Reinsurance Senior Cash Operations Analyst

12 hours ago

New York, United States Garrison Associates LLC Full time

Premier, global reinsurance firm seeking an Operations Assistant - Cash.


I have been supporting this client for 20+ years and I can sincerely say they have the best, most employee centric, corporate culture of any client I’ve worked with. Their global team shares a passion for solving their customers’ problems through a collaborative and entrepreneurial culture that empowers employees and rewards creative thinking.


This position is a 4 days per week in office role in midtown NYC very close to all major transportation hubs.


POSITION SUMMARY


The Operations Assistant - Cash will be responsible for all aspects of cash management for the reinsurance transactions in our risk and accounting systems for all books of business written across multiple balance sheets. The Operations Assistant - Cash is responsible for, but not limited to, supporting the team, providing technical expertise to the members of the Operations team, ownership of a defined portfolio of responsibilities, which may include certain aspects of facilitating, reviewing and analyzing the processing of all aspects of underwriting/reinsurance contract and claims information in our risk, accounting and claims systems for all books of business written. They will work and support across the Operations teams and will also assist with special/ad hoc projects when required.


RESPONSIBILITIES


  • Working closely with the Underwriting and Finance as part of the Operations team:
  • Reconciliation of Broker/Cedant Statement of Accounts.
  • Booking and applying/matching of cash receipts and disbursements in reinsurance accounting system
  • Processing of all financial account messages
  • Working with technical/claims teams to resolve issues whereby cash cannot be allocated to accounts
  • Monitor accounts receivable and reports for overdue accounts (e.g. 60, 90 and 120 days) and follow up on all overdue accounts on a timely basis.
  • Review cash in suspense balances and follow up on a timely basis
  • Preparation and analysis of AR gross up
  • Liaise with brokers/coverholders and clients to resolve aged debt issues.
  • Maintenance of documentation of anticipated receipts, cash disbursements and broker queries/follow-ups.
  • Management of all intercompany payments and receipts.
  • Supporting development, implementation and documentation of processes and controls for efficient handling of department responsibilities.
  • Assisting with development and oversight of metrics and KPIs ensuring they align to the goals of the team.
  • Helping to support to Claims, Reserving, Underwriting and Finance departments.
  • Support for adherence to contract certainty.
  • Assist with implementation and execution of special/ad hoc projects within the Operations Department.
  • Provide support to the broader Operations team to help to ensure smooth and efficient monthly and quarterly closes.
  • Assist with requests from both Internal and External Auditors.
  • Ensuring SOX compliance for Operations processes.
  • Provide regular updates to team and manager
  • Assist in creating efficiencies and value creation (review existing processing and propose updates/changes as appropriate)
  • Participate in any special projects or ad hoc tasks that may be required by either Internal or external parties.
  • Ensure all functions are carried out with a high degree of quality, in a timely manner.


QUALIFICATIONS, SKILLS & EXPERIENCE


  • A university degree preferred, (emphasis on business, insurance or finance / accounting is advantageous) or comparable experience essential.
  • 3+ years prior relevant experience in area of responsibility preferred.
  • Good knowledge of general insurance business or reinsurance.
  • Strong analytical, problem-solving skills, able to identify alternative solutions to often complex problems, accounts and transactions.
  • Applies strong technical skills to achieve results.
  • Prioritizes responsibilities, makes effective use of time and remains flexible to changing work needs/demands.
  • Utilizes available resources to accomplish objectives and identifies issues that could potentially derail results.
  • Clearly and concisely presents information in group settings adapting messages to the needs of the audience and effectively responds to Q&A.
  • Remains open to new thinking and ideas, and views situations from multiple perspectives.
  • Strong computer skills – MS Word, Excel and any relevant internal systems (SICS).

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