Reinsurance Accounting & Claims Specialist

Howden Group; Edina (MN); On-site; USD 59,000 - 72,000; Full time

Job summary

Howden Re, a leading reinsurance broker, seeks an Accounting and Claims Associate in Edina, MN to manage loss notices, loss calculations, and settlements. You will process claims in our systems, ensure compliance with contract terms, and coordinate with reinsurers to move funds to clients promptly.

The role requires a degree (Bachelor’s/Associates), strong Excel skills, and proven teamwork with excellent communication and organizational abilities.

Qualifications

• Bachelor’s or Associates Degree required or equivalent experience.
• Minimum GPA of 3.0 as stated.
• Proficient with Microsoft Office Products, including Excel.
• Proven team player with excellent communication and organizational skills.
• Strong attention to detail and solid analytical acumen.
• Understanding of accounting and financial reporting principles and practices.
• Legally authorized to work in the US.

Responsibilities

• Receive initial loss notices, loss status updates and proofs of loss from clients and forward to applicable reinsurers.
• Confirm coverage under treaty review contract wording for retention & limit, LAE treatment, loss reporting requirements, loss attachment basis, etc.
• Prepare / review loss calculations to ensure accuracy and compliance with contract terms
• Process claims transactions in accounting and claims system
• Track the status of reinsurer settlements, periodically following for payment as necessary; promptly forward collected funds to client
• Attendance at client claims audits as needed
• Perform all reinsurance accounting functions for selected client accounts and provide backup coverage for other accounts as needed.
• Review new contract wordings for key terms and input 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; process accounting transactions in accounting and claims system
• Assist Clients with calculation of their Schedule F funding requirements and obtain Letters of Credit from Reinsurers, ensuring that all beneficiary requirements are met, and documents are received prior to company deadline
• Promptly forward all funds to payees in a timely manner
• Monitor brokerage revenue forecast and update as needed
• Monitor approval status of reinsurers and obtain approval of new reinsurers as needed
• Assist in the maintenance of reinsurer database

Skills

Excellent communication skills

Outstanding organizing abilities

Strong attention to detail

Solid analytical acumen

Understanding of accounting and f in a

Legally authorized to work in the US

Education

Bachelor’s or Associates Degree

Tools

Microsoft Office

Excel

Job description

Howden Re, a leading reinsurance broker, seeks an Accounting and Claims Associate in Edina, MN to manage loss notices, loss calculations, and settlements. You will process claims in our systems, ensure compliance with contract terms, and coordinate with reinsurers to move funds to clients promptly.

The role requires a degree (Bachelor’s/Associates), strong Excel skills, and proven teamwork with excellent communication and organizational abilities.