Reinsurance Administrator

Date: Jul 11, 2019

Location: Hartford, CT, US

Company: Lincoln Financial

Alternate Locations: Hartford, CT (Connecticut)

Relocation assistance is not available for this opportunity.

Requisition #60090

 

About the Company

 

Lincoln Financial Group, a Fortune 250 company with over 10,000 employees, provides advice and solutions that help empower Americans to take charge of their financial lives with confidence. Our core business areas — Life Insurance, Annuities, Retirement Plan Services and Group Protection — focus on supporting, preserving and enhancing over 17 million customer’s lifestyles and retirement outcomes.

 

Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. The company had $238 billion in assets under management as of December 31, 2018.

 

Ranked one of the Best Large Employers in America by Forbes magazine, Lincoln Financial Group makes a serious investment in our employees’ futures through a broad range of wealth accumulation and protection plans, health and wellness programs, and career development resources designed to help each individual reach their personal and professional goals.

 

The Role

 

The Administrator, Reinsurance will perform and deliver on processing routine reinsurance transactions at a high level of accuracy, completing monthly billing processes and accounting entries, and responding to reinsurance inquiries and requests. The role will also support reinsurance administration by producing assigned reports.

 

 

Responsibilities

 

  • Accurately prepares routine accounting entries to support premium and claim recoveries that post to General Ledger. Handles all premiums and recoveries in accordance with Accounting and Financial Reporting department needs.
  • Analyzes and audits routine retention scenarios and makes corrections where necessary to eliminate excess risks to Lincoln and to our Reinsurers.
  • Calculates routine reinsurance values and questions any discrepancies found.
  • Completes assigned routine monthly billing processes within 2 business days after month close and the TAI monthly billing reports are available. Reinsurance settlements, communications, and accounting must be completed with 100% accuracy.
  • Independently processes all reinsurance pools not housed on our reinsurance administration system.
  • Monitors group email inbox and responds to all routine reinsurance inquiries and requests within 1 business day.
  • Processes assigned facultative cases and ensures they are properly ceded to the correct Reinsurers.
  • Processes reinsurance death claim procedure and responds to all questions. Finalizes claims when appropriate. Works with Claims team to ensure proper collection of reinsured claim amounts.
  • Processes routine reinsurance transactions, seeking Reinsurance Consultant advice when needed. Maintains a minimum audited processing accuracy of 95% on policies.
  • Supports reinsurance administration by producing a minimum of 3 Daily Cycle reports and 1 Weekly Cycle report each month.

 

Education & Experience

 

 

  •  
  • 4 Year/Bachelor's degree or equivalent work experience (4 years of experience in lieu of Bachelor's) (Minimum Required)
  • 0 - 1+ Years Experience in reinsurance administration (Required)

 

 

This position may be subject to Lincoln’s Political Contribution Policy.  An offer of employment may be contingent upon disclosing to Lincoln the details of certain political contributions. Lincoln may decline to extend an offer or terminate employment for this role if it determines political contributions made could have an adverse impact on Lincoln’s current or future business interests, misrepresentations were made, or for failure to fully disclose applicable political contributions and or fundraising activities.

Any unsolicited resumes/candidate profiles submitted through our web site or to personal e-mail accounts of employees of Lincoln Financial Group are considered property of Lincoln Financial Group and are not subject to payment of agency fees.

Lincoln Financial Group (“LFG”) is an Equal Opportunity employer and, as such, is committed in policy and practice to recruit, hire, compensate, train and promote, in all job classifications, without regard to race, color, religion, sex (including pregnancy), age, national origin, disability, sexual orientation, gender identity and expression, veterans status, or genetic information.  Applicants are evaluated on the basis of job qualifications.  If you are a person with a disability that impedes your ability to express your interest for a position through our online application process, or require TTY/TDD assistance, contact us by calling 260-455-2558.

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Nearest Major Market: Hartford

Job Segment: Claims, Accounting, Insurance, Finance