Reinsurance Analyst

Pan-American Life Insurance Group (PALIG) is seeking a Reinsurance Analyst to join the Reinsurance Actuarial department. The Reinsurance Analyst has primary responsibility for the administration of the reinsurance area, ensuring an efficient level of administration and Company standards are maintained. In addition, the Reinsurance Analyst will:

• Create the monthly premium billing and quarterly reserve reporting to reinsurers
• Determine how new products can appropriately be handled with current systems
• Ensure proper accounting (premium and claims) is performed, and the year-end schedules, financial and regulatory reports, and audit requests are handled correctly and on time
• Communicate with underwriting area to verify the proper reinsurance administration is put in place
• Support the investigation of proposed reinsurance opportunities, reinsurance rate comparisons, and profitability analysis

Ideally, candidates are to be located near either the New Orleans, LA or Oak Brook, IL office location and maintain a hybrid work schedule.

ESSENTIAL FUNCTIONS:

Reinsurance Premium Billing & Payment

• Coordinate monthly reporting of reinsurance partners’ premium billings and provide payable amounts to treasury for processing
• Analyze the monthly/quarterly reinsurance statements such that credible numbers are routinely supplied to the reinsurers
• Interface with reinsurers on any inquiries regarding monthly files
• Coordinate with reinsurers to review original Treaty and Amendments and verify they reflect the accurate administration and quote information

Reinsurance Claims

• Analyze the daily death claims cycle output and verify that life benefit and interest amounts are accurate
• Maintain accurate pending death claim logs and follow up on outstanding claims with reinsurers
• Process claims recovery amounts and provide accounting with accurate back-up documentations to offset wire amounts received for claims payments
• Coordinate that waiver of premium claims are processed and accurate on the monthly billings
• Transmit waiver proofs to the appropriate reinsurance

System Maintenance & Data Integrity

• Organize and direct the upkeep and maintenance of the TAI reinsurance system
• Liase to vendor for system upgrades, configurations, or changes to MTLS division version of TAI software
• Ensure reinsurance data integrity
• Monitor interfaces between TAI and Policy Administration systems via daily/weekly cycle reporting and review
• Coordinate with Underwriting, Policy Issue, Policy Service, and Claims staff the integrity of front-end input into TAI
• Determine and coordinate new TAI Treaty data input associated with new product development

Audit Support

• Provide support for external audits

Reporting

• Coordinate with the ALM/Valuation staff the reporting of quarterly reserves to the reinsurance partners, and handle quarter-end reserve valuation uploads into TAI as well as TAI and data output file extracts
• Coordinate with the accounting staff the reporting of monthly reinsurance information associated with the STAT/GAAP financials
• Support the annual DAC TAX reporting to reinsurers
• Support year-end Blue Book reporting

KEY REQUIREMENTS:

• Bachelor’s degree in accounting, finance, mathematics, or closely related field, plus 2-4 years' experience required
• 4 years' relevant experience may be substituted in lieu of degree requirement
• Knowledge of TAI Reinsurance Administration System preferred
• Two FLMI exams, plus a minimum of 4 years' insurance experience and 2 years' accounting experience preferred

KNOWLEDGE, SKILLS & ABILITIES (KSA's):

• Life insurance and reinsurance accounting knowledge
• Proficient with the Microsoft suite of products, including Access, Excel, Outlook, and Word
• Demonstrate good project management skills

Pan-American Life Insurance Group Offers:

• Comprehensive Compensation Packages (base & bonus)
• Comprehensive Benefits Package: Medical, Dental, 401K, Paid Time Off, and Tuition Reimbursement, etc. are some examples. New hires are eligible for medical and dental coverage on the first of the month following 30 days of service.  

Who We Are:

Pan-American Life Insurance Group (PALIG) serves the life, accident, and health insurance needs of individuals and businesses in 49 U.S. states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands through its U.S. based member companies - Pan-American Life Insurance Company and Pan-American Assurance Company.

At Pan-American Life, our employees are our greatest asset. We are grateful for the collaborative efforts of our employees and partners, and for the confidence of the policyholders whose life and health we protect. It is through this long-standing commitment that Pan-American Life continues to succeed.

Pan-American Life is an Equal Opportunity Employer/Drug Free Workplace.