Reinsurance Financial Associate

Zurich North America is currently seeking a detail-oriented Reinsurance Financial Associate to strengthen our Ceded Reinsurance Team, within the broader Group Reinsurance function. This position is based at our North American headquarters in Schaumburg, Illinois. Local candidates will follow a hybrid work schedule, with in-office days coordinated with your manager to support collaboration, business needs, and your personal flexibility.

About the Role:

This role sits within Group Reinsurance at Zurich North America and reports to the Multinational Facultative Reinsurance Manager. You’ll be part of a collaborative team that plays a key role in supporting Zurich’s risk strategy by ensuring accurate execution of ceded reinsurance transactions and partnering across finance, actuarial, underwriting, claims, and global reinsurance teams. 

The Reinsurance Financial Associate will support the accounting of reinsurance transactions, with a focus on maintaining accurate records and reconciliations for ceded premium payable and ceded loss recoverable accounts.  You will be responsible for settling ceded premium payables and preparing regular loss bordereaux reports and facultative claims billings, helping ensure timely collection of ceded loss recoverable balances. 

Responsibilities:

• Analyze and apply proper accounting and operational procedure for reinsurance contracts and transactions.
• Review reinsurance reporting, reconcile reinsurance-related activity, investigate discrepancies, identify issues, and coordinate timely resolutions with internal and external stakeholders.
• Settle ceded premium in accordance with contract terms, internal control procedures, and department standards.
• Prepare loss bordereaux reports and facultative loss billings.
• Reconcile ceded premium payable and ceded loss recoverable subledger activity, providing documentation for management reports.
• Prepare reinsurance journal entries.
• Lead relationship and communication with internal Zurich business partners and external reinsurance customers within area of responsibility, including timely response to all external inquiries as prescribed by department standards.
• Responds to basic internal and external audit inquiries and supports reinsurance audits.

Basic Qualifications:

• Bachelor’s degree and no prior experience required in the Reinsurance area
  OR
• High School Diploma or Equivalent and 2 or more years of experience in the Reinsurance area

Preferred Qualifications:

• Prior experience to include a combination of accounting, reporting, insurance, reinsurance, and financial analysis .
• Knowledge of reinsurance claim recoverable process and its link to direct claim processing.
• Comfortable working in team settings.
• Ability to interact with the business unit and customers, utilizing strong interpersonal skills and communication skills.
• Intermediate level Microsoft Office skills experience (Excel, Word, Outlook, etc).
• Familiarity with general ledger and financial reporting systems.

At Zurich, compensation for roles is influenced by a variety of factors, including but not limited to the specific office location, role, skill set, and level of experience. In compliance with local laws, Zurich commits to providing a fair and reasonable compensation range for each role. For more information about our Total Rewards, please click here. Additional rewards may encompass short-term incentive bonuses and merit increases. We encourage candidates with salary expectations beyond the provided range to apply as they will be considered based on their experience, skills, and education. The compensation indicated represents a nationwide market range and has not been adjusted for geographic differentials pertaining to the location where the position may be filled. The proposed salary range for this position is $58,800.00 - $96,300.00, with short-term incentive bonus eligibility set at 10%. 

As an insurance company, Zurich is subject to 18 U.S. Code § 1033.

A future with Zurich. What can go right when you apply at Zurich?

Now is the time to move forward and make a difference. At Zurich, we want you to share your unique perspectives, experiences and ideas so we can grow and drive sustainable change together. As part of a leading global organization, Zurich North America has over 150 years of experience managing risk and supporting resilience. Today, Zurich North America is a leading provider of commercial property-casualty insurance solutions and a wide range of risk management products and services for businesses and individuals. We serve more than 25 industries, from agriculture to technology, and we insure 90% of the Fortune 500®. Our growth strategy is not limited to our business. As an employer, we strive to provide ongoing career development opportunities, and we foster an environment where voices are diverse, behaviors are inclusive, actions drive equity, and our people feel a sense of belonging. Be a part of the next evolution of the insurance industry. Join us in building a brighter future for our colleagues, our customers and the communities we serve. Zurich maintains a comprehensive employee benefits package for employees as well as eligible dependents and competitive compensation. Please click here to learn more.

Zurich in North America is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race/ethnicity, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status. 

Zurich does not accept unsolicited resumes from search firms or employment agencies. Any unsolicited resume will become the property of Zurich American Insurance. If you are a preferred vendor, please use our Recruiting Agency Portal for resume submission. 

Location(s): AM - Schaumburg
Remote Working: Hybrid
Schedule: Full Time
Employment Sponsorship Offered: No  
 
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