Facultative Reinsurance Process Analyst

Starr Insurance Companies is a leading insurance and investment organization, providing commercial property and casualty insurance, including travel and accident coverage, to almost every imaginable business and industry in virtually every part of the world.

Cornelius Vander Starr established his first insurance company in Shanghai, China in 1919. Today, we are one of the world's fastest growing insurance organizations, capable of writing in 128 countries on 6 continents.

The successful candidate will function within the Starr Reinsurance Operations team. The primary objective of the Facultative Reinsurance Process Analyst is the timely and accurate booking of facultative reinsurance. This includes the end-to-end quality review of all data elements, coding documentation, and reinsurance system results. This also includes participation in process improvement, data quality control, reporting initiatives and financial reconciliation activities. The Facultative Reinsurance Process Analyst will collaborate with all units across the Starr enterprise engaged in the processing and support of facultative reinsurance.

Describe the duties and responsibilities of the position:

Facultative Reinsurance Premium Booking

• Daily processing, quality review and completion of assigned facultative reinsurance premium booking transactions in the Starr ReinsurancePro (Sapiens) system, ensuring correct facultative cessions.

• Review the facultative reinsurance premium booking data and documentation to ensure submissions completed accurately, within Starr reinsurance guidelines and service level agreements.

• Maintain the accuracy of assigned work items in the Starr Reinsurance Bound Not Booked (BNB) Reporting Tool; the analyst is responsible for ensuring the BNB Report data is accurate and entered on time to provide up to date and reliable metrics on facultative reinsurance submission premium booking activity.

• Handle complex facultative reinsurance agreements and exceptions to the standard reinsurance workflow.

• Lead the collaboration with appropriate reinsurance resources (i.e., Underwriting, Reinsurance, Accounting, Finance, Legal, Technology, Underwriting, & Underwriting Operations, etc.) to report and provide resolution to data quality and processing issues that prevent the accurate and prompt completion of facultative reinsurance premium booking transactions and/or have generated incorrect premium booking results.

• Review and facilitate responses to quality control reports to ensure that facultative reinsurance tasks, data and documentation are compliant with Reinsurance Service Level Agreements, Reinsurance Guidelines, and Reinsurance systems (i.e., eReinsure (eRe), ReinsurancePro, etc.) requirements.

• Contribute to the production of recurring status reports on facultative reinsurance premium booking activity.

Effective Communication and Team Collaboration

• Translate facultative reinsurance processing activities and objectives in a manner appropriate for various audiences and stakeholders during 1-on-1 interactions, meetings and/or conference calls.

• Own the identification, escalation, and monitoring of issues from reporting to remediation within expected time parameters.

• Review facultative reinsurance transactions generated by other team members and provide constructive feedback in meetings or written form when required.

• Follow departmental workflow processes and work in a transparent manner.

Business Analysis & User Acceptance Test (UAT)

• Participate in process improvement workshops to identify opportunities to improve facultative reinsurance workflow and systems; contribute to the end-to-end software development life cycle (SDLC): Business Requirements, Testing, Project Management meetings, etc.).

• Participate in User Acceptance Test (UAT) initiatives to verify new system functionality (i.e., enhancements and corrections) works correctly based on business requirements.

• Ensure all processing issues are reported, tracked, escalated, and resolved within established time limits; assume ownership of the end-to-end problem resolution of all issues encountered by assigned facultative reinsurance booking transactions.

• Contribute to project Post-Mortem discussions and documentation to apply lessons learned to each succeeding project.

Ad-Hoc Tasks & Projects.

• Completion of ad-hoc tasks and projects.

Skills/Experience Required:

• Minimum of 5 Years of experience in the insurance & reinsurance industry.

• Bachelor's degree preferably in business-related field of study.

• Strong knowledge and experience with reinsurance (i.e., Facultative Reinsurance, Treaty Reinsurance, Excess of Loss (XOL), Quota Share/Pro-Rata Reinsurance, etc.).

• Experience with the ReinsurancePro (formerly known as the Universal Reinsurance System - URS) preferred.

• Meticulous attention to detail.

• High-level of self-management; independent worker with analytical skills that can contribute to multiple projects.

• Strong interpersonal and collaborative skills; collaborate across groups & functions in a fast-paced setting.

• Effective presentation skills; strong verbal communications skills and strong writing ability.

• Proficiency with Microsoft Office Suite applications (i.e., Excel, OneNote, Outlook, Project PowerPoint, Teams, Word).

• Chartered Property Casualty Insurance (CPCU) and / or Associate in Reinsurance (Are) designations preferred.

Starr is an equal opportunity employer, which means we'll consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we're committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.