Reinsurance Analyst – Operations

Job title:

Reinsurance Analyst – Operations

Company

SCOR

Job description

Job Description:This position is a part of the Administration team in the Operations Department. Strong analytical and organizational skills are needed along with life reinsurance/insurance expertise. The incumbent’s primary responsibility will be managing the assigned cedents from inception of client information up to the accounting by performing data analysis,validation of transactions, claim payments, premiums allocations, retrocessions, data monitoring, research and resolution of client and data issues. This role also includes technical tasks such uploading files, communication to clients and manual entries in the system, feeding OMEGA with the annual projections based on quarterly data. The Reinsurance Analyst role requires technical and analytical skills. It also requires the capacity to work under pressure and to deliver work within the required deadlines. A transparent and regular communication with all stakeholders is very important.Responsibilities:

• Perform various analyses (risk accumulation, treaty clauses, transactions, client data).
• Record the accounting transactions in the system.
• Invoice premiums and pay claims to retrocessionaires in accordance with operating standards and treaties.
• Ensure compliance with and document internal controls.
• Detect abnormal fluctuations, identify problems, make recommendations, and communicate problems.
• Develop guidelines for transforming customer data into a standard format tailored to each customer’s specifics.
• Test system guidelines and client data quality.
• Validate that treaty clauses are respected.
• Interact with claims, underwriting, actuarial, finance and other areas of the division to ensure accounts are properly established and administered.
• Perform receipt and claims settlement in Omega.
• Manage reports and reconciliation and send payment notification letters to clients.
• Perform analytic review of technical accounts regularly to detect issues in preparation for quarterly closing.
• Monitor aging of receipt settlement and clear backlog in a timely manner.
• Prepare reconciliation reports for claims, premiums, commissions and other technical reports.
• Book and review the estimates in Omega on a quarterly basis and analyze variations between actuals and estimations.
• Collaborate with various stakeholders to validate the accruals and estimations.
• Participate in ongoing process improvement efforts – identify opportunities to increase operational efficiency.

Qualifications:

• University degree or college diploma in business administration, general accounting, or a related field is desirable.
• 3+ Years of experience in a similar position
• Reinsurance/ insurance, product knowledge is a strong requirement
• Attention to detail, Strong analytical, research and problem-solving skills
• Ability to work under pressure and to deliver work within deadlines.
• Ability to clarify discrepancies and coordinate financial reconciliations.
• Ability to investigate and work with stakeholders to resolve data related issues
• Strong communication, collaboration, organizational and time management skills.
• Ability to work independently and solve problem effectively with minimal supervision.
• Knowledge of Windows, MS Office, with proficiency in Excel required.
• Proficiency with Business Object and MS Access are desirable.
• Technical aptitude and ability to learn quickly using many tools.

Hybrid Work Policy: SCOR is committed to an “in-office” culture where people can collaborate, exchange ideas, and establish stronger working relationships while still providing flexibility. To support employee work-life balance and increase opportunities for employees to excel every day, SCOR operates with a hybrid working arrangement. SCOR employees work 3 days per week in an office with the flexibility to work 2 days per week remotely.SCOR welcomes and encourages applications from people with disabilities. Accommodations are available on request for candidates taking part in all aspects of the selection process.About Us:As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk,” SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide.Working at SCOR means engaging with some of the best minds in the industry – actuaries, data scientists, underwriters, risk modelers, engineers, and many others – as we work together to find solutions to pressing challenges facing societies.As an international company, our common culture is defined by “The SCOR Way.” Serving both to build momentum that drives the Group forward and as a compass to guide our actions and choices, The SCOR Way is anchored by five core values, reflecting the input of employees at all levels of the Group. We care about clients, people, and societies. We perform with integrity. We act with courage. We encourage open minds. And we thrive through collaboration.

Expected salary

Location

Toronto, ON

Job date

Wed, 05 Feb 2025 08:11:31 GMT

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