Reinsurance Financial Associate

Zurich Insurance • Schaumburg, IL

72d • Hybrid

About The Position

This role sits within Group Reinsurance at Zurich North America and reports to the Multinational Facultative Reinsurance Manager. You'll be part of a collaborative team that plays a key role in supporting Zurich's risk strategy by ensuring accurate execution of ceded reinsurance transactions and partnering across finance, actuarial, underwriting, claims, and global reinsurance teams. The Reinsurance Financial Associate will support the accounting of reinsurance transactions, with a focus on maintaining accurate records and reconciliations for ceded premium payable and ceded loss recoverable accounts. You will be responsible for settling ceded premium payables and preparing regular loss bordereaux reports and facultative claims billings, helping ensure timely collection of ceded loss recoverable balances.

Requirements

• Bachelor's degree and no prior experience required in the Reinsurance areaOR
• High School Diploma or Equivalent and 2 or more years of experience in the Reinsurance area

Nice To Haves

• Prior experience to include a combination of accounting, reporting, insurance, reinsurance, and financial analysis .
• Knowledge of reinsurance claim recoverable process and its link to direct claim processing.
• Comfortable working in team settings.
• Ability to interact with the business unit and customers, utilizing strong interpersonal skills and communication skills.
• Intermediate level Microsoft Office skills experience (Excel, Word, Outlook, etc).
• Familiarity with general ledger and financial reporting systems.

Responsibilities

• Analyze and apply proper accounting and operational procedure for reinsurance contracts and transactions.
• Review reinsurance reporting, reconcile reinsurance-related activity, investigate discrepancies, identify issues, and coordinate timely resolutions with internal and external stakeholders.
• Settle ceded premium in accordance with contract terms, internal control procedures, and department standards.
• Prepare loss bordereaux reports and facultative loss billings.
• Reconcile ceded premium payable and ceded loss recoverable subledger activity, providing documentation for management reports.
• Prepare reinsurance journal entries.
• Lead relationship and communication with internal Zurich business partners and external reinsurance customers within area of responsibility, including timely response to all external inquiries as prescribed by department standards.
• Responds to basic internal and external audit inquiries and supports reinsurance audits.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 5,001-10,000 employees