• Job Description

  Req#: 421353
  The successful candidate will be part of a team that works closely with the Reinsurance Operations Supervisor to ensure that reinsurance contracts are properly administered and accounted for on an “end-to-end” basis. The Reinsurance Operations Analyst will learn the terms and conditions for assigned contracts, make premium payments, bill and collect reinsured losses, review system calculations, send account statements and calculate premium adjustments – all on a timely basis. Additional responsibilities include identifying process and internal control improvements, maintaining documentation in accordance with the Company’s policies and procedures, and assisting with miscellaneous related ad hoc projects.
  Responsibilities
  • Learn and understand ProSight’s business and reinsurance programs, including all relevant informational workflows
  • Learn and understand the insurance and reinsurance systems used to record and maintain data necessary for reinsurance-related operational activity, financial accounting, reporting, and analysis
  • Learn the pertinent terms and conditions for each assigned reinsurance contract
  • In coordination with the Reinsurance Procurement Team, set up the reinsurance contract and attachment criteria in the Company’s reinsurance system
  • Monitor and validate periodic reinsurance system calculations of reinsurance balances
  • Identify and remediate data or system issues affecting the accuracy of automated calculation of reinsurance balances
  • Quantify any necessary periodic financial statement adjustments related to reinsurance balances to support the monthly financial close
  • Analyze and explain periodic financial results for each assigned reinsurance contract
  • Prepare premium adjustments, account statements, and ceded loss notices/bills, including calculation of any reinstatement premium on a timely basis
  • Record and reconcile cash transactions (e.g., ceded premium payments, ceded loss collections, premium adjustments, etc.) on a timely basis
  • Follow-up on cash collections for ceded recoverable balances and prepare reinsurance premium payments
  • Ensure cash transactions are accurately applied in the reinsurance system
  • Effectively communicate with and respond to reinsurance brokers and/or reinsurers
  Qualifications
  • 1 - 3 years of relevant work experience in the insurance industry
  • Bachelor’s degree, preferably in a business-related field of study – Accounting a plus, but not required
  • Working knowledge and experience with various forms of reinsurance (e.g., XOL, Q/S, Facultative, etc.) is a plus
  • Familiarity with US GAAP & STAT insurance and reinsurance accounting and reporting
  • Advanced MS Excel skills and familiarity with MS Access, SQL, and other data analysis tools is a plus
  • Organized, clear, and effective verbal and written communication
  • Strong organizational and multi-tasking capabilities, with the flexibility to re-prioritize as needed

• About the company

  ProSight is a P&C insurance company that delivers specialized solutions to customers in niche markets through limited, exclusive distribution partners. ProSight was founded in 2009, with a focus on niche markets where we have differentiated underwriting and claims expertise.

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