ProSight Specialty Insurance

  • Reinsurance Operations Analyst

    Job Locations US-NJ-Morristown
    Posted Date 3 weeks ago(5/31/2019 1:04 PM)
    Job ID
    # of Openings
  • Overview

    The successful candidate will be part of a team that works closely with the Reinsurance Operations Supervisor to ensure that reinsurance contracts are properly administered and accounted for on an “end-to-end” basis. The Reinsurance Operations Analyst will learn the terms and conditions for assigned contracts, make premium payments, bill and collect reinsured losses, review system calculations, send account statements and calculate premium adjustments – all on a timely basis. Additional responsibilities include identifying process and internal control improvements, maintaining documentation in accordance with the Company’s policies and procedures, and assisting with miscellaneous related ad hoc projects.


    • Learn and understand ProSight’s business and reinsurance programs, including all relevant informational workflows
    • Learn and understand the insurance and reinsurance systems used to record and maintain data necessary for reinsurance-related operational activity, financial accounting, reporting and analysis
    • Learn the pertinent terms and conditions for each assigned reinsurance contract
    • In coordination with the Reinsurance Procurement Team, confirm the accuracy of the reinsurance attachment criteria setup in the Company’s reinsurance system
    • Monitor and validate periodic reinsurance system calculations of reinsurance balances
    • Identify and remediate data or system issues affecting the accuracy of automated calculation of reinsurance balances
    • Quantify any necessary periodic financial statement adjustments related to reinsurance balances to support the monthly financial close
    • Assist in the preparation, analysis and review of Schedule F
    • Analyze and explain periodic financial results for each assigned reinsurance contract
    • Record and reconcile cash transactions (e.g., ceded premium payments, ceded loss collections, premium adjustments, etc.) on a timely basis
    • Prepare premium adjustments and account statements on a timely basis
    • Prepare reinsurance premium payments and ceded loss notices/bills, including calculation of any reinstatement premiums
    • Follow-up on cash collections for ceded recoverable balances
    • Ensure that cash transactions are accurately applied in the reinsurance system
    • Communicate with and respond to reinsurance brokers and/or reinsurers accurately and timely
    • Collaborate with other departments (e.g., Actuarial, Reinsurance Procurement, Finance, IT, etc.) to complete various assignments
    • Demonstrate the ability to work effectively either independently or within a group, and to communicate proactively and clearly both verbally and in writing with team members and management


    • 1-2 years of relevant work experience in the insurance industry
    • Bachelor’s degree, preferably in a business-related field of study – Accounting a plus, but not required
    • Working knowledge and experience with various forms of reinsurance (e.g., XOL, Q/S, Facultative, etc.)
    • Familiarity US GAAP & STAT insurance and reinsurance accounting and reporting
    • Advanced MS Excel skills, and familiarity with MS Access, SQL and other data analysis tools is a plus
    • Organized, clear and effective verbal and written communication
    • Strong organizational and multi-tasking capabilities, with the flexibility to re-prioritize as needed
    • Enthusiasm for working in a fast-paced, dynamic, growth-oriented environment


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