Job DescriptionAllied World is an ideal place for talented professionals who are driven by a belief in the value of collaboration and the power of knowledge.
We believe that when our great people work together and support one another, our clients receive the best solutions. We embrace unique perspectives and empower each person to grow through professional development, career training and mentoring programs.
Our people are our most important asset, and we are very proud of the quality of our team members.
The Reinsurance Analyst position is responsible for supporting and assisting department staff with the administrative processes of the Ceded Reinsurance department including reinsurance submission preparation, inputting reinsurance placements into systems, oversight of audits, tracking of contract wording, providing individual claim notification to reinsurers and perform treaty premium adjustments.
Job Duties:
- Support Ceded Re senior staff in working with Underwriting, Finance, Actuarial, and Claims to gather data to assist in reinsurance submission preparation
- Work closely with the VP Ceded Re in the London UK office on all aspects of the treaty placement process.
- Support individual facultative claims noticing and review facultative underwriting summary
- Assist with coordinating the availability of documents and timing for claims, underwriting, transactional, and Ceded Re audits as well as audits performed by external auditors.
- Assist in preparing individual claim notifications and invoices (no negotiation or settling of claims is permitted), and work with brokers and reinsurers to ensure receivable balances are collected.
- Assist with completing regulatory reporting requirements for multiple jurisdictions globally
- Assist the AVP, Operations Lead, Ceded Reinsurance with responsibilities including:
- Review treaty premium adjustments to ensure that amounts deposited are properly reconciled with amounts owed including adjustment true-ups for swing rate adjustments and sliding scale commission calculations.
- Work with Actuarial and Finance to assist with new product data/system set up.
- Coordinate and track execution of contract wordings to full completion and maintain electronic filing archive.
- Summarize treaty terms and schematics.
- Maintain reinsurance resume document that provides historical detail of terms treaties previously written.
- Assist in maintaining compliance with the tenets of the Sarbanes-Oxley Act.
Job Requirements:
- B.S. in Business, Math or related major preferred
- 2 to 5 years insurance or finance related experience
- Exceptional MS Office skills
- Excellent communication (both written and verbal) and interpersonal skills
- Strong attention to detail and quantitative skills
- Ability to work to deadlines and prioritize tasks
- Ability to work with various internal constituents, including underwriting, claims, actuarial, finance and IT departments
- Ability and willingness to work outside normal office hours and global travel as required
- Ability to deal with changing environment
- Exceptional organizational skills