Reinsurance Specialist jobs in Centreville, VA

Reinsurance Specialist performs routine reinsurance administrative duties, such as maintaining records, processing and verifying new business. Organizes the preparation of monthly and annual reports and ensures reinsurance information has been recorded accurately. Being a Reinsurance Specialist performs reconciliation of premium billing statements and DAC tax calculations and maintenance of various reinsurance operations. Researches and resolves the more complex cases and provides guidance to others. Additionally, Reinsurance Specialist may review work performed by others and train new staff. Works towards industry designations (e.g., FLMI, ARA, ACS, etc.). Requires a bachelor's degree. Typically reports to a manager or head of a unit/department. The Reinsurance Specialist gains exposure to some of the complex tasks within the job function. Occasionally directed in several aspects of the work. To be a Reinsurance Specialist typically requires 2 to 4 years of related experience. (Copyright 2024 Salary.com)

L
Reinsurance Analyst
  • Legal & General America
  • Frederick, MD OTHER
  • Overview

    At Legal & General America, we aim to make a positive difference in the lives of our customers, partners, colleagues, and the communities in which they live.  As a recognized market leader of term life insurance, we’re working to transform our business through innovation and technology to provide products and solutions that help American families secure their financial futures.

     

    We are a future-focused company, passionate about what we do and how we do it. This means working with pace and energy to reach our goals and challenging ourselves to achieve more.  We strive to create a unique environment where balance between work and life is possible. Our employees' passion, dedication and hard work, as well as our career development opportunities, benefits, and employee activities contribute to our positive workplace culture.

     

    The Reinsurance Analyst is responsible for the administration and placement of reinsurance for Banner Life and William Penn as outlined below.

     

    Responsibilities

    Monthly Processing & Analysis

  • Generate and reconcile monthly reinsurance billing extracts
  • Review and correct errors from monthly process
  • Process manual adjustments to billing file
  • Ensure that electronic information is sent to all reinsurers to include billing reporting and inforce policy details
  • Research data to develop trend analysis reports on monthly reinsurance premium payments while collaborating with Actuarial and/or Finance to investigate unusual increases and decreases in premium payments
  • Calculate monthly reinsurance payments to all reinsurers through required systems
  • Reconcile accounting entries generated against general ledger entries
  • Reconcile death claim reporting to ensure correct recoverable amounts
  •  

    Quarterly/Annual Processing & Analysis

  • Calculate and send notices for premium taxes recoverable
  • Create and populate Schedule S template with information relating to reinsurance premiums by reviewing all monthly reports for accuracy against Finance Department data extracts and investigating/correcting discrepancies where necessary
  • Review and process reinsurance payments for indemnity and other specialty treaties
  • Provide detailed information and reports with explanation to internal auditors as required
  •  

    Reinsurance Development & Set Up

  • Collaborate with Actuarial & Product Development teams regarding new products impacting reinsurance, how to administer and how to navigate system constraints
  • Code reinsurance files and tables to allow auto assignment and set up files for facultative policy types to include treaty codes, allowances/rates and segments, retention limit files and treaty selection files
  • Test rate files and issue policies in test environment prior to new changes being moved to production
  • Set up reinsurance for A-List groups
  • Handle daily tasks for policy changes before and after issue
  •  

    Treaty/Amendment Execution

  • Work with Actuarial and Reinsurer, as well as other departments as needed, to create an acceptable treaty or amendment draft for management approval
  • Obtain all final approvals and subsequent signatures from necessary parties for execution
  • Items reviewed include general treaty provisions (across same and different reinsurers) and unusual provisions such as wording changes, retention limit changes and rate/allowance changes which are reviewed with Legal, Underwriting and Claims
  • Maintain finalized electronic records in archive directories along with any related documentation
  • Develop and maintain cross reference documentation to of treaties to system treaty coding
  • Verify or input appropriate treating coding in administrative system
  • Create and maintain list of processed treaties by calendar year for audit purposes
  •  

    External Audit Support

  • Provide support as required for audits by reinsurers and external auditors – respond to questionnaires, provide data samples and procedural documentation as required
  • System training to auditors to review back end data points directly within LGA systems as needed
  • Research and provide written responses to audit findings
  •  

