Reinsurance Analyst Job Description
Reinsurance Analyst Duties & Responsibilities
To write an effective reinsurance analyst job description, begin by listing detailed duties, responsibilities and expectations. We have included reinsurance analyst job description templates that you can modify and use.
Sample responsibilities for this position include:
Reinsurance Analyst Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Reinsurance Analyst
List any licenses or certifications required by the position: CAS
Education for Reinsurance Analyst
Typically a job would require a certain level of education.
Employers hiring for the reinsurance analyst job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Finance, Accounting, Economics, Business, Mathematics, Statistics, Education, Actuarial Science, Engineering, Management
Skills for Reinsurance Analyst
Desired skills for reinsurance analyst include:
Desired experience for reinsurance analyst includes:
Reinsurance Analyst Examples
Reinsurance Analyst Job Description
- Helping automate and secure the Property Reinsurance Process
- Counterparty Risk in Property CAT Reinsurance
- Managing claims arising under assumed reinsurance contracts, both treaty and facultative, with particular emphasis on excess / umbrella standard casualty, various professional liability lines of business
- Perform monthly, quarterly, annual financial close process for structured reinsurance entities such as treaty settlement and reconciliations
- Provide support on feasibility studies, reinsurance settlement calculations, and financial impact attribution as required
- Optimize operational efficiency of reinsurance administration through the development and use of tools and systems
- Support financial analysis of reinsurance entities with data validation and reconciliations
- Know how to research topical subjects, such as ACA changes, , and keep the team informed on updates/changes
- Support analysis of client data through review of trends found in client’s large datasets
- Participate in the design of a Common Platform for the Data Management of Annuity business
- Known for the quality of his/her work product, minutia and rigor
- Analytical mindset, team spirit, innovative
- Prior experience working with stochastic simulation software (Igloo, MetaRisk) and/or catastrophe modelling software (RMS, AIR, EQECAT) an asset
- Work within a dynamic environment where you are encouraged to aid in process improvement and work with autonomy
- Maintain and develop internal relationships
- Resolve internal and external queries in a professional manner
Reinsurance Analyst Job Description
- Participate in the implementation of new reinsurance treaties and treaty amendments as needed
- Provide end to end thought leadership for the monthly reinsurance administration billing process
- Lead the claim recovery process from 3rd party Reinsurance companies within strict business and SOX control governance to ensure all paid/unpaid recoveries are accurately reflected in the general ledger
- Reconcile monthly reports with membership data and payments
- Take proactive steps to identify project critical path
- Identifies gaps and process improvement
- Triages and troubleshoots user-reported system defects
- May assist management in the quarterly and annual evaluation of team members
- Prepares and presents detailed business cases for review by management and corporate steering committees
- Develops standards and protocols for project deliverables of all departmental team activities to ensure quality and timely delivery of documents
- Leads efforts to evaluate the acquisition of 3rd party software
- Minimum five years analytical and data processing experience with experience on large-scale business analysis or development projects and proven leadership abilities
- Possess an understanding of health industry data elements, and understanding of how elements are used within departmental processes
- Strong understanding of regulatory requirements essential to supported functional area
- Possess a very high level of subject matter expertise in a functional area, which may require expertise in benefits, claims adjudication, provider or employer contract administration, member and provider demographic management, and/or call center administration
- Ability to conceptualize, and design new methods for practical application
Reinsurance Analyst Job Description
- May handle/calculate reinsurance claims for a variety of reinsurance contracts and provisions (i.e., XOL, Q/S, expenses, ) of low complexity
- May ensure accurate entries on the monthly Activity reports and identifies and codes reinsurance
- Supporting the XL Catlin Reinsurance Operations/Underwriting functions in general risk administration tasks
- The Senior Analyst will work with broker team, analytics team, and other team members (technology, financial) to identify client needs and develop additional opportunities related to products and services
- The Senior Analyst will assist in coordinating analysis priorities with appropriate broker teams
- Present results of analyses to brokers, clients and subscribers
- The Senior Analyst coordinates with other team members to ensure clients’ needs are being met and resources are not overlapping or contradicting
- Responsible and accountable for quality and accuracy of all analyses on the team
- Construct and update exhibits to support actuarial studies
- Conduct various ad hoc analyses requiring financial modeling skills
- Ability to train lower level staff or new hires on job duties
- Position may require understanding of relational databases
- 2 to 5 years of experience in a Property and Casualty actuarial role as a Senior Analyst
- Dynamic Financial Analysis or Economic Capital Modeling experience a plus
- 2 to 5 Actuarial Exams completed and passed
- Ability to identify and resolve problems, think creatively, strategically and analytically
Reinsurance Analyst Job Description
- Performing technical analysis (claims administration duties for assigned Reinsurance clients following Global Reinsurance Claims Guidelines, processes and best practices)
- In-depth training in reinsurance and reinsurance accounting
- Perform monthly and quarterly reinsurance administration activities such as treaty settlement, monitoring and result review and reconciliations
- Communicate with reinsurance administration and internal clients for proper treaty administration
- Works closely with the reinsurance administration group and management to ensure accuracy of the business analysis
- Provides statistics and Impacts as it relates to Reinsurance Administration
- Death claim processing in BHF reinsurance systems
- Coordination of Life & Health client portfolio
- Daily communication and business correspondence with internal and external clients
- Financial settlement of claims and triage of claim related documents
- Strong ability to understand and perform mathematical and statistical calculations
- Extensive knowledge of MS Office suite of products
- Programming / Database / SQL abilities a plus
- Strong analytical skills and lively curiosity, while maintaining close attention to detail and accuracy
- Good communication skills to explain analytical assumptions, methodologies and results to technical and non-technical audiences
- Ability to perform analytical work both independently and collaboratively as a project team member or leader
Reinsurance Analyst Job Description
- Working with Accounting on reinsurance account reconciliations, year-end Schedule F reporting
- Obtaining the Associate in Reinsurance designation and/or any other applicable credentials
- Coordination of US Life & Health client portfolio
- End-to-End handling of Statements of Accounts
- Coordination of international client portfolio
- Business correspondence with internal and external clients
- Leads the project team for the preparation of the CGRC annual statutory filing as required by the Bermuda Monetary Authority
- Initiating and conducting claim audits, including direct interaction with brokers and clients, and performing critical assessments of our clients’ operations and individual claim files
- Estimate, manage and deliver individual BA workstreams and deliverables
- Calculate premiums, expense allowances, claim accruals, cash settlements, and other activities as required for the monthly financial closing process
- Java experience a plus, but not required
- Knowledge of asbestos, pollution, and other toxic tort claim adjustment practices preferred, but not required
- In close liaison with the lead broker and internal actuaries, assist in the development and production of both risk exposure and historical claims data for presentation to clients and reinsurers
- Conduct in-depth account analysis including profiling of risk exposures to develop broking testimonies
- Ensure accuracy and efficacy of information, including risk data cleansing and risk aggregation
- Quotation analysis including review of structures and reinsurance rates