Specialty Program Process Lead - State National

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The Specialty Program Process Lead assists in the risk mitigation activities for those programs with design structures that deviate from State National’s standard model. To ensure that the risks associated with these Specialty Programs (SP) are successfully monitored and mitigated, the Process Lead manages certain risk mitigation strategies, and supports others. These risk mitigation strategies include: helping these programs implement documentation of the control structure, premium trust monitoring and reporting (internally and externally). Additionally, the Process Lead will implement new methodology for reinsurance premium and retrocession reporting. The Process Lead monitors the results from the risk mitigation strategies and communicates the results to the Director – Specialty Programs.

ESSENTIAL FUNCTIONS

New programs

• Implement new methodology for recording, analyzing and reconciling reinsurance premium received from a large population of new programs.
• Implement new methodology for recording, analyzing and reconciling retrocession data and payments. Report the results to the retrocessionaire.
• Participate in developing risk mitigation plans for new alternative risk programs including: risk identification, contractual terms and covenants, risk mitigation strategies, oversight procedures and communication and reporting framework.
• Liaise with the various functional areas to determine that each area is aware of any unique attributes of the new program and that any regulatory, accounting, reporting and risk issues are addressed prior to signing.
• Interpret contracts and research necessary technical issues to adequately address risks.
• Due to the complexities of SP programs, assist the Program Analysis & Reporting Department with the preparation of the program reporting templates.
• Assist with due diligence for potential new deals.

Existing programs

• Monitor potential risks from a cash/credit/financials perspective.
• Capture complex program components and mitigation strategies and prepare the reporting for distribution to executive management.
• Analyze and monitor premium trust accounts for several SP programs.
• Monitor claims’ bank accounts for several SP programs.
• Perform necessary reconciliations related to reporting and cash activity for SP programs.
• Manually prepare reinsurer invoices using internally developed tracking devices that require several extensive manual reconciliations to complete the process.
• Communicate with SP program contacts and reinsurers on a regular basis to effectively accomplish the recovery of funds.
• Manually record activity in internally maintained tracking devices and reconcile the data between several sources and report the results to SNC management.
• Review bank account activity and reconcile the activity back to program reporting.
• Work with the programs’ accounting/finance teams to resolve any issues with the reporting or receivable balances.
• Assist with preparation of the quarterly reports regarding the risk status of all SP programs.
• Assume projects/special duties as assigned by Director, Specialty Programs.

JOB QUALIFICATIONS

Knowledge

• Intermediate or higher level of knowledge of Microsoft Office products or equivalent programs, particularly Excel.
• Insurance accounting experience preferred
• Ability to learn systems and use all technology available.

Skills/Abilities

• Strong attention to detail
• Sound judgment and decision-making skills.
• Strong analytical skills.
• Excellent organizational skills.
• Ability to work independently or in a team environment.
• Good communication skills – written and oral.
• Must be a person of high integrity. No other duties or relationships should interfere with this individual’s decision making.

Experience/Education

• 5 to 10 years of experience in public accounting and/or internal audit
• 5 to 10 years of experience in financial statement/control auditing or credit analysis.
• Degree in accounting.
• CPA preferred.

US Work Authorization

• US Work Authorization required. Markel does not provide visa sponsorship for this position, now or in the future.