Reinsurance CTS Accountant II

POSITION SUMMARY:

The Reinsurance CTS (Client Technical Services) Accountant-II will professionally and efficiently service reinsurance accounting and claims activity on behalf of ceding companies, program managers, and reinsurers within compliance of laws, regulations and policies, with sufficient transparency and appropriate internal controls to ensure the resources are efficiently applied to meet organizational goals and objectives.

This individual will act as a liaison by interacting with and aiding external clients and reinsurers and also providing assistance to internal clients and corporate accounting.

This position may have supervisory responsibilities.

RESPONSIBILITIES:

• Processes reinsurance accounting functions for assigned accounts including premium and claims reports
• Provides back up coverage for reinsurance accounting functions on assigned accounts and as needed
• Understands reinsurance contract terms and verifies premiums and claims are transacted accordingly
• Identifies key contract terms and input into the accounting and claims system. Identifies and resolves differences
• Monitors contractual reporting and payment due dates and requests premiums and reporting from clients to ensure timely receipt
• Reviews client accounts and adjustment calculations for accuracy and compliance with contract terms
• Enters and approves premium and claims transactions in Accounting/Claims system
• Assists insurance companies with all aspects of reinsurance transactions including preparing reports, performing required calculations, answering questions regarding contract terms and assisting clients with calculation of their Schedule F funding requirements and obtain Letters of Credit from reinsurers, ensuring that all beneficiary requirements are met and documents are received prior to deadlines
• Monitors and reconcile ledger balances
• Compiles and monitors premium and claim history
• Coordinates payments between insurance companies and reinsurers
• Reviews receivable and payable reports to ensure no out of pocket situations arise
• Receives initial loss notices, loss status updates and proofs of loss from clients and forward to applicable reinsurers
• Reviews and analyzes claim documentation, confirming coverage under treaty; Identifies key treaty terms such as retention & limit, LAE treatment, loss reporting requirements, loss attachment basis, etc.
• Reviews and prepares loss calculations to ensure accuracy and compliance with terms of treaty
• Assists in claim dispute resolution and facilitates recoveries
• Assists in claim audits, as needed, in obtaining the information necessary for audit
• Reviews open claim status reporting to ensure claims are being settled within terms of treaty
• Assists in collecting aged balances and processing open cash receipts
• Communicates effectively with internal sales staff and corporate on any unusual accounting or claims situations
• Performs other activities, duties and assignments as needed or requested