Reinsurance Program Lead

Pekin Insurance; Pekin (IL); On-site; USD 120,000 - 180,000; Full time

Job summary

Pekin Insurance in Pekin, IL seeks a Reinsurance Program Lead to oversee reinsurance operations, accounting, and administration, ensuring accurate contracts, timely reporting, recoverables management, and regulatory compliance.

The role partners with Finance, Underwriting, Claims, Actuarial, and external brokers and reinsurers to support execution of the reinsurance strategy and drive process improvements.

Qualifications

• Bachelor’s degree in Insurance, Finance, Risk Management, Mathematics, or related field.
• Typically requires 7+ years of progressive reinsurance or insurance experience.

Responsibilities

• Oversee day-to-day administration of treaty and facultative reinsurance programs.
• Oversee reinsurance accounting: ceded premium, loss reporting, recoverables, settlements, reconciliations.
• Ensure timely reporting to reinsurers, brokers, auditors, and regulators.
• Monitor recoverables and coordinate with Claims/Finance to collect balances.
• Coordinate renewal activities with data, financial analyses, and supporting docs for management and partners.
• Review contracts to ensure processes align with provisions and resolve issues.
• Maintain accurate reinsurance records and support audits with documentation.
• Prepare management reports on ceded results, recoverables, and treaty activity.
• Identify opportunities to improve reinsurance processes and system efficiency.
• Perform other duties as assigned.

Skills

Leadership

Analytical

Communication

Negotiation

Time management

Problem solving

Education

Bachelor’s degree in Insurance, Finance, Risk Management, Mathematics, or related field

Tools

Microsoft Office

Job description

Position Overview

The Reinsurance Program Lead is responsible for overseeing the company's reinsurance operations, accounting, and administration while supporting the execution of the organization's reinsurance program. This role ensures the accurate administration of reinsurance contracts, timely financial reporting, recoverables management, and compliance with contractual, regulatory, and accounting requirements. Working closely with Finance, Underwriting, Claims, Actuarial, and external brokers and reinsurers, the Reinsurance Program Lead provides operational and financial support that enables the effective execution of the company's reinsurance strategy.

Essential Job Functions

• Manages the day-to-day administration of treaty and facultative reinsurance programs, ensuring accurate implementation of contract terms
• Oversees reinsurance accounting activities, including ceded premium and loss reporting, recoverables, settlements, and account reconciliations
• Ensures timely and accurate reporting to reinsurers, brokers, auditors, and regulatory agencies
• Monitors reinsurance recoverables and collaborates with Claims and Finance to facilitate timely collections and resolve outstanding balances
• Coordinates reinsurance renewal activities by preparing data, financial analyses, and supporting documentation for management, brokers, and reinsurers
• Reviews reinsurance contracts to ensure operational processes align with contract provisions and identify potential issues requiring resolutionPartners with Underwriting, Actuarial, Finance, and Claims to support the administration and financial reporting of the reinsurance program
• Maintains accurate reinsurance records and documentation, ensuring compliance with internal controls, accounting standards, and regulatory requirements
• Supports internal and external audits by providing requested documentation, reconciliations, and analysis
• Prepares recurring management reports and analyses related to ceded results, recoverables, treaty activity, and operational performance
• Identifies opportunities to improve reinsurance processes, controls, reporting, and system efficiency
• Performs other duties as assigned

Required

Education & Experience

• Bachelor’s degree in Insurance, Finance, Risk Management, Mathematics, or related field
• Typically requires 7+ years of progressive reinsurance or insurance experience

Preferred Or Specialized

• N/A

Certifications & Licenses

• CPCU, ARe, or FCAS/ASAS designations preferred

Knowledge, Skills & Abilities

Demonstrated ability to:

• influence executive-level decision-making
• communicate effectively in both oral and written form
• handle difficult and stressful situations with professional composure
• analyze, organize, and prioritize work while meeting multiple deadlines
• organize and reason in a logical manner

Demonstrated Skill In

• leadership, analytical, and communication
• negotiating with reinsurers and brokers
• managing one’s own time and working independently
• customer service

Demonstrated Knowledge Of

• capital modeling and enterprise risk management
• property & casualty insurance operations
• reinsurance accounting and regulatory reporting
• treaty structures, facultative placements, and catastrophe management
• Microsoft Office software