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Berkley Reinsurance Analyst in Minneapolis, Minnesota

Berkley Risk is a national provider of at-risk and alternative risk insurance program management services. We are a one-stop, total insurance management solution for Pools, Captives, Trusts, RRGs, RPGs and other individual and group self-insureds.

As program manager we provide transparent, turn-key insurance solutions that simplify the insurance process and minimize our customers’ total cost of risk over the long term.

We are a member company of W.R. Berkley Corporation, a Fortune 500 holding company.

The Reinsurance Analyst is responsible for the administration of reinsurance plans including supporting the data recording and analysis within the company’s reinsurance systems and loss development reporting. It will also support the underlying reporting required for all reinsurance treaties.

Specific Duties

  • Research and analyze reinsurance prices and specifications.

  • Develop, manage and maintain relationships with reinsurance brokers and reinsurance markets to facilitate placements, execution of contract wording, timely claims payments and to gain market intelligence.

  • Understand Operating Unit’s business strategy and customers reinsurance objectives.

  • Prepare and present reinsurance terms and conditions to Program customers.

  • Support business development and customer retention objectives of Operating Unit.

  • Plan the company’s reinsurance programs to ensure timely negotiations of both treaty and facultative reinsurance with reinsurers and brokers.

  • Support the investigation of proposed reinsurance opportunities, rate comparisons, and profitability analysis.

  • Prepare accounting entries related to reinsurance, losses, and closing entries to finalize financial reporting to regulatory authorities.

  • Coordinate and prepare cession statements, and payable receivable balances by treaty participant for an updated view of the companies’ cashflows and credit risk per active treaty.

  • Communicate with underwriting to verify the proper reinsurance administration is in place.

  • Support compliance by maintaining appropriate documentation

  • Coordinate and manage all external reinsurance underwriting audits as well as Manage and/or conduct field audits for compliance

  • Support the generation of Schedule P (losses), Schedule F (reinsurance) and status of letters of credit for statutory reporting.

May perform other functions as assigned.

  • Bachelor’s degree in Business or related field, or equivalent work experience, required

  • Experience using Microsoft products and other BI data analysis tools, such as Power BI or similar programs

  • Detailed oriented, organizational skills and ability to prioritize and multi-task work

  • Strong team orientation, collaborating with co-workers and clients to develop and implement solutions

  • Excellent communication and presentation skills (written and oral)

  • Agility and ability to work in ambiguous situations

Berkley Core Competencies

  • Accountability

  • Communication

  • Customer Focus and Teamwork

Job ID: 2020-4191

Name: Berkley Risk Admin. Co., LLC

Street: 222 S 9th Street

Industry:

Insurance

Seniority Level:

Associate

Job Functions:

Customer Service

Employment Type:

Full-Time

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