Reinsurance Specialist

Reinsurance Associate Inc.; Fenton (MO); On-site; USD 60,000 - 80,000; Full time

Benefits offered by this job

Competitive salary

Annual Performance Evaluation w/ Compensation Review

Paid vacation days

401K with company match

Health, AD&D, Life, and L/T Disability insurance

Dental and Vision insurance

Job summary

Reinsurance Associate Inc. is looking for a Reinsurance Specialist to support the management of profit participation programs and oversee administrative functions related to reinsurance. This role involves implementing new treaties, coordinating with various stakeholders, and managing the onboarding of new reinsurance companies.

The ideal candidate will hold a Bachelor's Degree in Accounting or Finance, possess 2-4 years of relevant experience, and demonstrate strong analytical skills. The position offers competitive salary, benefits, and a vibrant workplace environment.

Qualifications

• 2-4 years experience providing administrative support to insurance or reinsurance operations.
• Willingness to ask questions and learn.
• Proven analytical and critical thinking skills.

Responsibilities

• Support implementation of new treaties and program structures.
• Coordinate with trustees, investment advisors, and vendors.
• Monitor trust balances and funding requirements.
• Reconcile cession and trust account statements for accuracy.
• Prepare surplus calculations for client reinsurance companies.
• Manage onboarding of new reinsurance companies.
• Review quarterly profit share statements of active Dealers.
• Manage payments to Dealers under profit share agreements.
• Maintain database of current reinsurance company partners.
• Participate in calls or meetings with Underwriters and Vendors.

Skills

Analytical skills

Critical thinking

Desire to learn

Training aptitude

Education

Bachelor's Degree in Accounting, Finance or related major

Job description

Company Description

Wise F&I delivers industry-leading administration services for automotive F&I-related, voluntary protection products such as VSC, Appearance, Tire & Wheel, Key Replacement, GAP and Theft-deterrent protection. We process and adjust claims for these contracts within programs that are underwritten by only Excellent (A- or better) rated Insurance Carriers. As a rapidly growing automotive F&I product provider with over 30 years of continuous operation in the Automotive F&I space, our operating partners include seasoned Insurance Agents, national Lenders and their client Automotive Dealers.

Primary Job Function

The Reinsurance Specialist supports the Director of Profit Participation Programs in the management and oversight of the Company's profit participation programs including both reinsurance and profit share programs. This includes management and oversight of all associated administrative functions.

Job Responsibilities / Tasks include

• Support implementation of new treaties and program structures for the Company's various reinsurance programs.
• Coordinate with associated trustees, investment advisors and vendors such as GPW.
• Manage the issuance and/or storage of the monthly reinsurance cession statements and associated trust account statements to all applicable parties.
• Monitor trust balances, surplus positions, and funding requirements pursuant to reinsurance agreement provisions including inactivity and excessive loss experience.
• Reconcile cession and trust account statements so as to ensure accuracy and procedures are being followed.
• Prepare surplus calculations for client reinsurance companies utilizing parameters listed in the reinsurance agreement(s).
• Manage the formation and onboarding of new reinsurance companies.
• Review the quarterly profit share statements for all active Dealers with an eye on non-production and slipping performance. Initiate communication and/or corrective action as needed.
• Manage the onboarding of a Dealer to a profit share program.
• Manage the issuance and delivery of payments to Dealers when due under the profit share agreement(s).
• Assist with maintaining the database of all current reinsurance company partners and any changes or additions to their personnel contacts.
• Participate in all conference calls or meetings with applicable Underwriter(s), Trustee(s) or Vendor(s).

Required Skills / Experience

• Bachelor's Degree in Accounting, Finance or a related major.
• Willingness and desire to ask questions and learn.
• 2-4 years experience providing administrative support to insurance or reinsurance operations.
• Proven analytical and critical thinking skills.
• Aptitude for training and teaching.

Comprehensive Benefits

• Competitive salary wage (40 hrs/week)
• Annual Performance Evaluation w/ Compensation Review
• Bright, Modern Work Spaces
• 9 Paid Holidays (per year)
• Paid Vacation Days
• 401K Retirement Plan (100% company match up to 4% of income w/ immediate vesting)
• Insurance - paid benefits include Health, AD&D, Life and L/T Disability
• Voluntary benefits include Dental, Vision, Life and S/T Disability

Convenient suburban location near intersection of I-270 and I-44 in southwest St. Louis County. We are an Equal Opportunity Employer.