Accounting and Claims Associate
Howden · Edina, 7701 France Avenue South, United States
Howden Re is the global reinsurance broker and risk, capital & strategic advisor focused on relentless innovation & superior analytics for top client service.
About Role
Primary Responsibilities:
- Receive initial loss notices, loss status updates and proofs of loss from clients and forward to applicable reinsurers.
- Confirm coverage under treaty review contract wording for retention & limit, LAE treatment, loss reporting requirements, loss attachment basis, etc.
- Prepare / review loss calculations to ensure accuracy and compliance with contract terms
- Process claims transactions in accounting and claims system
- Track the status of reinsurer settlements, periodically following for payment as necessary; promptly forward collected funds to client
- Attendance at client claims audits as needed
- Perform all reinsurance accounting functions for selected client accounts and provide backup coverage for other accounts as needed.
- Review new contract wordings for key terms and input into the accounting and claims system
- Monitor contractual reporting and payment due dates and request premiums and accounts from clients to ensure timely receipt
- Prepare reporting forms and adjustment calculations for client use as needed
- Review client accounts and adjustment calculations for accuracy and compliance with contract terms; process accounting transactions in accounting and claims system
- Assist Clients with calculation of their Schedule F funding requirements and obtain Letters of Credit from Reinsurers, ensuring that all beneficiary requirements are met, and documents are received prior to company deadline
- Promptly forward all funds to payees in a timely manner
- Monitor brokerage revenue forecast and update as needed
- Monitor approval status of reinsurers and obtain approval of new reinsurers as needed
- Assist in the maintenance of reinsurer database
Qualifications:
- Bachelor’s Degree
- Proficient with Microsoft Office Products, including Excel
- Proven team player
- Excellent communication skills
- Outstanding organizing abilities
- Strong attention to detail
- Solid analytical acumen
- Understanding of accounting and financial reporting principles and
- Legally authorized to work in the US
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The expected compensation range for this role is $65,000 per year.