Reinsurance Associate

Location
Manchester, New Hampshire
Salary
Not Specified
Posted
Apr 10, 2018
Closes
Jun 09, 2018
Ref
SRA020718#GIJ--Riverstone.1
Category
Reinsurance
Job Type
Not Specified
Career Level
Not Specified
Under moderate supervision, the Reinsurance Associate issues timely notices, status reports and billings to reinsurers and brokers, with a focus on complex programs and portfolios. The Reinsurance Associate will also participate in reinsurance and company projects as assigned.

Responsibilities and Duties

  • 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

    Required Education

    Bachelors degree preferred or equivalent reinsurance experience

    Required Experience

    Experience in reinsurance or claim processing preferred

    Desired Education

    Completion of or intent to begin coursework toward professional designation (Are, CLIP) within 18 months of hire
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