Operations Assistant - Cash

RenaissanceRe is a leading writer of Property & Casualty Reinsurance. For over 25 years, we have helped customers and communities recover and build resilience through our industry-leading ability to understand risk, source efficient capital and rapidly pay claims.Our global team shares a passion for solving our customers’ biggest problems through a collaborative and entrepreneurial culture that empowers employees and rewards creative thinking.

POSITION SUMMARY:

The Operations Assistant - Cash is responsible for, but not limited to, supporting the team, providing technical expertise to the members of the Operations team, ownership of a defined portfolio of responsibilities, which may include certain aspects of facilitating, reviewing and analyzing the processing of all aspects of underwriting/reinsurance contract and claims information in our risk, accounting and claims systems for all books of business written. They will work and support across the Operations teams and will also assist with special/ad hoc projects when required.

PRINCIPAL ACCOUNTABILITIES:

• Supporting development, implementation and documentation of processes and controls for efficient handling of department responsibilities.

• Assisting with development and oversight of metrics and KPIs ensuring they align to the goals of the team.

• Helping to support to Claims, Reserving, Underwriting and Finance departments.

• Support for adherence to contract certainty.

• Assist with implementation and execution of special/ad hoc projects within the Operations Department.

• Provide support to the broader Operations team to help to ensure smooth and efficient monthly and quarterly closes.

• Assist with requests from both Internal and External Auditors.

• Ensuring SOX compliance for Operations processes.

• Ensure all responsibilities are carried out with a high degree of quality, in a timely manner.

• Responsible for all aspects of cash management for the reinsurance transactions in the risk and accounting systems for all books of business written across multiple balance sheets.

• Working closely with the Underwriting and Finance as part of the Operations team

• Reconciliation of Broker/Cedant Statement of Accounts.

• Booking and applying/matching of cash receipts and disbursements in reinsurance accounting system

• Processing of all financial account messages.

• Working with technical/claims teams to resolve issues whereby cash cannot be allocated to accounts

• Monitor accounts receivable and reports for overdue accounts (e.g. 60, 90 and 120 days) and follow up on all overdue accounts on a timely basis.

• Review cash in suspense balances and follow up on a timely basis.

• Preparation and analysis of Accounts Receivable gross up.

• Liaise with brokers/coverholders and clients to resolve aged debt issues.

• Maintenance of documentation of anticipated receipts, cash disbursements and broker queries/follow-ups.

• Management of all intercompany payments and receipts.

• Analysis and pairing of complex transactions.

• Assist the Specialist and management team of training of individuals within the team.

• Review of transactions and provide information to Specialist of items that have not met SLA.

• Assist projects and conduct UAT as required.

REQUIRED COMPETENCIES:

• A university degree preferred, (emphasis on business, insurance or finance / accounting is advantageous) or comparable experience essential.

• 3+ years prior relevant experience in area of responsibility preferred.

• Good knowledge of general insurance business or reinsurance.

• Strong analytical, problem-solving skills, able to identify alternative solutions to often complex problems, accounts and transactions.

• Applies strong technical skills to achieve results. 

• Knows and meets industry standards. 

• Prioritizes responsibilities, makes effective use of time and remains flexible to changing work needs/demands. 

• Utilizes available resources to accomplish objectives and identifies issues that could potentially derail results. 

• Clearly and concisely presents information in group settings adapting messages to the needs of the audience and effectively responds to Q&A. 

• Regularly shares information and engages in dialogue with manager and peers. 

• Works toward team goals and end result and contributes in ways that benefit the entire team. 

• Consistently meets expectations excels when it matters most and responds quickly and effectively to resolve issues. 

• Remains open to new thinking and ideas, and views situations from multiple perspectives. 

• Strong computer skills – MS Word, Excel and any relevant internal systems (SICS).

We are an equal opportunity employer.  We provide equal opportunity to all applicants and employees regardless of race, color, religion, national origin, age, sex, sexual orientation, gender identity, marital status, pregnancy, disability, military status or other legally protected categories.

The fulltime base salary range for this position is $80,000 - $95,000 USD per year; base salary offered may vary based on job-related knowledge skills, and experience. The position is eligible for bonus and a comprehensive benefits package. This information is provided per the New York City Human Rights Law and applies to positions in New York City.

Our people are our most valuable resource and core to our success. This is a fast-paced business environment, demanding a strong work ethic and a results-oriented approach. We offer competitive compensation and benefits, a comprehensive talent development program, and a reward system in which employees share in the success of the company. We are an engaged member of the communities in which we live and work and have a locally-led giving philosophy with generous employee matching program, global and local community grants and employee volunteerism.We seek diversity, create equity, and practice inclusion. Our people are at the heart of everything we do. We are an equal opportunity employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, national origin, sex, sexual orientation, gender identity, marital status, pregnancy, disability, military status or other legally protected categories.