Zurich North America is hiring a Reinsurance Analyst to join their team in Schaumburg. The role involves managing all aspects of reinsurance collateral, ensuring compliance with regulatory standards, and supporting financial reporting activities while collaborating with internal business partners.
Responsibilities
- Process all collateral requests, including new establishments, increases, decreases, and cancellations
- Validate that all collateral instruments meet regulatory and company requirements
- Maintain and update the collateral SharePoint site to ensure accuracy and accessibility of supporting documentation
- Support the monthly close process by loading and reconciling collateral data within the Reinsurance Data Store (RDS) Business Objects (BOE) data-mart
- Conduct the annual bank confirmation audit and oversee the physical vault review of collateral instruments
- Prepare and submit quarterly internal collateral reporting
- Provide documentation and support for internal and external audits involving reinsurance collateral
- Collaborate with internal teams, including Reinsurance Finance, Credit Risk, and Asset Management to ensure accurate processing and expected movement of collateral
- Communicate proactively to resolve issues and align collateral requirements and timelines
- Adhere to established policies, procedures, and operational standards related to reinsurance collateral
- Identify potential issues, discrepancies, or risks and escalate them to management accordingly
- Respond to inquiries from internal and external stakeholders in a timely, professional manner
- Maintain strong relationships with business partners to support efficient and compliant collateral management
Skills
- Bachelor's Degree and No prior experience required in the Reinsurance area OR High School Diploma or Equivalent and 2 or more years of experience in the Reinsurance area
- Strong organizational skills
- Knowledge of accounting concepts
- Understanding of financial reporting processes
- Understanding of internal controls and the audit function
- Intermediate background with Share Point, Excel, and other MS Office Suite applications
- Background with Business Objects
- General Ledger SAP
- Ability to multitask
- Strong verbal and written communication skills
Benefits
- Short-term incentive bonus eligibility set at 10%
- Competitive pay and comprehensive benefits for employees and their families
Company Overview
Zurich American Insurance is an international commercial property-casualty insurance provider. It is a sub-organization of Zurich Insurance Group. It was founded in 2016, and is headquartered in Schaumburg, Illinois, USA, with a workforce of 5001-10000 employees. Its website is https://www.zurichna.com.