What are the responsibilities and job description for the Operations Analyst - Facultative Reinsurance position at Sompo International Holdings Ltd.?
As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most : our people . At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.
Job Description
Are you looking for your next opportunity?
Sompo has a unique opportunity for an Operations Analyst - Facultative Reinsurance on our North America Insurance Operations team.
Our North America Insurance Operations team is dedicated to supporting our underwriting teams. By partnering closely with our business units and corporate functions, we help create additional capacity to drive the success of our underwriters. We focus on implementing best practices, standardizing processes, and developing our staff's competencies to ultimately deliver greater efficiencies and create scalable, sustainable processes.
Location : This position will be based out of our Morristown, NJ office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.
Our business, your impact, our opportunity :
What you'll be doing :
- Manage the Facultative Reinsurance Operations Inbox and process contract placements from underwriting into the SAP-FSRI system, ensuring accurate booking of premiums and loss criteria
- Interpret facultative reinsurance documents, including certificates, binders, slips, declarations, and endorsements, to allocate premiums correctly and understand ceding hierarchy based on underwriting structures and layers
- Coordinate with the Ceded Re Department to reconcile facultative results and address inquiries from reinsurers and brokers, maintaining alignment with facultative reinsurance agreements
- Generate and distribute monthly, quarterly and year end facultative reports for Senior Management
- Conduct SOX control reviews with internal and external auditors and assist with testing new product implementations, system changes, and process enhancements, including UAT and monitoring production
- Review account statements from reinsurers and brokers to ensure accuracy and compliance
- Handle ad hoc tasks, such as priority booking requests, onboarding new business lines, testing system upgrades, enhancing data quality, and documenting processes
What you'll bring :
At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs :
In today's world, what do we stand for?
Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo.
Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone's unique contributions - we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.
