Billing, Notification, & Reporting (BNR) Ceded Reinsurance Associate
- Employer
- RiverStone Resources
- Location
- Manchester, New Hampshire or Remote
- Salary
- Not Specified
- Closing date
- Aug 13, 2022
View more
- Category
- Claims, Operations, Reinsurance
- Job Type
- Full Time
- Career Level
- Entry Level
Job Details
Job Title
Billing, Notifications & Reporting Unit “BNR”– Ceded Reinsurance Associate
Location
Hybrid (Manchester, NH) or Remote (Considered)
Summary
The Billing, Notifications and Reporting Unit or “BNR” is responsible for billing Reinsurance asset due to us on claims paid, advise reserve changes held for future billings, ensure the reinsurance asset is correctly recorded and support timely/accurate notification of the current status of reinsurance claims to brokers and reinsurers. Support the cash application function and other company projects where needed.
Essential Functions
Billing:
- Learn and retain an understanding of key reinsurance terms around billing in a reinsurance contract
- Learn and understand different types of reinsurance contracts (Fac/QS/XoL)
- Learn, maintain and improve where possible reinsurance billing and record keeping processes
- Bill brokers and reinsurers on assigned reinsurance claims within the timeframe expected within department and within contractual terms
- Contribute to the reduction of the Schedule F penalty
- Provide status of assigned reinsurance claim billings and escalate issues
- Ensure the billing matches the reinsurance paid recoverable asset recorded
- Assist/support collections in resolving queries in relation to the billings.
Notifications and Reporting:
- Distribute updates on reinsurance claims to reinsurers within expected timeframes
- To maintain log and diary of reporting and notifications.
- Follow company processes for both automatic and manual notifications
Risk and control Reporting:
- Provide relevant data and evidence of compliance in support of in/external risk, controls and audit reporting
Other
- Provide relevant data and evidence of compliance in support of in/external risk, controls and audit reporting
- Communicate and interact with reinsurers, brokers, and various departments within Company as needed
- Identify and implement process improvements for BNR
- Flexibility to assist management in various initiatives as needed
- May support reinsurance system improvements through user acceptance testing
- Contribute to all assigned departmental and/or company objectives and initiatives
- Serves on organizational committees or projects as assigned
- Models and practices the RiverStone values
Preferred Skills
- Intermediate understanding or expertise of:
- treaty and facultative reinsurance, and industry re/insurance issues
- re/insurance coverage and complex claims issues
- reinsurance billing and receivables practices
- direct & assumed claims
- Capable of learning and understanding RiverStone’s business and data sources and processes
- Strong service orientation
- Detail oriented with strong mathematical and organizational skills
- Effective verbal and written communications skills
- Highly proficient in the use of common business applications such as Excel, Word, Access, Outlook
Experience
- 3 plus years of Ceded reinsurance collections and billings experience preferred but not required
- Asbestos, Pollution, Health Hazard and other complex claim experience a plus
- Billing and Receivables experience, preferably within a Reinsurance department
Required Education
Four-year college degree
Preferred Education or Certification
Professional designation (ARe, CLIP)
Supervisory Role
None
Travel
Infrequent but as needed.
Work Environment / Physical Demands
This position operates in a professional cubicle based collaborative environment and must have the ability to timely produce thorough, accurate work with many competing demands, deadlines, and distractions. The position uses standard equipment such as phones, computers, copiers/printers and filing cabinets. Noise level is moderate.
Other Duties (Disclaimer Statement)
RiverStone retains the right to change or assign other duties to this position as needed, OR
Other duties or responsibilities may change or be assigned as needed.
Core Competencies
Drive for Results (53) : Can be counted on to exceed goals successfully; Is constantly and consistently one of the top performers; Very bottom-line oriented; Steadfastly pushes self and others for results.
Action Oriented (1) : Enjoys working hard; Is action oriented and full of energy for the things he/she sees as challenging; Not fearful of acting with a minimum of planning; Seizes more opportunities than others.
Dealing with Ambiguity (2) : Can effectively cope with change; Can shift gears comfortably; Can decide and act without having the total picture; Isn't upset when things are up in the air; Doesn't have to finish things before moving on; Can comfortably handle risk and uncertainty.
Problem Solving (51) : Uses rigorous logic and methods to solve difficult problems with effective solutions; probes all fruitful sources for answers; can see hidden problems; is excellent at honest analysis; looks beyond the obvious and doesn’t stop at the first answers.
Process Management (52) : Good at figuring out the processes necessary to get things done; knows how to organize people and activities; understands how to separate and combine tasks into efficient flow; knows what to measure and how to measure it; can see opportunities for synergy and integration where others can’t; can simplify complex processes; gets more out of fewer resources.
Ethics and Values (22) : Adheres to an appropriate (for the setting) and effective set of core values and beliefs during both good and bad times; acts in line with those values; rewards the right values and disapproves of others; practices what he/she/them/they preaches.
Time Management (62) : Uses his/her/them/their time effectively and efficiently; values time; concentrates his/her efforts on the more important priorities; gets more done in less time than others; can attend to a broader range of activities.
Diversity, Equity, Inclusion & Belonging
RiverStone Resources, LLC is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, LGBTQ+, national origin, gender identity, disability, protected veteran status, or any other characteristic protected by law.
Company
The RiverStone Group is the preeminent insurance run-off manager in the world and is owned by Fairfax Financial Holdings Limited, a financial services holding company, publicly traded on the Toronto Stock Exchange under the symbol FFH.
RiverStone is a global insurance industry leader specializing in the acquisition and management of insurance portfolios. With highly skilled insurance specialists employed in the US and Europe (http://www.rsml.co.uk/), RiverStone has amassed unrivaled industry and regulatory experience, and is the recognized market leader in the resolution of complex insurance claims arising from APH (asbestos, environmental, and mass tort) construction defect, brown and blue water marine, workers compensation, and major bodily injury liabilities.
In addition to industry-defining experience with run-off management and consolidation, RiverStone, together with Fairfax, now brings to the market the capability to creatively finance substantial transactions so as to relieve customers of the continuing liability concerns, regulatory, and rating issues associated with discontinued or lagging businesses.
In short, RiverStone brings world class capabilities to the resolution of complex insurance and reinsurance portfolios throughout the world. RiverStone: World Class, World Wide.
- Website
- https://www.trg.com/join-us/
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