Insurance Operations Analyst

SAP, Genius, ProCede, Re-Insurance, P&C, Guidewire, Accounting, Underwrite, Contract
Contract W2, 6 Months
Depends on Experience
Work from home available

Job Description

Direct Client Requirement
Insurance Operations Analyst - Facultative Reinsurance
Contract Florham Park, NJ
We are seeking an experienced Insurance Operations Analyst - Facultative Reinsurance for our Florham Park, NJ office. The role will be responsible for monitoring the Facultative Reinsurance Operations Inbox and processing the contracts into the Reinsurance Sub Ledger Systems SAP-FSRI and Procede. The role will also be responsible for creating and sending monthly facultative validations to the underwriting assistants and underwriters. A successful candidate will be able to work both independently and as part of a closely-knit team as required. Candidates must also understand and be able to articulate the opportunities and rationale for leveraging technology to automate insurance and reinsurance business processes, where it makes sense. In addition, the successful candidate must have strong oral, writing and organizational skills, and effective interpersonal capabilities.
Core Responsibilities:

  • Responsible for monitoring the Facultative Reinsurance Operations Inbox
  • Receive facultative contract placements from underwriting and process them into the Reinsurance Sub Ledger System SAP-FSRI to satisfy the booking of the premium and loss criteria setup
  • Interpret contract wording from facultative reinsurance certificates, binders, slips, declarations, bordereaux's, and endorsements. Understand ceding hierarchy based upon the facultative reinsurance structure and layering provided by underwriting. In addition, interpret contract wording from the underline policy
  • Interpret facultative premium data to ensure proper allocation of facultative premium is recorded accurately in the Sub Ledger
  • Interpret loss data and how it attaches and cedes to the facultative reinsurance contract
  • Ensure accuracy of data, including coordination of reconciliation of the facultative results with the Ceded Re (Reinsurance Accounting) Department to confirm that the facultative reinsurance results agree to the terms of the facultative reinsurance agreements purchased by underwriting
  • Act as liaison between Underwriting and Ceded Re (Reinsurance Accounting) Department for facultative reinsurance questions and inquiries from reinsurers and brokers
  • Create & send Monthly FAC Validation to the underwriter assistants and underwriters
  • Work with internal and external auditors to complete yearly SOX control review
  • Maintain SOX control documentation including facultative certificate set-up documentation, facultative population completeness controls, and other FSRI input documentation
  • Provide facultative reports (QTD, YTD, and ITD) to Senior Management upon request
  • Work with internal and external departments, which include: Business Units, Ceded Re (Reinsurance Accounting) Dept, Claims Dept, IT, Operations, etc.
  • Test new product implementations and system changes. This includes development of system solutions, UAT, test documentation and monitoring implementation in production
  • Ad Hoc requests and projects, which include top priority booking requests, onboarding of new business lines, testing system upgrades, data enhancement, and process documentation
  • Review account statements from reinsurers and brokers

Qualifications:

  • Bachelor's Degree or related equivalent work experience
  • Knowledge of the following:
  • Admitted and Surplus Lines Rules and Regulations
  • Lines of Business: Property, Casualty, Transportation, Workers Compensation, Healthcare, Professional Lines, Cyber, Marine, Aviation
  • Minimum 5 - 10 year's experience in property and casualty insurance
  • 5 - 10 year's experience in facultative reinsurance Preferred
  • Excellent oral communication, written communication, and organizational skills
  • Strong understanding of both the underline insurance contract and the facultative reinsurance contract
  • Strong understanding of SOX and regulatory compliance
  • Self-starter, able to manage and prioritize your workload
  • Ability to think independently and work effectively as part of the Insurance Ops Team and FAC Ops Unit
  • Able to work in a fast-paced environment, often switching gears to support management objectives, as well as the ability to think intuitively
  • Candidate must have strong interpersonal skills and able to work well with other team members
  • Candidate must be flexible; team-oriented and have strong administrative skills that include ability to prioritize and multi-task
  • Proficient in Excel, Outlook, PowerPoint, Word
  • Working knowledge of SAP-FSRI, ProCede, Genius, Guidewire Policy Center, Policy Center Claims Center, WINS, and ImageRight Preferred

About us:

Since 2002, APN Consulting has been inspiring success in IT through meaningful connections between employers and candidates. We are trusted by a vast array of companies, from small enterprises to some of the world’s most trusted brands to present the best talent for their contract, contract to hire and full-time positions. To learn more, please visit us online at www.apnconsultinginc.com

Dice Id : 10123488
Position Id : 22-01185
Originally Posted : 1 month ago
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