Reinsurance Financial Analyst II
Zurich Insurance
Remote
reinsurance
financial
financial analyst
analyst
reinsurance
insurance
financial
north america
america
accounting
data
finance
financial analyst
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October 2, 2022
Zurich Insurance
Schaumburg, Illinois
FULL_TIME
Zurich North America is currently hiring a Reinsurance Financial Analyst II on the Assumed Team. This position will report to a Reinsurance Financial Supervisor within Group Reinsurance department and is based out of our Schaumburg, IL North America Headquarters or can be remotely.
This position is within Zurich's Group Reinsurance (Group Re) function, a global function. The North American Group Reinsurance hub function manages $18 billion in reinsurance recoverable, $9 billion of assumed and ceded premiums and has the fiduciary responsibility for reinsurance collateral of approximately $15 billion.
The Reinsurance Financial Analyst II position is responsible for Assumed International Premium/Loss accounting, Intercompany Reconciliation with Zurich affiliates, General Ledger account reconciliation and Central Premium Collection (CPC) support. The position also analyzes and performs intermediate to complex reinsurance accounting transactions and financial reporting ensuring compliance with terms and conditions of the reinsurance agreements and department standards. Responsibilities include preparations of statements of account, settlements, collection of open balances, cash application in the subledgers, reconciliations and analysis for proper accounting and reporting.
Additional responsibilities include:
- Identify, calculate, record, report and settle premium and loss reinsurance in relation to contract terms and department standards. May include handling and collection of reinsurance claims of moderate to high complexity
- Reconcile complex 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
- Provide training and oversight review for account and processing responsibilities assigned to junior peer accounts
- Lead relationship and communication with internal Zurich business partners and external reinsurance customers within area of responsibility, including timely response to all external inquiries a prescribed by department standards
- Provide ongoing work-flow status, risk assessment and issue insight to Group Reinsurance management and internal and external stakeholders
Basic Qualifications:
- Bachelor’s Degree and 4 or more years of experience in the Reinsurance, Insurance or Finance area OR
- Zurich Certified Insurance Apprentice, including Associate Degree and 4 or more years of experience in the Reinsurance, Insurance or Finance area OR
- High School Diploma or Equivalent and 6 or more years of experience in the Reinsurance, Insurance or Finance area AND
- Microsoft Office experience
Preferred Qualifications:
- Insurance industry experience
- Knowledge of reinsurance contracts
- Demonstrate team-oriented experience
- Knowledge of AR/AP (accounts receivable /payable), as well as account reconciliation
- Knowledge of reinsurance claim recoverable process and link to direct claim processing
- Intermediate level Microsoft Office skills experience
- Excel skills – vlookups, pivot tables, merging data, exporting data, macros
- Technology experience related to one or more of the following areas: General ledger (SAP), financial reporting systems (Fiori) and knowledge of reconciliation process utilizing Blackline.
- Ability to multi-task, working on various projects
- Strong verbal and written communication skills
- Strong analytical and problem-solving skills
As a condition of employment at Zurich, employees must adhere to our COVID-related health and safety protocols (https://www.zurichna.com/careers/faq), including, without limitation, a requirement that employees attest as to their vaccination status with a YES/NO, and upload proof of vaccination status, or a negative COVID test result when applicable, to a third-party vendor. These protocols are continuously re-evaluated and the requirements may change at any time.
A future with Zurich. What can go right when you apply at Zurich?
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 click here 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/vet
Zurich 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: Yes
Schedule: Full Time
Linkedin Recruiter Tag: #LI-MG1
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/vet
Zurich 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: Yes
Schedule: Full Time
Linkedin Recruiter Tag: #LI-MG1
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