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Zurich NA Reinsurance Financial Analyst in Schaumburg, Illinois

Reinsurance Financial Analyst


Zurich Services LLC (a division of Zurich North America) is currently hiring a Reinsurance Financial Analyst II on the Group Captives team and this person will report to a Reinsurance Financial Manager within Group Reinsurance. This person will work in our Schaumburg, IL North America Headquarters.

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 recoverables, $9 billion of assumed and ceded premiums and has the fiduciary responsibility for reinsurance collateral of approximately $15 billion.

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.The job entails preparations of statements, settlement, collection, 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 peer accounts

  • Communicate with managers, reinsurers, customers and representatives from other departments (e.g., Claims, Actuarial, Finance)

  • 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 areaOR

  • Zurich Certified Insurance Apprentice, including Associate Degree and 4 or more years of experience in the Reinsurance, Insurance or Finance areaOR

  • High School Diploma or Equivalent and 6 or more years of experience in the Reinsurance, Insurance or Finance areaAND

  • Microsoft Office experience

Preferred Qualifications:

  • Insurance industry experience

  • Knowledge of reinsurance contracts

  • Demonstrate team-oriented experience

  • Knowledge of AR/AP (accounts receivable /payable)

  • Knowledge of reinsurance claim recoverable process and link to direct claim processing

  • Intermediate level Microsoft Office skills experience

  • Advanced Excel skills – vlookups, pivot tables, merging data, exporting data, macros

  • Technology experience related to one or more of the following areas: General ledger, financial reporting systems and some knowledge of reconciliations.

  • Ability to multi-task, working on many projects

  • Strong verbal and written communication skills

  • Strong analytical and problem-solving 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 approximately 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

Schedule Full-time

Travel No

Job Posting 11/10/20

Unposting Date Ongoing

Req ID: 200006QF

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.