Reinsurance Operations Analyst

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Job Description Summary:

• Reinsurance Operations Analyst within group reinsurance administration who supports Sun Life's Generali reinsurance treaties, a foreign reinsurer located in Luxembourg. Incumbent may assist with reporting responsibilities among the other members in the department to share knowledge and enhance procedures and processes utilizing best practices to ensure timely and accurate reporting of values in accordance with the governing treaties. The position will support internal customers (e.g., Group Reinsurance Accounting, Finance, Actuarial, etc.) as well as external partners, primarily the reinsurers and their representatives. Additional interactions with the EBG and Stop Loss business areas will occur as needed to support the business.

Skills:

• Must understand what reinsurance is and how group ceded reinsurance works (including an understanding of coinsurance and YRT reinsurance).
• Must comprehend reinsurance treaties and the requirements described within those of both the reinsurers and the ceding company.
• Strong written communication skills required. Ability to communicate in a clear and concise manner with foreign reinsurers, captive managers and Sun Life management. Partnerships with Stop Loss Captive programs and GEB are high profile relationships within Sun Life.
• A working knowledge of Sun Life’s Employee Benefits Group (Life, Health and Stop Loss) systems.
• Excel and Access skills, including Visual Basic and the ability to troubleshoot database issues.
• Must be familiar with Access queries and integrate with Excel for distribution to reinsurers, captive managers or to others at Sun Life for further research.
• Well organized with a strong attention to detail.

Education and Experience:

• Three to five years of experience in a Financial Operations, preferably in a Reinsurance Administration role.
• Bachelor’s Degree in Finance, Business, Actuarial Science or Mathematics.

Generali Employee Benefits (GEB) Reinsurance Responsibilities:

• Preparing and processing GEB reporting requirements for submission to Finance on a monthly basis. Receive files from Group Valuation and other group systems, import files into MS Access and export files to Excel. Monthly files are due to Finance by the fourth business day of each month.
• Validate claim amounts and premium payments due GEB. Prepare and submit monthly and quarterly files to GEB. Quarterly submissions to GEB are due by the 15th of March, June, September and December, obtaining Reinsurance Operations Management approval prior to submissions.
• Ensure premium and claim amounts are accurate and reasonable month to month and quarter to quarter. Identify and document reasons for larger fluctuations.
• Coordinate payments to and collections from GEB are made in a timely manner in accordance to the treaties.
• Reinsurance Operations backup liaison between GEB and Sun Life. Track, research and resolve inquiries made by GEB. As needed, work with members of Group Valuation, Group Systems, Reinsurance Operations Management and Finance to resolve the issues.
• Work with Reinsurance Operations Management and other departments as necessary to implement solutions if repeat issues are identified, involving Sun Life’s GEB Relationship Manager as needed.
• Resolve and respond to inquiries made by Finance. As in the case of inquiries made by GEB, work with Reinsurance Operations Management and other departments as necessary to implement solutions.
• Participate in the development of GEB reporting in SLRS

Other Responsibilities:

• Participate in the implementation of new reinsurance treaties and treaty amendments as needed.
• Participate in periodic Reinsurance Administration audits, exams and walkthroughs
• Assist with special projects as time permits.
• Support work requests for bug fixes and systems enhancements to SLRS.

At Sun Life we strive to create a flexible work environment where our employees are empowered to do their best work. Several flexible work options are available and can be discussed throughout the selection process depending on the role requirements and individual needs.