What are the responsibilities and job description for the Reinsurance Accounting & Claims Analyst / Senior Analyst position at BMS Group?
About BMS
BMS is a dynamic, independent global broker delivering specialist insurance, reinsurance, and capital markets advisory services. Our purpose is to help people, businesses and communities flourish and prosper in a world of risk.
We are a global brand with offices located across the US, Canada, Latin America, Australia, Europe and Asia with both a strong local focus and understanding of market needs. Being independent gives our brokers the freedom to deliver the best solutions and combined with our collaborative team approach, single platform worldwide and renowned personal service, we are the independent broker of choice.
Position Overview
As an Accounting and Claims Analyst you will facilitate reinsurance accounting and claims activity and provide technical reinsurance expertise for clients, reinsurers, and BMS Sales teams. Assist Manager and team members with developing creative solutions to enhance client service and implement processes and procedures to improve consistency and drive efficiencies.
Essential Responsibilities:
- Serve as accounting and claims liaison between ceding companies and reinsurers. Responsible for:
- Reviewing and understanding terms of reinsurance contracts and program structures
- Timely receipt and transmittal of accounts, adjustments and premium transactions. including collection of funds and disbursement to clients/reinsurers.
- Prompt evaluation and processing of reinsurance claims in accordance with contract language and company standards.
- Manage collection of funds, queries and outstanding issues between reinsurers and ceding companies until resolution. Conduct timely and regular claim follow-ups.
- Evaluate clients’ potential unauthorized reinsurance penalties and obtain funding of reserves from unauthorized reinsurers.
- Produce and respond to written and verbal communications effectively and appropriately within company standards.
- Adapt quickly to rapidly changing technologies and systems.
- Collaborate with team to create effective and efficient processes and solutions.
- Responsible for ensuring system conversions flow smoothly.
- Coordinate client integration and data transfers.
- Maintain paperless files and reports to assist in the performance of assigned responsibilities.
- Travel to client and reinsurer offices as needed to support BMS sales teams.
- Perform specialized functions and special projects as requested.
Required Education, Experience and Skills:
- A Bachelor’s degree (B.A./B.S.) from a four year college or university or equivalent preferably in Accounting, Finance, Math, Economics or other similarly quantitative or analytically oriented major
- Previous insurance and/or reinsurance experience preferred
- The ability to see big picture with excellent attention to detail
- That ability to manage time, prioritize and work to deadlines; adept at multi-tasking with strong organizational skills
- Highly collaborative personality with ability to maintain positive client relationships; flexible to meet the needs and demands of a fast-paced work environment
- The ability to effectively communicate and interact with internal and external clients and vendors through both verbal and written means with excellent listening ability
- The ability to make good decisions using independent judgment
- The ability to learn quickly and effectively incorporate new concepts and practices; flexible and open to change
- Advanced Microsoft Excel, Word and Outlook experience
- Willingness to attend classes, trainings and conferences to learn new skills
