Job Title: Vice President or Assistant Vice President (depending on experience)
Team: Reinsurance Operations – Client Account Management
Reports To: Team Manager
Location: Minneapolis, other Branch locations such as Dallas, Philadelphia, Chicago, Atlanta or remote
Position Overview:
This position is an individual and team contributor. Act as a consultant and advisor to sales teams, clients and reinsurers on a variety of reinsurance accounting and claim issues. Develop creative solutions to enhance client service and implement processes and procedures to improve consistency and drive efficiencies. Manage large accounts to facilitate reinsurance accounting & claims activity and provide technical reinsurance expertise. Assist Manager(s) with strategy development and teammates with training and problem solving.
Essential Responsibilities:
- Serve as Account Manager on large or complex accounts and manage relationship between ceding companies and reinsurers. Facilitate work stream with team members to ensure daily tasks for client are completed timely. Work steam to include:
- Reviewing and understanding terms of reinsurance contracts and program structures.
- Timely receipt and transmittal of accounts, adjustments and premium transactions including collection of funds and disbursement to clients/reinsurers.
- Prompt evaluation and processing of reinsurance claims in accordance with contract language and company standards.
- Managing collection of funds, queries, and outstanding issues between reinsurers and ceding companies until resolution. Conduct timely and regular claim follow-ups.
- Evaluating clients’ potential unauthorized reinsurance penalties and obtain funding of reserves from unauthorized reinsurers.
- Regular communication of relevant information to Team Leaders, Accounting & Claims Team, and Sales Teams.
- Produce and respond to written/verbal communications effectively and appropriately within company standards.
- Travel to client and reinsurer offices as needed to support sales teams and BMS operating units to enhance client relationships.
- Assist with coordination of client on boarding, integration, and data transfers.
- Communicate with various technical managers and personnel: IT, Contract Writing, Compliance/Audit, Finance, Legal, Actuarial and HR.
- Be a technical reinsurance resource for Analysts and Senior Analysts and assist with training.
- Work with team to develop and implement procedures and training programs for BMS operating and production units and clients.
- Adapt quickly to rapidly changing technologies and systems. Work with team to create effective and efficient processes and solutions. Work with team to ensure system conversions flow smoothly.
- Assume and perform specialized functions and special projects as requested.
- Willingness to attend classes, trainings and conferences to learn new skills.
- Focused on the client relationship & safeguarding the overall success of the BMS team
Required Education, Experience and Skills:
- Bachelor’s degree (B.A./B.S.) from a four year college or university or equivalent preferably in Accounting, Finance, Math, Economics or other similarly quantitative or analytically oriented major.
- Seven or more years reinsurance experience at Analyst level (or above) or significant experience in insurance/reinsurance claims or accounting operations.
- Ability to communicate clearly and effectively (both written and verbal)
- Ability to effectively interact with all levels of employees with good interpersonal and relationship management skills
- Organizational abilities, ability to meet deadlines with attention to detail
- Analytical, problem solving capabilities with strong attention to detail
- Forward thinker and planner; proactive and uses initiative
- Adapts and responds well to change and pressure
