Accounting and Claims Associate
Howden Re is the global reinsurance broker and risk, capital & strategic advisor focused on relentless innovation & superior analytics for top client service.
About Role
Full Time Role: Accounting and Claims Associate
Location: Edina, MN
Compensation: up to $65,000/year
Deadline to apply: Friday 16th October
Reinsurance is a complex world; the easiest way to think about it is that it’s insurance for the insurers. Working with our teams, you’ll help insurance companies protect their futures, and the people they insure. On the Accounting and Claims team, you’ll be working with our clients who have suffered a loss, and you’ll work with the reinsurers to see the claim through to a conclusion, all the way through to our clients receiving funds.
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 or Associates Degree
- Minimum GPA of 3.0
- 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
Different perspectives make us better
At Howden, we’re committed to fair opportunity, inclusive teams and a culture where everyone belongs. We value people of all backgrounds, identities and experiences. We make sure everyone has the chance to succeed. If you bring who you really are, we’ll help you to go further.
We believe in equal opportunities for all employees, regardless of race, religion, gender, age, sexual orientation or disability. And as a Disability Confident employer, we’re committed to removing barriers and supporting you to do your best work. If you need any adjustments during the application process or in the role, just let us know. We’re here to help.
What we offer:
A career that you define. We provide an environment where new ideas are encouraged and celebrated, where people who want to have a real hand in our success thrive. We want people who want to make a difference - not just in the workplace, but in the industry and in the wider community.
Working at Howden Re:
At Howden Re, we’re on a mission to do things differently. Our no silo approach, elite team, and clear focus on innovation and relentless execution means our clients are at the heart of all we do.
As a big 4 global reinsurance broker, we deliberately avoid the one-size-fits-all approach, committing to creating bespoke solutions that address the unique challenges of a modern and dynamic marketplace. Our team is empowered to drive progress, creating opportunities for career and personal development, unlocking new value for clients, fostering long-term partnerships, and using the collective power of Howden to change how the world sees risk and insurance.
EEO Statement:
We consider our people our chief competitive advantage and as such we treat colleagues, candidates, clients, and business partners with equality, fairness, and respect. Howden North America provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training. Howden North America will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.
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