Reinsurance Analyst Job Description

Reinsurance Analyst Job Description

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Reinsurance analyst provides support on ceded reinsurance programs including collaboration and production of ceded premium and loss accounting, reinsurance premium and loss allocation, reinsurance receipt and disbursement processes.

Reinsurance Analyst Duties & Responsibilities

To write an effective reinsurance analyst job description, begin by listing detailed duties, responsibilities and expectations. We have included reinsurance analyst job description templates that you can modify and use.

Sample responsibilities for this position include:

Create reports that support the inforce management of annuity reinsurance
Develop processes and procedures for annuity reinsurance administration
Input and analyze annuity reinsurance data
Assist in actuarial projections of asbestos, environmental and reinsurance claim liabilities
Modelling a dynamic approach to define the Currency Exchange Rates of property reinsurance treaties within the Internal Model
Enhancing the reliability of the Property Reinsurance Module of the Internal Model
Helping automate the Property Reinsurance Process
Modelling dynamic reinsurance premiums by capturing Estimated Gross Written Premium Income (GNPI) fluctuation (vs Flat premiums)
Work with Analytical teams (CMS, Actuarial, Financial Services, ) as needed
Work with Contracts department to update Contracts, Clauses, as needed

Reinsurance Analyst Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Reinsurance Analyst

List any licenses or certifications required by the position: CAS

Education for Reinsurance Analyst

Typically a job would require a certain level of education.

Employers hiring for the reinsurance analyst job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Finance, Accounting, Economics, Business, Mathematics, Statistics, Education, Actuarial Science, Engineering, Management

Skills for Reinsurance Analyst

Desired skills for reinsurance analyst include:

Microsoft Excel
Accounting/statistics and other financial related work experience an advantage
Reinsurance
Structure of underwriting files and previous exposure to reinsurance contracts
Treaties and reinsurance markets
Business to resolve issues and provide informed
GAAP/ STAT accounting and other regulatory requirements
Policy/claims administration
Access
Areas of insurance/reinsurance are

Desired experience for reinsurance analyst includes:

Undergraduate degree in actuarial science or other quantitative area of study
At least 4 exams from the Casualty Actuarial Society
3 years' experience in insurance or other relevant field
Strong computer and programming skills (Excel, VBA, SAS)
Knowledge of financial and accounting concepts
Client-oriented and superior communication skills

Reinsurance Analyst Examples

1

Reinsurance Analyst Job Description

Job Description Example
Our growing company is looking for a reinsurance analyst. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for reinsurance analyst
  • Helping automate and secure the Property Reinsurance Process
  • Counterparty Risk in Property CAT Reinsurance
  • Managing claims arising under assumed reinsurance contracts, both treaty and facultative, with particular emphasis on excess / umbrella standard casualty, various professional liability lines of business
  • Perform monthly, quarterly, annual financial close process for structured reinsurance entities such as treaty settlement and reconciliations
  • Provide support on feasibility studies, reinsurance settlement calculations, and financial impact attribution as required
  • Optimize operational efficiency of reinsurance administration through the development and use of tools and systems
  • Support financial analysis of reinsurance entities with data validation and reconciliations
  • Know how to research topical subjects, such as ACA changes, , and keep the team informed on updates/changes
  • Support analysis of client data through review of trends found in client’s large datasets
  • Participate in the design of a Common Platform for the Data Management of Annuity business
Qualifications for reinsurance analyst
  • Known for the quality of his/her work product, minutia and rigor
  • Analytical mindset, team spirit, innovative
  • Prior experience working with stochastic simulation software (Igloo, MetaRisk) and/or catastrophe modelling software (RMS, AIR, EQECAT) an asset
  • Work within a dynamic environment where you are encouraged to aid in process improvement and work with autonomy
  • Maintain and develop internal relationships
  • Resolve internal and external queries in a professional manner
2

Reinsurance Analyst Job Description

Job Description Example
Our company is looking for a reinsurance analyst. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for reinsurance analyst
  • Participate in the implementation of new reinsurance treaties and treaty amendments as needed
  • Provide end to end thought leadership for the monthly reinsurance administration billing process
  • Lead the claim recovery process from 3rd party Reinsurance companies within strict business and SOX control governance to ensure all paid/unpaid recoveries are accurately reflected in the general ledger
  • Reconcile monthly reports with membership data and payments
  • Take proactive steps to identify project critical path
  • Identifies gaps and process improvement
  • Triages and troubleshoots user-reported system defects
  • May assist management in the quarterly and annual evaluation of team members
  • Prepares and presents detailed business cases for review by management and corporate steering committees
  • Develops standards and protocols for project deliverables of all departmental team activities to ensure quality and timely delivery of documents
Qualifications for reinsurance analyst
  • Leads efforts to evaluate the acquisition of 3rd party software
  • Minimum five years analytical and data processing experience with experience on large-scale business analysis or development projects and proven leadership abilities
  • Possess an understanding of health industry data elements, and understanding of how elements are used within departmental processes
  • Strong understanding of regulatory requirements essential to supported functional area
  • Possess a very high level of subject matter expertise in a functional area, which may require expertise in benefits, claims adjudication, provider or employer contract administration, member and provider demographic management, and/or call center administration
  • Ability to conceptualize, and design new methods for practical application
3

