Reinsurance Collections Analyst II

Scope of Duties

The Reinsurance Collections Analyst II, is responsible for all aspects of collecting outstanding monies due from reinsurers on complex, long-tail reinsurance claims.  The position reports to a VP Ceded Reinsurance or an AVP Ceded Reinsurance.

Job Responsibilities

• Appropriate and timely collection of outstanding ceded reinsurance balances
• Assist with the identification of outstanding ceded reinsurance balances on assigned markets to support and facilitate timely collections
• Analysis of outstanding ceded reinsurance balances on assigned markets to ensure accuracy of balances
• Ensure the accuracy of related financial records and adherence to internal controls
• Develop and present to management strategies for resolution of disputed ceded reinsurance balances through dispute management process
• Identity and communicate to management any market issues and trends
• Maintain rigid diary system resulting in continuous targeted collections efforts on aged balances
• Identify and explain those balances for which mark-offs are appropriate
• Conduct regular market meetings to foster and improve market relationships to facilitate timely collections of outstanding balances
• Seek authority where appropriate to negotiate and resolve disputed balances
• Prepare and maintain reports to management on status of collections of outstanding ceded reinsurance balances
• Communicate regularly with Accounting Team to ensure accurate and timely application of cash received and reconcile any payment discrepancies

Minimum Qualifications

• Four-year college degree, with a major in insurance or business preferred
• Strong research, writing and analytical skills
• Two years of ceded reinsurance collections experience

Desired Qualifications

• Significant knowledge of Microsoft Excel and data management tools
• Working knowledge of Microsoft Office utilities
• Knowledge and experience with long-tail insurance claims (e.g., asbestos, hazardous waste, sexual molestation, etc.)
• Familiarity with artificial intelligence tools (Chat GPT or similar) and applications, AI prompt construction, and uses of AI in run-off contract review, claims analysis and arbitration preparation