Reinsurance Accounting & Claims Analyst (Internship starting 2/1/20, full-time starting June, 2020)
Reinsurance Accounting and Claims Analyst
BMS is reshaping insurance. We provide global comprehensive, customized solutions for wholesale, reinsurance and direct insurance. BMS is a dynamic global broker with a broad range of insurance and reinsurance expertise and ability to provide leading capital markets advisory services. We are an independent and employee owned specialist with a proven history of delivering tailored solutions for our clients. We go beyond merely understanding a client’s business, immersing ourselves and bringing creativity and innovative ideas. BMS Re US is currently looking for an Intern to join our Edina office in February, 2020 with the possibility of joining BMS upon graduation.
Position Summary:
Facilitate reinsurance accounting and claims activity and provide technical reinsurance expertise for clients, reinsurers, and BMS Sales teams. Assist Manager and team members with developing creative solutions to enhance client service and implement processes and procedures to improve consistency and drive efficiencies.
Essential Responsibilities:
- Serve as accounting and claims liaison between ceding companies and reinsurers. Responsible for:
- Reviewing and understanding terms of reinsurance contracts and program structures.
- Timely receipt and transmittal of accounts, adjustments and premium transactions including collection of funds and disbursement to clients/reinsurers.
- Prompt evaluation and processing of reinsurance claims in accordance with contract language and company standards.
- Manage collection of funds, queries and outstanding issues between reinsurers and ceding companies until resolution. Conduct timely and regular claim follow-ups.
- Evaluate clients’ potential unauthorized reinsurance penalties and obtain funding of reserves from unauthorized reinsurers.
- Regular communication of relevant information to Manager, Accounting and Claims Team and Sales Teams.
- Produce and respond to written and verbal communications effectively and appropriately within company standards.
- Adapt quickly to rapidly changing technologies and systems.Work with team to create effective and efficient processes and solutions.Work with team to ensure system conversions flow smoothly.
- Coordinate client integration and data transfers.
- Maintain paperless files and reports to assist in the performance of assigned responsibilities.
- Perform specialized functions and special projects as requested.
Successful candidates will possess the following required skills and experience:
- May, 2020 Bachelor’s degree from a four year college or university or equivalent preferably in Accounting, Finance, Math, Economics or other similarly quantitative or analytically oriented major
- Ability to see big picture with excellent attention to detail and follow through
- Ability to manage time, prioritize and work to deadlines; adept at multi-tasking with strong organizational skills
- Highly collaborative personality with ability to maintain positive client relationships; flexible to meet the needs and demands of a fast-paced work environment
- Ability to make good decisions using independent judgment
- Advanced skills in Microsoft Excel, Word and Outlook
Applicants must be authorized to work for ANY employer in the US. We are unable to sponsor or take over sponsorship of employment Visa.