Reinsurance Operations & Accounting

Reinsurance Operations  & Reinsurance Accounting

Experience - 4 - 10 Years 
Location - Noida

Shift - US

Managing ceded reinsurance operations task from Setting up treaty and FAC contracts in RI system, premium & claims, calculation of Profit/Sliding Scale Commissions, Reinstatement premium, Premium adjustments, Premium and claims cession management, bordereaux, billings & collections, treaty and FAC payments and cash application 

This role requires the person to handle reinsurance contract life cycle from contract set-up to broker/reinsurer statements & billings & collections 

Responsibility

Managing ceded reinsurance operations task from Setting up treaty and FAC contracts in RI system, premium & claims, calculation of Profit/Sliding Scale Commissions, Reinstatement premium, Premium adjustments, Premium and claims cession management, bordereaux, billings & collections, treaty and FAC payments and cash application 

Qualifications

Bachelor degree 4-10 years of experience in Reinsurance Operations 

Reinsurance Operations 

Work Experience Requirements 

Primary Responsibility:   

• Complete Operation Management for Reinsurance processes 
• Timely and accurate delivery of daily, monthly and periodic processing of client requirements 
• Supports the team as a Reinsurance SME in day to day operations 
• Driving quality initiatives and transformation ideas 
• Drive and Measure robust process controls in the process  
• Lead a team of 8 – 15 Analyst / Sr Analyst 
• Manage level 2 escalations 
• SLA / Dashboard reporting 

Technical Skills :  

• Strong knowledge of ceded reinsurance  
• Excellent analytical skill 
• MS Excel and other office tools 
• Knowledge of Genius / URS preferred 

Primary Internal Interactions 

• Team members for day to day operations support, queries, knowledge support 
• Sr/Manager/Sr. AVP for the purpose of reporting performance, escalation handling, clarifying concerns, seeking support and monthly evaluation of performance 
• PE team for any data requirements for process performance 
• Internal stakeholders like, compliance, training teams, HR, transformation team 
• Internal auditors for process audits 

Primary External Interactions 

• Onshore teams for routine day to day tasks 
• Auditors for the purpose of getting Audit Requirements & supplying adequate documents 
• Trainers, SMEs and Operations for the purpose of developing and updating training curriculum, provide feedback on training and discussing specific action plans 
• Escalations team at client end for the purpose of seeking clarifications & answering queries 

Education Requirements 

• Bachelor’s degree or Post Graduate in Accounting/ MBA (Finance) 
• Insurance/Reinsurance certifications preferred