Accounting and Claims Associate

Howden•Edina, MN

25d

About The Position

Howden Re is a global reinsurance broker and risk, capital, and strategic advisor focused on innovation and analytics for client service. The Accounting and Claims Associate handles reinsurance claims and accounting activities for selected client accounts, supports other accounts as needed, and helps ensure transactions, reporting, and payments comply with contract terms and deadlines.

Requirements

Bachelor’s degree.
Proficiency with Microsoft Office products, including Excel.
Proven ability to work as a team player.
Excellent communication skills.
Outstanding organizing abilities.
Strong attention to detail.
Solid analytical acumen.
Understanding of accounting and financial reporting principles.
Legally authorized to work in the United States.

Responsibilities

Receive initial loss notices, loss status updates, and proofs of loss from clients and forward them to applicable reinsurers.
Review treaty contract wording to confirm coverage, retention and limit, loss adjustment expense treatment, loss reporting requirements, and loss attachment basis.
Prepare and review loss calculations for accuracy and compliance with contract terms.
Process claims transactions in the accounting and claims system.
Track reinsurer settlements, follow up on payments as needed, and promptly forward collected funds to clients.
Attend client claims audits as needed.
Perform reinsurance accounting functions for selected client accounts and provide backup coverage for other accounts as needed.
Review new contract wordings for key terms and enter them into the accounting and claims system.
Monitor contractual reporting and payment due dates and request premiums and accounts from clients to ensure timely receipt.
Prepare reporting forms and adjustment calculations for client use as needed.
Review client accounts and adjustment calculations for accuracy and compliance with contract terms and process accounting transactions in the accounting and claims system.
Assist clients with calculating Schedule F funding requirements and obtain Letters of Credit from reinsurers, ensuring beneficiary requirements are met and documents are received before company deadlines.
Forward funds to payees promptly and in a timely manner.
Monitor and update brokerage revenue forecasts as needed.
Monitor reinsurer approval status and obtain approval for new reinsurers as needed.
Assist in maintaining the reinsurer database.