Reinsurance Financial Associate113860Zurich 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 Associateposition key responsibilities are Facultative Loss reinsurancebooking and billing as well as accounting for facultative loss of business. The position also analyzesbasic 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 years of experience in the Reinsurance area
Preferred Qualifications:
Insurance industry experience
Knowledge of reinsurance contracts
Knowledge of reinsurance accounting
Knowledge of reinsurance claim recoverable process and link to direct claim processing
Intermediate level Microsoft Office skills experience (Excel, Word, Outlook, etc)
Compensation for roles at Zurich varies depending on a wide array of factors including but not limited to the specific office location, role, skill set, and level of experience. As required by local law, Zurich provides in good faith a reasonable range of compensation for roles. For additional information about our Total Rewards, click here. Other rewards may include short term incentive bonuses and merit increases. Candidates with salary expectations outside of the range are encouraged to apply, and will be considered based on experience, skill, and education. The salary provided is a nationwide market range and has not been adjusted for the applicable geographic differential associated with the location where the position may be filled. The starting salary range for this position is $53,200.00 - $85,600.00.As a condition of employment at Zurich, employees must adhere to any COVID-related health and safety protocols in place at that time ( https://www.zurichna.com/careers/faq ).A future with Zurich. What can go right when you apply at Zurich?Now is the time to move forward and make a difference. At Zurich, we want you to share your unique perspectives, experiences and ideas so we can grow and drive sustainable change together. As part of a leading global organization, Zurich North America has over 150 years of experience managing risk and supporting resilience. Today, Zurich North America is a leading provider of commercial property-casualty insurance solutions and a wide range of risk management products and services for businesses and individuals. We serve more than 25 industries, from agriculture to technology, and we insure 90% of the Fortune 500®. Our growth strategy is not limited to our business. As an employer, we strive to provide ongoing career development opportunities, and we foster an environment where voices are diverse, behaviors are inclusive, actions drive equity, and our people feel a sense of belonging. Be a part of the next evolution of the insurance industry. Join us in building a brighter future for our colleagues, our customers and the communities we serve. Zurich maintains a comprehensive employee benefits package for employees as well as eligible dependents and competitive compensation. Please clickhere (https://www.zurichna.com/careers) to learn more.As a global company, Zurich recognizes the diversity of our workforce as an asset. We recruit talented people from a variety of backgrounds with unique perspectives that are truly welcome here. Taken together, diversity and inclusion bring us closer to our common goal: exceeding our customers’ expectations. Zurich does not discriminate on the basis of age, race, ethnicity, color, religion, sex, sexual orientation, gender expression, national origin, disability, protected veteran status or any other legally protected status. EOE disability/vetZurich does not accept unsolicited resumes from search firms or employment agencies. Any unsolicited resume will become the property of Zurich American Insurance. If you are a preferred vendor, please use our Recruiting Agency Portal for resume submission.Location(s): AM - Schaumburg, AM - Remote Work (US)Remote Working: HybridSchedule: Full TimeEmployment Sponsorship Offered: NoLinkedin Recruiter Tag: #LI-MM1
Full-time