Reinsurance Operations Specialist

2 weeks ago

Jersey City, New Jersey, United States Aspen Insurance Group Full time

Reinsurance Operations Specialist

Location: Jersey City, New Jersey

Employment Type: Permanent - Full Time

About Aspen Insurance Group

Founded in 2002, Aspen Insurance Group has established itself as a premier, diversified specialty insurance and reinsurance provider. Our commitment to thoughtful and innovative solutions ensures we achieve optimal outcomes for our clients and partners. We prioritize our core values of respect, honesty, trust, and professionalism, fostering a rewarding environment for career development.

Position Overview

The Reinsurance Operations Specialist plays a crucial role in supporting the global Outwards Reinsurance business, ensuring a streamlined and effective Outward Reinsurance function.

This position collaborates closely with the Group Head of Outward Reinsurance and various departments, including Underwriting, Finance, Actuarial, Claims, and Legal, to formulate and execute reinsurance strategies that align with the business plan.

Key Responsibilities

  • Assist in the development and execution of the Outwards Reinsurance strategy, ensuring operational deliverables align with business objectives.
  • Oversee the financial planning process for the Outwards Reinsurance business as directed by senior management.
  • Communicate changes in the Outwards Reinsurance program and their implications on financial plans to key stakeholders.
  • Support the establishment of effective planning and control mechanisms to meet business goals in accordance with market expectations.
  • Contribute to the enhancement of reinsurance procedures for the collection, review, and analysis of relevant information.
  • Generate and manage monthly and quarterly internal reports for distribution within the organization.
  • Facilitate interactions between reinsurers and underwriting teams during audits and presentations.
  • Maintain organized and accessible reinsurance files, ensuring documentation of placement issues is clear.
  • Ensure timely completion of internal reinsurance reports that capture placement activities and variances.
  • Administer the Outwards Reinsurance purchases, coordinating with various stakeholders to ensure accuracy and efficiency.
  • Collaborate with the Outwards Reinsurance Accounting and Operations team to provide necessary details for effective administration.
  • Engage with brokers and stakeholders regarding Expected Loss assessments.
  • Develop and update relationship reports for key stakeholders.

Qualifications

  • In-depth knowledge of reinsurance accounting practices and contract wording.
  • Familiarity with business processes and strategic financial planning.
  • Strong data management skills, particularly in Microsoft Excel.
  • Excellent analytical abilities related to reinsurance.
  • Outstanding interpersonal and communication skills.
  • Ability to manage multiple priorities effectively.
  • Strong customer service orientation.
  • Proven ability to collaborate within a team environment.
  • Creative problem-solving skills with strong reasoning capabilities.
  • Experience in reinsurance operations, accounting, and financial planning (5+ years preferred).
  • Project management experience is advantageous.
  • Experience working with senior colleagues in a professional setting.

Equal Opportunity Employer

Aspen Insurance Group is an equal opportunity employer. All applicants will be considered for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.

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