Reinsurance Associate

Location
Manchester, New Hampshire
Salary
Salary plus bonus opportunity
Posted
Apr 04, 2018
Closes
Apr 20, 2018
Ref
GIJ-RA4418
Category
Reinsurance
Job Type
Full Time

Under moderate supervision, the Senior Reinsurance Associate issues timely notices, status reports and billings to reinsurers and brokers, with a focus on complex programs and portfolios. The Senior Reinsurance Associate will also participate in reinsurance and company projects as assigned.

Essential Functions:

  • Issue notices, status reports, and billings to reinsurers and brokers, with a focus on complex programs and portfolios
  • Ensure verification and accuracy of reinsurance cessions  
  • Cash Application, including research and clearing of cash differences  
  • Communicate and interact with reinsurers, brokers, and various departments within Company as needed  
  • Flexibility to assist management in various initiatives as needed  
  • Recommend improvements to billing and collection processes  
  • May support reinsurance system improvements through user acceptance testing  
  • Ensure accuracy of records and adherence to internal controls  
  • Provide training and guidance relative to reinsurance billing and receivables to team as necessary including training on Sapiens processes as well as technical training to staff  
  • Models and practices the RiverStone values  
  • Contribute to all assigned departmental and/or company objectives and initiatives  
  • Serves on organizational committees or projects as assigned  
  • Responsible for analysis, improvement and timely generation of assigned reporting for Reinsurance department billing, collection, and reinsurance notification activities  
  • Responsible for analysis and reduction of Schedule F penalties through improved reporting, procurement of collateral in accordance with contract terms and facilitating collection personnel in the targeting and collection of delinquent reinsurer balances  
  • Responsible for schedule F creation, review and analysis  
  • Responsible for migration of assigned claim portfolios into Sapiens including the resolution of any data anomalies that arise  
  • Responsible for resolution of assigned data cleanup projects  
  • Responsible for resolution thru collection or approved write-off of assigned legacy balance collections  
  • Provides analysis of large net balances for potential collectible reinsurance  
  • Review the accounts receivable system on a daily basis for assigned territory  
  • Responsible for timely filing of proofs of claim against illiquid reinsurer estates  
  •  Maintains high degree of confidentiality.

 

Related Functions:  

  • Support commutations, novations, consolidations, acquisitions and migrations as needed  
  • Support as needed to internal audit inquiries as necessary  
  • Support conversions as necessary

 

Required Skills:

  • Advanced knowledge of reinsurance billing and receivables practices  
  • Strong understanding of reinsurance  
  • Strong service orientation  
  • Intermediate understanding of direct claims, including coverage issues and allocation analysis
  • Detail oriented with strong mathematical, analytical, research, and organizational skills. Must be able to prioritize and handle multiple assignments or projects simultaneously and meets established deadlines  
  • Effective verbal and written communications skills with the ability to work effectively with reinsurers, peers and management  
  • Highly proficiency in the use of common business applications such as Excel, Word, PowerPoint, Access, Outlook  
  • High level of competency with Reinsurance Systems  
  • Understanding of reinsurance contracts, both treaty and facultative
  • Ability to work independently with little supervision  
  • Understand the flow of ceded financial data, the schedule F process and collateral procurement and management process.  
  • Ability to provide feedback to peers and train in a one on one setting or in small groups

 

Experience:

  • Experience in reinsurance or claim processing preferred

 

Education:

  • Bachelors degree preferred or equivalent reinsurance experience
  • Completion of or intent to begin coursework toward professional designation (ARe, CLIP) within 18 months of hire