Captive Reinsurance Services Associate

  • 33931
  • Non-Life - Underwriting
  • |
  • Ontario, Canada
  • |
  • Jul 20, 2018
  • Analyzes basic reinsurance contracts.
  • Identifies and codes reinsurance.
  • Ensures timely, accurate, and complete calculations, recording, reporting and billing in accordance with contract terms and department standards.
  • Provides support and assistance in updating reinsurance systems and information regarding reinsurance placements.
  • Reconciles basic detail reinsurance related activity, identify issues, coordinate resolution and take corrective actions.
  • Reconciles the premium or loss sub-ledger and provides management reports.
  • Prepares and analyze basic internal and external reinsurance reports, expense budgets, key performance indicators, or scorecards.
  • Communicates with supervisors, reinsurers, customers, captives and representatives from other departments.
  • Responds to reinsurer inquiries within Best Practices and department standards.
  • Assists and supports vendors.
  • Participates in inter-department group teams on basic projects.
  • May handle reinsurance claims of low complexity.
  • Calculates reinsurance recoverables for a variety of reinsurance contracts and provisions.
  • Pursues open recoverables in a timely and professional matter.
  • Responds to basic internal and external audit inquiries, and supports on-site reinsurance audits.
  • Collaborates with the team to ensure that accounting processes and procedures are followed and completed to support and reinforce key business objectives.
  • Provides support for various types of general and/or sub-ledger transactions relevant for Group reporting as well and local Globally Accepted Accounting Principles reporting.
  • Performs close related ledger tasks, e.g. accruals, provisions, journals postings.
  • Prepares accounts reconciliations on timely basis in accordance with Group Internal control guidelines.
  • Bachelor’s 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.
  • Preferred Qualifications:
  • Insurance industry experience.
  • Knowledge of reinsurance contracts.
  • Knowledge of reinsurance claim recoverable process and link to direct claim processing.
  • Intermediate level Microsoft Office skills experience with emphasis on Excel.
  • Technology experience related to one or more of the following areas: General ledger, financial reporting systems.
  • Strong verbal and written communication skills.