Reinsurance Analyst Job Description

Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of reinsurance analyst. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for reinsurance analyst
  • May handle/calculate reinsurance claims for a variety of reinsurance contracts and provisions (i.e., XOL, Q/S, expenses, ) of low complexity
  • May ensure accurate entries on the monthly Activity reports and identifies and codes reinsurance
  • Supporting the XL Catlin Reinsurance Operations/Underwriting functions in general risk administration tasks
  • The Senior Analyst will work with broker team, analytics team, and other team members (technology, financial) to identify client needs and develop additional opportunities related to products and services
  • The Senior Analyst will assist in coordinating analysis priorities with appropriate broker teams
  • Present results of analyses to brokers, clients and subscribers
  • The Senior Analyst coordinates with other team members to ensure clients’ needs are being met and resources are not overlapping or contradicting
  • Responsible and accountable for quality and accuracy of all analyses on the team
  • Construct and update exhibits to support actuarial studies
  • Conduct various ad hoc analyses requiring financial modeling skills
Qualifications for reinsurance analyst
  • Ability to train lower level staff or new hires on job duties
  • Position may require understanding of relational databases
  • 2 to 5 years of experience in a Property and Casualty actuarial role as a Senior Analyst
  • Dynamic Financial Analysis or Economic Capital Modeling experience a plus
  • 2 to 5 Actuarial Exams completed and passed
  • Ability to identify and resolve problems, think creatively, strategically and analytically
4

Reinsurance Analyst Job Description

Job Description Example
Our growing company is hiring for a reinsurance analyst. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for reinsurance analyst
  • Performing technical analysis (claims administration duties for assigned Reinsurance clients following Global Reinsurance Claims Guidelines, processes and best practices)
  • In-depth training in reinsurance and reinsurance accounting
  • Perform monthly and quarterly reinsurance administration activities such as treaty settlement, monitoring and result review and reconciliations
  • Communicate with reinsurance administration and internal clients for proper treaty administration
  • Works closely with the reinsurance administration group and management to ensure accuracy of the business analysis
  • Provides statistics and Impacts as it relates to Reinsurance Administration
  • Death claim processing in BHF reinsurance systems
  • Coordination of Life & Health client portfolio
  • Daily communication and business correspondence with internal and external clients
  • Financial settlement of claims and triage of claim related documents
Qualifications for reinsurance analyst
  • Strong ability to understand and perform mathematical and statistical calculations
  • Extensive knowledge of MS Office suite of products
  • Programming / Database / SQL abilities a plus
  • Strong analytical skills and lively curiosity, while maintaining close attention to detail and accuracy
  • Good communication skills to explain analytical assumptions, methodologies and results to technical and non-technical audiences
  • Ability to perform analytical work both independently and collaboratively as a project team member or leader
5

Reinsurance Analyst Job Description

Job Description Example
Our company is growing rapidly and is looking to fill the role of reinsurance analyst. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for reinsurance analyst
  • Working with Accounting on reinsurance account reconciliations, year-end Schedule F reporting
  • Obtaining the Associate in Reinsurance designation and/or any other applicable credentials
  • Coordination of US Life & Health client portfolio
  • End-to-End handling of Statements of Accounts
  • Coordination of international client portfolio
  • Business correspondence with internal and external clients
  • Leads the project team for the preparation of the CGRC annual statutory filing as required by the Bermuda Monetary Authority
  • Initiating and conducting claim audits, including direct interaction with brokers and clients, and performing critical assessments of our clients’ operations and individual claim files
  • Estimate, manage and deliver individual BA workstreams and deliverables
  • Calculate premiums, expense allowances, claim accruals, cash settlements, and other activities as required for the monthly financial closing process
Qualifications for reinsurance analyst
  • Java experience a plus, but not required
  • Knowledge of asbestos, pollution, and other toxic tort claim adjustment practices preferred, but not required
  • In close liaison with the lead broker and internal actuaries, assist in the development and production of both risk exposure and historical claims data for presentation to clients and reinsurers
  • Conduct in-depth account analysis including profiling of risk exposures to develop broking testimonies
  • Ensure accuracy and efficacy of information, including risk data cleansing and risk aggregation
  • Quotation analysis including review of structures and reinsurance rates

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