Ceded Reinsurance Operations Analyst

Sompo International; Morristown (TN); On-site; USD 75,000 - 130,000; Full time

Benefits offered by this job

Health insurance

401(k) plan

Paid time off

Parental leave

Job summary

Sompo International is seeking a Ceded Reinsurance Operations Analyst to support the Ceded Reinsurance team. Location options include New York City or Morristown, NJ.

You will manage ceded placements, ensure accurate FSRI coding, and collaborate with accounting to confirm ceded results align with treaty terms for global lines. Ideal candidates have 5+ years in reinsurance, strong communication and analytical skills, and proficiency in MS Office; FSRI or SAP experience is preferred.

Qualifications

• Minimum 5 years of reinsurance experience.
• Strong communication and interpersonal skills.
• Highly organized with the ability to prioritize projects and meet deadlines.
• Proficiency in Microsoft Office Suite; FSRI or SAP preferred.
• Undergraduate degree or equivalent demonstrable industry experience.

Responsibilities

• Manage ceded contract placements in FSRI.
• Collaborate with the Buying team for accurate FSRI coding.
• Ensure data accuracy and reconcile ceded results with reinsurance agreements.
• Analyze issues raised by ceded accounting and related systems.
• Maintain SOX controls and treaty population documentation.
• Participate in ad hoc projects including onboarding new business lines and system upgrades.

Skills

Communication

Organization

Analytical thinking

MS Office

Cross-functional collaboration

Education

Undergraduate degree

Tools

FSRI

SAP

Job description

Job Description

Are you looking for your next opportunity?

Sompo has a unique opportunity for a Ceded Reinsurance Operations Analyst in our Ceded Reinsurance team.

Our Ceded Reinsurance team is a globalized customer focused, dedicated and professional organization.The team is responsible for the purchasing and management of Ceded Reinsurance placements.The Ceded Operations team provides operations process support and analysis and align to a structure within the Ceded Purchasing team supporting the front-end business functions of Property, Casualty, Assumed Treaty Reinsurance and Specialty.

Location: This position will be based out of our New York City or Morristown, NJ office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.

Our business, your impact, our opportunity:

What you’ll be doing:

• Manage ceded contract placements and set up ceded contract information in the sub-ledger system (FSRI)
• Collaborate with the Buying team to ensure accurate coding in FSRI in accordance with contract wording
• Ensure data accuracy, coordinating reconciliation with the accounting team to confirm ceded results align with reinsurance agreement terms for global businesses
• Conduct analysis and develop solutions for issues raised by ceded accounting and other departments related to ceded system calculations
• Maintain and develop routine controls to ensure accuracy of ceded financials as calculated by the system
• Maintain SOX control documentation, including treaty setup and treaty population completeness controls
• Participate in ad hoc projects, including onboarding new business lines, testing system upgrades, data enhancements, and process documentation

What you’ll bring:

• Minimum 5 years of related work experience in reinsurance and reinsurance concepts
• Excellent communication and interpersonal skills, with the ability to work collaboratively across teams and functions
• Highly organized and self-motivated, with a proven ability to prioritize projects and meet deadlines
• Strong analytical acumen and logical problem-solving abilities
• Proficiency in Microsoft Office Suite; experience with underwriting or financial systems, FSRI, or SAP preferred
• Undergraduate degree or equivalent demonstrable industry experience

Salary Range: $75,000-$130,000. Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.

At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.

Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.

We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:

• Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution
• Pharmacy benefits with mail order options
• Dental benefits including orthodontia benefits for adults and children
• Vision benefits
• Health Care & Dependent Care Flexible Spending Accounts
• Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children
• Company-paid Disability benefits with very competitive salary continuation payments
• 401(k) Retirement Savings Plan with competitive employer contributions
• Competitive paid-time-off programs, including company-paid holidays
• Competitive Parental Leave Benefits & Adoption Assistance program
• Employee Assistance Program
• Tax-Free Commuter Benefit
• Tuition Reimbursement & Professional Qualification benefits

In today’s world, what do we stand for?

Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo.

Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone’s unique contributions – we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.