What are the responsibilities and job description for the Operations Technical Specialist - Financial Lines position at Ascot Group?
Job Description
Ascot Group Limited is a Bermuda domiciled global specialist in insurance and reinsurance. Built on a foundation of underwriting expertise, the Group compromises four divisions : Ascot Underwriting Limited-a Managing Agent for Syndicate 1414 at Lloyd's; Ascot Reinsurance Company Limited-a Bermuda based specialty reinsurer; and Ascot Insurance U.S.- an admitted and surplus lines insurance business.
Ascot Group is owned by the Canada Pension Plan Investment Board (CPPIB), the largest pension plan in Canada with over $300 billion in invested assets and is 'AAA' rated by S&P and Moody's.
About the Role
The Operations Technical Specialist will work closely with multiple Financial Lines Underwriting teams, supporting and managing operational workflows. The Operations Technical Specialist will collaborate with operations team members and key business partners to process midterm endorsements and cancellations, invoicing, monthly reporting and provide support to underwriters and brokers throughout the policy lifecycle. The candidate will also work with a supporting team of Operations and Outsource team members to ensure all service level agreements are met and all processing work is processed accurately & efficiently. The ideal candidate should have an in-depth understanding of the insurance industry, be a creative problem-solver with a skill for navigating systems and an eye for detail.
Responsibilities and Duties
- Responsible for the management of workflow of assigned underwriting products within the Financial Lines business unit (i.e. Management Liability and Financial Institutions).
- Gain a strong understanding of business processes by leveraging standardized workflows and compliance guidelines.
- Provide support to assigned underwriters throughout the policy lifecycle, which includes, but is not limited to clearance, binders, invoices, complex policies and endorsements, cancellations, renewals, non-renewals, and reinstatements.
- QA policies to ensure accuracy.
- Ensure all work is processed accurately and according to Service Level Agreements
- Provides ongoing guidance and support to the offshore team as needed.
- Collaborate with the offshore team and Ascot Service Center as needed.
- Communicate effectively with underwriters and brokers to secure the information necessary to accurately process the business.
- Support finance, systems, data, and actuarial teams in ad-hoc tasks.
- Identify areas for improvement, create and implement solutions when needed.
- Perform other duties as assigned.
Qualifications
Compensation
Actual base pay could vary and may be above or below the listed range based on factors including but not limited to experience, subject matter expertise, and skills. The base pay is just one component of Ascot's total compensation package for employees. Other rewards may include annual cash bonus, and other forms of discretionary compensation awarded by the Company.
The salary for this position in New York Metro is $60,000-$65,000
Company Benefits
The Company provides a competitive benefits package that includes the following (eligibility requirements apply) :
Health and Welfare Benefits : Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Life Insurance, AD&D, Work / Life Resources (including Employee Assistance Program), and more
Leave Benefits : Paid holidays, annual Paid Time Off (includes paid state / local paid leave where required), Short-term Disability, Long-term Disability, Other leaves (e.g., Bereavement, FMLA, Adoption, Maternity, Military, Primary & Non-Primary Caregiver)
Retirement Benefits : Contributory Savings Plan (401k)
LI-Hybrid
Salary : $60,000 - $65,000