    Retention Management

  • Manage risk amounts and retention levels at regular intervals to ensure compliance with treaty definitions
  • Review each death claim for compliance and accuracy of retention and ceded shares, and calculate manual adjustments as necessary for needed corrections
  •  

    In-Force Management & Conversions

  • Collaborate with Actuarial team regarding rate increases and recaptures by identifying blocks of enforce policies to develop and execute a plan to administer
  • Experience Studies
  • Administer by identifying blocks of impacted policies and developing a plan to change to experience study treaty with new rates
  • Report data on a regular basis on the study block
  • Review claims extracts to compile claims liabilities and interest
  • Review reinsurance assignments after any policy changes to make necessary adjustments
  • Set up treaty and rate files for term conversions as needed. Correct policies as necessary, setting retention and adding correct pool of reinsurers and treaty codes with rates and allowances
  • Handle daily tasks for internal replacements
  • Generate service requests, coordinate testing and elevate to production any issues to correct system deficiencies and/or to enhance reporting to reinsurers
  •  

    Other duties/projects as assigned

    Qualifications

    Education

    BS/BA in mathematics, finance or economics

     

    Experience/Knowledge

    2 years of accounting experience

    2 years of life insurance preferred

     

    Skills

    Knowledge of spreadsheet software, specifically access and excel

    Ability to reconcile accounts and data analysis

    Interface with reinsurers on administrative issues via phone, email and in person

    Research and investigation

    Building complex reports with trend analysis investigation and description

     

     

    What’s in it for you?

     

    The expected hiring compensation range for this position is $65,000 - $89,375 annually.  This position currently requires onsite reporting for up to three days per work week with flexibility of work from home days the remaining two.    

     

    The total compensation package for this position may include other elements, such as a sign-on bonus, long term incentives, and annual bonuses.  This role is eligible to participate in the Legal & General America Annual Incentive Plan. The current target payment for the position is 8% of base salary, modified for corporate and individual performance. Bonuses are pro-rated based on start date.  This role has 15 vacation days and 10 sick days that are accrued on a bi-weekly basis. Employees also have 9 paid holidays throughout the calendar year.

     

    We have a competitive compensation and benefits package focused on your overall wellbeing.  Employee benefits include health, life, and dental insurance; 401K with company match up to 6% as well as a pension package; generous time off; and wellbeing initiatives throughout the year (we like doing fun stuff).  We’re big on professional development and we’ll support and mentor you in your career progression and expect you to help us pay it forward by helping us develop tomorrow's leaders and growth-focused professionals. We value our teams and our communities and believe in giving back. Enjoy time off to volunteer for those causes that matter most to you!

     

    If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors. The Company reserves the right to change benefits plans at any time.

     

    We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. Please contact us to request accommodation.

     

  • 21 Days Ago

V
Ceded Reinsurance Manager
  • Vantage Risk Companies
  • Alexandria, VA FULL_TIME
  • About the Company Vantage Group Holdings Ltd. (Vantage) was established in late 2020 as a re/insurance partner designed for the future. Driven by relentless curiosity, our team of trusted experts prov...
  • 14 Days Ago

T
Office Specialist - Medical Office
  • TruGreen - Lawn Specialist
  • Beltsville, MD FULL_TIME
  • TruGreen is Now Hiring Lawn Specialists!00 per Hour - Comprehensive Benefits 00 per hour Average income is $850 - $1,200 per week* - Based on hourly rate and average bonuses earned for qualifying spec...
  • 20 Days Ago

T
Office Specialist, Now Hiring
  • TruGreen - Lawn Specialist
  • Upper Marlboro, MD FULL_TIME
  • TruGreen is Now Hiring Lawn Specialists!00 per Hour - Comprehensive Benefits 00 per hour Average income is $850 - $1,200 per week* - Based on hourly rate and average bonuses earned for qualifying spec...
  • 20 Days Ago

T
Office Specialist - Medical Office
  • TruGreen - Lawn Specialist
  • Chevy Chase, MD FULL_TIME
  • TruGreen is Now Hiring Lawn Specialists!00 per Hour - Comprehensive Benefits 00 per hour Average income is $850 - $1,200 per week* - Based on hourly rate and average bonuses earned for qualifying spec...
  • 20 Days Ago

