Reinsurance Financial Analyst

Reinsurance Financial Analyst

Zurich North America is currently hiring a Reinsurance Financial Analyst reporting to the Reinsurance Financial Supervisor on the Reinsurance CoE team.

The ideal candidate can work in Schaumburg, IL, Philadelphia, PA, or remotely.

This position analyzes and performs intermediate to complex reinsurance transactions and financial reporting ensuring compliance with terms and conditions of the reinsurance agreements and department standards. Responsibilities for training and oversight reviews of peer and vendor assigned transactional processing.

Key Accountabilities:

• 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.
• Provide training and oversight review for account and processing responsibilities assigned to outsourced vendor and peer accounts.
• Communicate with supervisors, reinsurers, customers and representatives from other departments (e.g., Claims, Actuarial, Finance).
• Ensure timely, accurate, and complete calculations, recording, reporting and billing of reinsurance losses and/or premium, in accordance with contract terms and department standards.
• Pursue open recoverables in a timely and professional manner.
• Ensure established policy, procedures and operating standards are being met for all assigned responsibilities.
• Lead relationship and communication with internal Zurich business partners and external reinsurance customers within area of responsibility, including timely response to all external inquiries as prescribed by department standards.
• Provide ongoing work flow status, risk assessment, and issue insight to Group Reinsurance management and internal and external stakeholders.

Additional Job Functions

• May file corporate financial results utilizing Finance Integrated Platform software.
• May participate in inter-department group teams on moderately complex projects and/or process improvement efforts.
• Identify and implement desk level process improvement opportunities.
• Understand relationship between assigned work flows, key control elements, and administration of governance function across the departmental and/or team process flow.

Business Accountabilities

• Monitor and review financial information to ensure management has the most up to date information; this may involve preparing management packs in relation to large losses/catastrophic events or collaborating with Reinsurance Pricing/Analytics to ensure Monthly Hard Close.
• Regular monitoring and reporting to reinsurance managers of reinsurance business tracking/testing requirements to enable initiatives which improve Reinsurance Financial Analysis performance to be successful.
• Undertake investigations and inspections of data, process and practice in accordance with Zurich Risk Policy and Zurich Basics to identify potential or actual compliance issues and recommend appropriate action.
• Independently monitor and analyze data according to pre-determined tools, methods and formats and initiate the appropriate action to support Reinsurance Financial Analysis plans.
• Assess and evaluate reinsurance technical support work in order to identify opportunities for improvement.
• Review and interpret information and advise internal clients of appropriate action to fulfill procedural and regulatory requirements.

Performance Management Accountabilities

• Model behaviors that demonstrate commitment to corporate values.
• Provide input into performance management discussions of project team members.
• Educate team members and business partners on area of technical expertise.
• Provide guidance and support for team members.
• Take action to manage own personal development and encourage others to do the same.

Basic Qualifications

• 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

Preferred Qualifications

• 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

Compensation for roles at Zurich varies depending on a wide array of factors including but not limited to the specific office location, role, skill set, and level of experience. As required by local law, Zurich provides in good faith a reasonable range of compensation for roles. For additional information about our Total Rewards, click here. Other rewards may include short term incentive bonuses and merit increases. Candidates with salary expectations outside of the range are encouraged to apply, and will be considered based on experience, skill, and education. The salary provided is a nationwide market range and has not been adjusted for the applicable geographic differential associated with the location where the position may be filled. The starting salary range for this position is $63,300.00 - $103,700.00.

As a condition of employment at Zurich, employees must adhere to any COVID-related health and safety protocols in place at that time (https://www.zurichna.com/careers/faq).

A future with Zurich. What can go right when you apply at Zurich?

Now is the time to move forward and make a difference. At Zurich, we want you to share your unique perspectives, experiences and ideas so we can grow and drive sustainable change together. As part of a leading global organization, Zurich North America has over 150 years of experience managing risk and supporting resilience. Today, Zurich North America is a leading provider of commercial property-casualty insurance solutions and a wide range of risk management products and services for businesses and individuals. We serve more than 25 industries, from agriculture to technology, and we insure 90% of the Fortune 500®. Our growth strategy is not limited to our business. As an employer, we strive to provide ongoing career development opportunities, and we foster an environment where voices are diverse, behaviors are inclusive, actions drive equity, and our people feel a sense of belonging. Be a part of the next evolution of the insurance industry. Join us in building a brighter future for our colleagues, our customers and the communities we serve. Zurich maintains a comprehensive employee benefits package for employees as well as eligible dependents and competitive compensation. Please click here to learn more.

As a global company, Zurich recognizes the diversity of our workforce as an asset. We recruit talented people from a variety of backgrounds with unique perspectives that are truly welcome here. Taken together, diversity and inclusion bring us closer to our common goal: exceeding our customers’ expectations. Zurich does not discriminate on the basis of age, race, ethnicity, color, religion, sex, sexual orientation, gender expression, national origin, disability, protected veteran status or any other legally protected status. EOE disability/vet

Zurich does not accept unsolicited resumes from search firms or employment agencies. Any unsolicited resume will become the property of Zurich American Insurance. If you are a preferred vendor, please use our Recruiting Agency Portal for resume submission.

Location(s): AM - Schaumburg, AM - Philadelphia, AM - Remote Work (US)

Remote Working: Yes

Schedule: Full Time

Employment Sponsorship Offered: No

Linkedin Recruiter Tag: #LI-AK1 #LI-ASSOCIATE #LI-REMOTE

Nearest Major Market: Chicago