CNA is one of the largest Commercial Insurance Companies in the country, headquartered in Chicago, IL with offices across the USA. Globally CNA has over 5,000 employees worldwide and the ability to underwrite and offer our products in over 200 countries. CNA provides Insurance and Reinsurance solutions that allow us and our customers to better manage their risks and grow profitably.
We are seeking a Senior Reinsurance Claims Analyst to join our Facultative Premium team in the Corporate Reinsurance department at CNA. In this role, the ideal candidate will exhibit strong data management, Microsoft excel, and financial reconciliation skills in order manage complex premium invoices, ensure contract accuracy, and interpret reinsurance contract and coverage language. This role partners with external markets to pay and reconcile outstanding premium balances and resolve challenging inquiries. The position works closely with other business units within the company, including Corporate Accounting, Claims, Underwriting, and Business Solutions. Knowledge of direct insurance, reinsurance contracts and industry standards is a plus .
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
- Creates/reconciles premium invoices and loss bordereaux , ensuring proper application of contract guidelines and accuracy through collaboration and report monitoring. Prepares premium disbursements.
- Verifies contract set up and accuracy in our sub ledger, completes analysis of contract errors and performs premium and claim calculations (manual and automated) for accurate financial reporting while interfacing with the direct claims areas, Underwriting, Reinsurance Placements or various other internal business partners.
- Researches, interprets and analyzes specific facts and applies insurance and reinsurance concepts to understand coverage and liability issues. May prepares clear and concise status reports to the market and manages inquiries as needed.
- Monitors errors and aging of outstanding reinsurance balances. Initiates corrective action with business partners to ensure payment is made/received in accordance with contract guidelines and departmental metrics.
- Makes recommendations for process improvements considering all aspects of the job along with internal guidelines, compliance and industry standards.
- Provides guidance and assistance to less experienced reinsurance claims staff and other functional areas.
- Analyzes data, prepares and presents reports to management with recommendations.
- Completes appropriate compliance functions to ensure the ethical and financial integrity of transactions. Participates in audits and assists in providing documents and explanation as necessary.
- May be responsible for special projects and presentations.
May perform additional duties as assigned.
Manager or above.
Skills, Knowledge & Abilities
1. Solid technical and area specific expertise and knowledge of reinsurance products and services and claims principles, practices and procedures.
2. Strong interpersonal and communication skills. Ability to effectively interact with all levels of CNA's internal and external business partners.
3. Strong analytical and problem solving skills.
4. Ability to deal with ambiguous situations and issues.
5. Ability to exercise independent judgement and effectively resolve reinsurance issues.
6. Knowledge of Microsoft Office Suite and other business-related software.
Education & Experience
- Bachelor's degree in Business or Accounting preferred or equivalent experience.
- Typically a minimum of three to five years of claims, accounting or reinsurance experience.
- Applicable professional designations, or related coursework preferred.