Reinsurance Financial Associate

Zurich North America is currently hiring a Reinsurance Financial Associate on the team responsible for the accounting and billing of facultative loss recoveries for Zurich’s Group Reinsurance function (a global function). This position will report to the Manager of the Facultative Loss Team. Qualified individuals in the Schaumburg area will be on a hybrid schedule reporting to the Schaumburg North America HQ. Qualified individuals outside of the Schaumburg area will be on a fully remote schedule. You will collaborate with your manager to set a schedule that supports you, your customers, and the team.

The Reinsurance Financial Associate position key responsibilities are Facultative Loss reinsurance booking and billing as well as accounting for facultative loss of business. The position also analyzes basic reinsurance contracts, identifies, and codes reinsurance, handles reinsurance claims of low complexity, performs basic to intermediate reinsurance accounting transactions and financial reporting ensuring compliance with terms and conditions of the reinsurance agreements and department standards.

Responsibilities:

• 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

• 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

• Reviewing reinsurance contracts and determining if reinsurance needs to be booked, coding claims, posting receivables

• Invoicing, attending collections calls, applying cash

• 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

• Responds to basic internal and external audit inquiries and supports on-site reinsurance audits.

• Documentation of procedures for assigned accounts and tasks

Basic Qualifications:

• Bachelor’s degree and no prior experience required in the Reinsurance area OR

• High School Diploma or Equivalent and 2 or more …