Multinational Facultative Reinsurance Process Analyst

Job Title: Multinational Facultative Reinsurance Process AnalystStart Date: ImmediateType: Full-Time, PermanentSalary: Negotiable End Client: ConfidentialIndustry: Insurance / Re-InsuranceLocation: Manhattan, New York, United StatesWorkplace Type: On-siteTravel: NoMULTINATIONAL REINSURANCE EXPERIENCE REQUIREDJob Description:The successful candidate will function within the Reinsurance Operations team. We are looking for someone with a can-do attitude and desire to help build our business and processes within a team environment.The primary objective of the Multinational Facultative Reinsurance Operations Analyst (Analyst) is to serve as the subject matter expert (SME) of the end-to-end multinational facultative reinsurance booking workflow. The Analyst ensures the timely and accurate booking of multinational facultative reinsurance bookings. This includes the end-to-end quality review of all data elements, coding documentation, and reinsurance system results. This also includes participation in process improvement, data quality control, reporting initiatives and financial reconciliation activities.The Analyst will be responsible for the booking of complex facultative reinsurance agreements, execution of workflow exceptions, analysis, and remediation of incorrect facultative reinsurance bookings.The Facultative Reinsurance Process Analyst will collaborate with all units across the enterprise engaged in the processing and support of facultative reinsurance. This role must effectively work with our Multinational Program Management, Local Branch & Home Office Underwriting, Operations, Claims, Reinsurance Accounting, Reinsurance Services, Technology, Reinsurance Counterparties (i.e., Direct Reinsurers & Intermediaries.) This role will assist with the implementation and oversight of process flow quality controls & compliance and multinational facultative reinsurance booking reporting requirements.The duties and responsibilities of the position include:Job Duties / Responsibilities: The quality assurance review and booking of assigned multinational facultative reinsurance agreements. The Analyst will ensure that the agreement and premium booking layoff information are correct. This will pertain to complex multinational programs of work that may involve difficult premium booking requirements. Exception handling of complex facultative reinsurance agreements that require exception processing outside the standard reinsurance workflow.Confirm and validate multiple foreign currency values and conversion from original currency to U.S. dollar. Verify appropriate assumed, ceded, and retrocessions feed correctly from end to end (i.e., Direct Premium Underwriting System to Facultative Reinsurance Booking System).The daily review and completion of facultative reinsurance premium booking transactions in our ReinsurancePro Reinsurance System. Quality review of the facultative reinsurance premium booking data and documentation to ensure submissions are completed accurately, within our reinsurance guidelines and service level agreements.Collaborate with appropriate reinsurance resources (i.e., Underwriting, Reinsurance, Accounting, Operations, IT, etc.) to report and provide resolution to issues preventing the accurate and prompt completion of facultative reinsurance premium booking transactions.Produce and distribute recurring quality control reports to ensure that facultative reinsurance tasks, data and documentation are compliant with reinsurance guidelines, service level agreements, and our Reinsurance systems (i.e., eReinsure, ReinsurancePro, etc.) requirements.Maintain work tracking system to provide up to date and accurate metrics on facultative reinsurance submission premium booking activity.Provide recurring status reports on facultative reinsurance premium booking activity.Assist our other Reinsurance functions (i.e., Multinational Underwriting, Accounting, Credit, IT, Legal, & Services) to remediate facultative reinsurance coding and data quality issues.Effective Communication and Team CollaborationTranslate facultative reinsurance processing activities and objectives in a manner appropriate for various audiences and stakeholders during 1-on-1 interactions, meetings and/or conference calls.Identify and escalate issues appropriately and provide timely progress updates. Ensure issues are identified, tracked, reported on and resolved in a timely manner. Monitor project progress by tracking activity; resolving problems. Apply lessons learned to each succeeding project.Collaborate with Reinsurance Operations team members to conduct peer reviews of facultative reinsurance transactions generated by other team members and provide constructive feedback in meetings or written form when required.Follow departmental workflow processes and work in a transparent manner.Assist with identification of new process improvement opportunities to the facultative reinsurance workflow and systems; support the software development life cycle for process improvement initiatives (i.e., Business Requirements, User Acceptance Testing, etc.).Participate in testing efforts when new functionality (i.e., enhancements and corrections) are developed.Completion of ad-hoc tasks and projects.Skills/Experience Required:Bachelor's degree preferably in business-related field of study.3+ Years of experience in insurance & reinsurance industry.Strong knowledge and experience with multinational reinsurance including treaty and facultative.Hands-on experience working with groups to analyze, define and develop business requirements and workflow processes, including IT related requirements.Experience working with underwriting, reinsurance and claims platforms and software.Experience with reinsurance systems.Attention to detail; report issues encountered in processing but also lead resolution effort.High level of self-management; independent worker with analytical skills that can contribute to multiple projects.Leadership skills with the ability to manage and coordinate teams.Strong interpersonal and collaborative skills; collaborate across groups & functions in a fast-paced setting.Effective presentation skills; strong verbal communications skills and strong writing ability.Beneficial to have knowledge and proficiency with RiPro (Sapiens)Proficiency with Microsoft Office Suites (i.e., Microsoft Excel, PowerPoint, Word).CPCU and / or ARe designations preferred but not required.

Created: 2024-11-01