Zurich North America is currently seeking a detail-oriented Reinsurance Financial Associate to join our Assumed Reinsurance Team. The role involves ensuring accurate execution of assumed reinsurance transactions and partnering across finance, actuarial, underwriting, claims, and global reinsurance teams.
Responsibilities
- Handling assumed reinsurance premium & loss accounting, preparations of statements of accounts, settlements, collection of open balances, cash application in general ledger and subledgers, reconciliations and analysis for proper accounting and reporting, intercompany reconciliation (ICR) coordinating with Zurich Affiliates and Trading Partners
- Identify, calculate, record, report and settle premium and loss reinsurance in relation to contract terms and department standards. Includes handling and collection of reinsurance claims of basic to moderate complexity
- Reconcile basic to moderate detail reinsurance related activity, identify issues, coordinate resolution, and take corrective actions as directed. Update financial and underwriting and/or claim systems, accordingly
- General Ledger account reconciliations and reporting
- Preparation of reinsurance journal entries
- 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
- 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
- Responds to basic internal and external audit inquiries and supports on-site reinsurance audits
- Documentation of procedures for assigned accounts and tasks
Skills
- Bachelors Degree and No prior experience required in the Reinsurance area OR
- High School Diploma or Equivalent and 2 or more years of experience in the Reinsurance area
- Insurance industry experience
- Knowledge of reinsurance contracts
- Knowledge of reinsurance accounting
- Knowledge of reinsurance claim recoverable process and link to direct claim processing
- Prior experience to include a combination of accounting, reporting, insurance, reinsurance, and financial analysis
- Intermediate level Microsoft Office skills experience (Excel, Word, Outlook, etc)
- Technology experience related to one or more of the following areas: General ledger, financial reporting systems
- Strong verbal and written communication skills
- Ability to interact with the business unit and customers, utilizing strong interpersonal skills and communication skills
- Ability to work independently and interact effectively as part of a team
- Strong time management skills to timely deliver on competing priorities
Benefits
- Competitive pay
- Comprehensive benefits for employees and their families
- Short-term incentive bonus eligibility set at 10%
Company Overview
Zurich American Insurance is an international commercial property-casualty insurance provider. It is a sub-organization of Zurich Insurance Group. It was founded in 2016, and is headquartered in Schaumburg, Illinois, USA, with a workforce of 10001+ employees. Its website is https://www.zurichna.com.
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