
- Knowledge of reinsurance contracts
- Demonstrate team-oriented experience
- Knowledge of AR/AP (accounts receivable /payable)
- Knowledge of reinsurance claim recoverable process and link to direct claim processing
- Technology experience related to one or more of the following areas: General ledger, financial reporting systems and good knowledge of reconciliations.
- Knowledge of Captive Reinsurance accounting helpful, but not required
- Ability to multi-task, working on many projects
- Strong verbal and written communication skills
- Strong analytical and problem-solving skills
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Reinsurance Financial Analyst - Schaumburg, United States - Zurich Insurance Company
Description
Zurich Services LLC (a division of Zurich North America) is currently hiring a Reinsurance Financial Analyst II on the WAQS/Bermuda team and this person will report to a Reinsurance Financial Manager within Group Reinsurance.
The ideal candidate can work in Schaumburg, IL or remotely.
This position is within Zurich's Group Reinsurance (Group Re) function; a global function. The North American Group Reinsurance hub function manages $18 billion in reinsurance recoverable, $9 billion of assumed and ceded premiums and has the fiduciary responsibility for reinsurance collateral of approximately $15 billion.
The Reinsurance Financial Analyst II analyzes and performs intermediate to complex reinsurance accounting transactions and financial reporting, ensuring compliance with terms and conditions of the reinsurance agreements and department standards. The job entails preparations of statements, settlement, collection, cash application in the subledgers, reconciliations and analysis for proper accounting and reporting.
Additional responsibilities include:
Basic Qualifications:
Preferred Qualifications:
As a condition of employment at Zurich, employees must adhere to any COVID-related health and safety protocols in place at that time ().
