What are the responsibilities and job description for the Senior Business Systems Analyst, Reinsurance position at Ascot Group?
Job Description
This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.
Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we are bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.
The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.
Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service — both pre- and post-claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.
Job Summary
The Senior Business Systems Analyst, Reinsurance role will support the analysis, design, and implementation of reinsurance solutions. The ideal candidate will have a deep understanding of reinsurance contracts, treaties, and financial transactions, along with expertise in policy administration systems, claims, and financial reporting. This role requires collaboration with stakeholders, documenting business requirements, and ensuring successful system integration. This role may be in the office on a hybrid work schedule.
Job Responsibilities
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)
This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.
Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we are bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.
The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.
Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service — both pre- and post-claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.
Job Summary
The Senior Business Systems Analyst, Reinsurance role will support the analysis, design, and implementation of reinsurance solutions. The ideal candidate will have a deep understanding of reinsurance contracts, treaties, and financial transactions, along with expertise in policy administration systems, claims, and financial reporting. This role requires collaboration with stakeholders, documenting business requirements, and ensuring successful system integration. This role may be in the office on a hybrid work schedule.
Job Responsibilities
- Business & System Analysis responsibilities such as gathering, analyzing, and documenting business requirements related to reinsurance operations, including treaty and facultative reinsurance.
- Partnering with underwriting, actuarial, claims, and finance teams to ensure seamless integration of reinsurance processes.
- Reinsurance System Implementation and Enhancements including collaborating with IT teams to design, implement, and enhance reinsurance processing systems.
- Perform GAP analysis between current state and future state processes to improve efficiency.
- Ensure compliance with statutory and regulatory requirements.
- Responsible for Data & Reporting responsibilities including defining data requirements and ensuring accurate mapping for financial reconciliation and reporting.
- Assisting in generating reports for reinsurance settlements, bordereaux, ceding statements, and recoverable.
- Working with BI and data teams to implement dashboards and analytics for reinsurance performance tracking.
- Testing and UAT Support by developing test plans, test cases, and execute UAT for system implementations and enhancements.
- Validating system calculations for premium allocations, loss sharing, cession rules, and treaty compliance.
- Enduring Stakeholder Collaboration by conducting JAD sessions and stakeholder meetings to gather input and align on business requirements.
- Partnering with vendors and third-party reinsurance platforms to ensure smooth system integration.
- Work closely with the SI partners and lead/manage deliverables
- Process Optimization & Documentation responsibilities such as document business processes, workflows, and SOPs for reinsurance operations.
- Identify opportunities for automation and process improvements in reinsurance transactions.
- At least a Bachelor’s degree or equivalent years of experience
- 6-8 years of experience as a Business Systems Analyst in Insurance/Reinsurance domain.
- Strong knowledge of reinsurance types (facultative, treaty, quota share, excess of loss, etc.) and ceding/assumed reinsurance processes.
- Experience working with Reinsurance Systems e.g., SAP FS-RI, Sapiens Reinsurance, Majesco Reinsurance, Cenata or custom solutions.
- At least 5 years’ experience working as an IT Lead Business Analyst in reinsurance projects defining requirements for integration mechanisms with sound knowledge of out-of-the-box features and data model.
- Property and casualty insurance knowledge in commercial lines and specialty product offerings preferred.
- Experience in driving workshops, defining product backlog & roadmap, sprint planning and handling scope, dependency & risks.
- Experience in requirement elicitation, gap analysis, process modelling, requirement management, driving UAT, defining implementation and data migration plans, product support and user training.
- Proficiency in SQL for data analysis, system queries, and reporting.
- Experience with SDLC methodologies (Waterfall, Agile-Scrum, RUP) and tools like JIRA or Azure DevOps.
- Strong analytical and problem-solving skills with a detail-oriented approach.
- Excellent communication skills and experience in cross-functional team collaboration.
- Ability to quickly adapt to new and evolving situations.
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)
