Zurich NA Reinsurance Financial Analyst II in Schaumburg, Illinois
Reinsurance Financial Analyst II
Zurich is currently looking for a Reinsurance Financial Analyst II to work out of our North American head-quarters in Schaumburg, Illinois.
The Reinsurance Financial Analyst II 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.
This reinsurance accounting position is within Zurich's Group Reinsurance (Group Re) function; a global function within Zurich's General Insurance segment. The North American Reinsurance Finance function manages reinsurance recoverables in excess of $ 21 billion, is responsible for the proper annual accounting and settlement of approximately $ 11 billion of assumed and ceded premiums and has the fiduciary responsibility for reinsurance collateral of approximately $ 19 billion.
The position reports to the Reinsurance Financial Manager for the Global Energy and Reporting teams.
Additional responsibilities include:
Preparing ledger entries
Preparing premium/loss account statements in accordance with contract terms
Identify, calculate and record reinsurance recoverables for a variety of reinsurance contracts
Reconcile basic detail reinsurance related activity, identifying issues and taking corrective action
Perform accounts receivable and payable related functions
Prepare analysis to support financial reporting
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 as prescribed by department standards
Provide ongoing work flow status, risk assessment, and issue insight to Group Reinsurance management and internal and external stakeholders
Assist with year-end financial regulatory filings, management reporting, and audit matters
Assist with processing, monitoring, and analysis of collateral instruments
Client Externally Focused - The job’s core deliverables rely on delivering service to external clients and/or customers. Typically involves building relationships and promoting the company.
Bachelor’s Degree and 4 or more years of experience in the Reinsurance areaOR
High School Diploma or Equivalent and 6 or more years of experience in the Reinsurance area
Insurance industry experience
Intermediate knowledge of reinsurance contracts
Intermediate knowledge of reinsurance claim recoverable process and link to direct claim processing
Basic understanding of accounting and financial statements (Income Statement and Balance Sheet)
Intermediate Microsoft Office skills
Technology experience related to one or more of the following areas: General ledger, financial reporting systems, Business Objects or other query tools
Strong verbal and written communication skills
Imagine working for a company that truly cares about their employees, customers, stakeholders, and communities they serve.
Imagine working for a values-driven organization that has the ambition and desire to be the best global insurance provider in the world.
Zurich is that place where 55,000 employees across 200 countries and territories are all focused on helping people and helping companies protect what is truly most important to them. We are a values-driven organization that takes pride in the work that we do every day and we have the ambition to be the best global insurer in the world.
EOE Disability / Vets
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.
Primary Location: United States-Illinois-Schaumburg
Relocation Available No
Job Posting 07/25/18
Unposting Date Ongoing
Req ID: 180005HM
It is the Policy of Zurich in North America, as an equal opportunity employer, to attract and retain the best-qualified individuals available, without regard to race/ethnicity, color, religion, gender expression, genetic information, national origin, sex, gender identity, sexual orientation, marital status, age, disability or protected veteran status.