Operations assistant - Proportional

RenaissanceRe is a leading writer of Property & Casualty Reinsurance. For over 25 years, we have helped customers and communities recover and build resilience through our industry-leading ability to understand risk, source efficient capital and rapidly pay claims.

Our global team shares a passion for solving our customers’ biggest problems through a collaborative and entrepreneurial culture that empowers employees and rewards creative thinking.

POSITION SUMMARY: 

The  Operations Assistant – Proportional is responsible for providing specific technical expertise on accounts and monitoring and coordinating all aspects of servicing the reinsurance contract for assigned clients on the proportional book of business.  This includes setting priorities, coordinating special projects, and liaising directly with internal/external clients and staff at all levels. 

KEY RESPONSIBILITES: 

• Timely processing of pro-rate accounts and bordereaux in our policy management system arising from a variety of classes of business including Casualty, Specialty & Property.

• Maintaining the integrity of operational pro-rata files and reporting to underwriting and claims the in formation contained within these files, as requested.

• Liaising with brokers in a professional manner to obtain detailed information relating to the information presented in pro-rata accounts.

• Investigate and allocate headlined claim events to ensure correct flagging for retrocessional arrangements and actuarial reserving.

• Verification of pertinent financial information that has been entered into our policy management system.

• Provide feedback to Underwriters, Claims, and Actuarial from a pro-rata perspective.

• Ensure all pro-rata accounts are processed and reserved. Ensures alignment and compliance with Global reserving practices and strategy.

• Verification of the calculation of loss sensitive payments (i.e. Profit Commissions/Sliding Scale Commission).

• Completion of the quarterly Estimated Premium Income review process which covers all in-force contracts that are recording premium using estimated figures ensuring accuracy.

• Assisting in the management of the pro-rata cash allocation process and highlighting problematic items.

• Monitoring the pro-rata receivables balances and the following up with brokers/cedents on the overdue balances.

• Completing pro-rata account payments for balances due to the broker/cedent.

• Other duties as required.

REQUIRED SKILLS AND EXPERIENCE: 

• At least 2 years prior experience in processing of pro-rata accounts. 

• At least 2 to 5 years relevant prior experience in the (re)insurance/ industry.

• A professional designation preferable (CA, ACA, CPA) or equivalent work experience.

• Demonstrated strong mathematical and numerical analytical skills. 

• Proven problem-solving ability, applies strong technical skills to achieve results. 

• Experience in DXC SICS would be an asset. 

• Strong knowledge in Microsoft Office Suite of applications. 

• Proven organizational and timekeeping skills and a strong sense of attention to detail are essential.

• Priorities responsibilities, makes effective use of time and remains flexible to changing work needs/demands.

• Excellent verbal and written communication skills. 

Our people are our most valuable resource and core to our success. This is a fast-paced business environment, demanding a strong work ethic and a results-oriented approach. We offer competitive compensation and benefits, a comprehensive talent development program, and a reward system in which employees share in the success of the company. We are an engaged member of the communities in which we live and work and have a locally-led giving philosophy with generous employee matching program, global and local community grants and employee volunteerism.

We seek diversity, create equity, and practice inclusion. Our people are at the heart of everything we do. We are an equal opportunity employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, national origin, sex, sexual orientation, gender identity, marital status, pregnancy, disability, military status or other legally protected categories.