Reinsurance Operations Analyst

Sun Life•Hartford, CT

About The Position

Reinsurance Operations Analyst within group reinsurance administration who supports Sun Life's excess reinsurance treaties. Incumbent may assist with reporting responsibilities among the other members in the department to share knowledge and enhance procedures and processes utilizing best practices to ensure timely and accurate reporting of values in accordance with the governing treaties. The position will support internal customers (e.g., Group Reinsurance Accounting, Finance, Actuarial, etc.) as well as external partners, primarily the reinsurers and their representatives. Additional interactions with the EBG and Stop Loss business areas will occur as needed to support the business.

Requirements

Must understand what reinsurance is and how group ceded reinsurance works (including an understanding of coinsurance and YRT reinsurance).
Must comprehend reinsurance treaties and the requirements described within those of both the reinsurers and the ceding company.
Strong written communication skills required. Ability to communicate in a clear and concise manner.
A working knowledge of Group (Life, Health) and Stop Loss products.
Moderate to advanced Excel and Access skills, including Visual Basic and the ability to troubleshoot database issues.
Basic skills in accounting and ledger entries
Well organized with a strong attention to detail, but also able to see the “bigger picture.”
Demonstrated ability to develop, maintain and enhance process documentation.
Three to five years of experience in Financial Operations, preferably in Reinsurance Administration or Accounting role(s).
Bachelor’s Degree in Finance, Accounting or Business Administration.

Nice To Haves

Python, Tableau or Dataiku a plus.

Responsibilities

Preparing and processing accrual reporting requirements for submission to Finance on a monthly basis. Monthly files are due by the third business day of each month.
Preparing monthly results reporting for submission to Finance during the month-end close cycle
Receive data files from Finance, premiums and claims systems to prepare and submit settlement report to reinsurers.
Perform reasonableness checks on period-to-period movement. Identify and document reasons for larger fluctuations.
Ensure premium and claim amounts are accurate and reasonable month to month and quarter to quarter.
Coordinate and ensure payments to and collections from Reinsurers are made in a timely manner in accordance to the treaties.
Reinsurance Operations backup liaison between Reinsurers and Sun Life. Track, research and resolve inquiries made by Reinsurers. As needed, work with members of Group Valuation, Group Systems, Reinsurance Operations Management and Finance to resolve the issues.
Work with Reinsurance Operations Management and other departments as necessary to implement solutions if repeat issues are identified.
Resolve and respond to inquiries made by Finance. As in the case of inquiries made by external Reinsurers, work with Reinsurance Operations Management and other departments as necessary to implement solutions.
Participate in the implementation of new reinsurance treaties and treaty amendments as needed.
Participate in periodic Reinsurance Administration audits, exams and walkthroughs
Assist with special projects as time permits.
Support work requests for bug fixes and systems enhancements.

Benefits

At Sun Life, we prioritize your well-being with comprehensive benefits, including generous vacation and sick time, market-leading paid family, parental and adoption leave, medical coverage, company paid life and AD&D insurance, disability programs and a partially paid sabbatical program.
Plan for your future with our 401(k) employer match, stock purchase options and an employer-funded retirement account.
Enjoy a flexible, inclusive and collaborative work environment that supports career growth.

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