T
Specialist, Medical Office
  • TruGreen - Lawn Specialist
  • Herndon, VA FULL_TIME
  • TruGreen is Now Hiring Lawn Specialists!00 per Hour - Comprehensive Benefits 00 per hour Average income is $850 - $1,200 per week* - Based on hourly rate and average bonuses earned for qualifying spec...
  • 20 Days Ago

Filters

Clear All

  • Filter Jobs by companies
  • More

0 Reinsurance Specialist jobs found in Centreville, VA area

Q
Sr. Manager, Sales Compensation Design (remote)
  • Quest Diagnostics
  • Chantilly, VA
  • Overview: The Senior Manager, Sales Compensation Design will work as an advisor to leaders to design pay plans that are ...
  • 3/28/2024 12:00:00 AM

P
Commercial Insurance Producer
  • Partner Insurance Advisors, Inc.
  • Fairfax, VA
  • Job Description Job Description **No Prior Experience necessary; we pay for all Licensing & our 10 Week Partner Training...
  • 3/28/2024 12:00:00 AM

B
Entry Level Insurance Sales Agent
  • Bankers Life
  • Chantilly, VA
  • Bankers Life® seeks professionals for a dynamic hybrid remote work environment. Start your insurance agent career and ea...
  • 3/27/2024 12:00:00 AM

B
Insurance Professional
  • Bankers Life
  • Chantilly, VA
  • Bankers Life®, one of the most respected brands in the Financial Services industry, is seeking ambitious individuals to ...
  • 3/27/2024 12:00:00 AM

B
Entry Level Sales Agent
  • Bankers Life
  • Chantilly, VA
  • Bankers Life® seeks professionals for a dynamic hybrid remote work environment. Start your insurance agent career and ea...
  • 3/25/2024 12:00:00 AM

A
Insurance Sales Representative - Top Allstate Agency
  • Angles Insurance
  • Chantilly, VA
  • Job Description Job Description Do you have experience selling in the Insurance and Financial field? Angles Insurance is...
  • 3/25/2024 12:00:00 AM

L
Remote Life Insurance Sales Agent
  • Lagniappe Agency (Symmetry Financial Group)
  • Fairfax, VA
  • Organization Description: No Cold Calling. Unique Sales and Ownership Opportunity. Commission Only Position Are you some...
  • 3/25/2024 12:00:00 AM

B
Entry Level Insurance Sales Agent
  • Bankers Life
  • Chantilly, VA
  • Bankers Life® seeks professionals for a dynamic hybrid remote work environment. Start your insurance agent career and ea...
  • 3/24/2024 12:00:00 AM

Centreville is a census-designated place (CDP) in Fairfax County, Virginia, United States and a suburb of Washington, D.C. The population was 71,135 at the 2010 census. Centreville is approximately 20 miles (32 km) west of Washington, DC. Centreville is located at 38°50′33″N 77°26′33″W / 38.84250°N 77.44250°W / 38.84250; -77.44250 (38.842470, −77.442621). According to the United States Census Bureau (2010), the CDP has a total area of 12.04 square miles (31.2 km²), 99% of it land....
Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia
Income Estimation for Reinsurance Specialist jobs
$63,033 to $81,601
Centreville, Virginia area prices
were up 1.3% from a year ago

Reinsurance Specialist in Mobile, AL
Our host, Robby Brayton, is a real-life Reinsurance Specialist.
February 05, 2020
Reinsurance Specialist in Springfield, MA
Guy Carpenter, a global risk and reinsurance specialist and business of Marsh & McLennan Companies, has appointed Mr Jeff Saper as CEO of the Pacific region with immediate effect.
January 25, 2020
Reinsurance Specialist in Cleveland, OH
Robert Rice recently emigrated from South Africa to join Aon’s life reinsurance solutions team in Australia as life reinsurance specialist, with the remit of enhancing and delivering Aon’s life reinsurance advisory and risk management solutions proposition to the Australian market.
January 19, 2020