Coaction Global · 5 hours ago
Reinsurance Operations Manager
Morristown, NJ
Full-time
Hybrid
Mid, Senior Level
$111K/yr - $150K/yr
5+ years expCoaction Global is a unique mix of leaders and achievers in the insurance industry, seeking a Reinsurance Operations Manager to oversee the administration and accounting of reinsurance contracts. The successful candidate will collaborate closely with the Reinsurance Operations Director, ensuring timely processing of contracts, premium payments, and internal control improvements.
Commercial InsuranceFinanceFinancial ServicesInsuranceInsurTechProperty Insurance
Responsibilities
Learn and understand Coaction’s business and reinsurance programs, including all relevant informational workflows
Learn and understand the insurance and reinsurance systems used to record and maintain data necessary for reinsurance-related operational activity, financial accounting, reporting, and analysis
Learn the pertinent terms and conditions for each assigned reinsurance contract
In coordination with the Reinsurance Procurement Team, set up the reinsurance contract and attachment criteria in the Company’s reinsurance system
Monitor and validate periodic reinsurance system calculations of reinsurance balances
Identify and remediate data or system issues affecting the accuracy of automated calculation of reinsurance balances
Quantify any necessary periodic financial statement adjustments related to reinsurance balances to support the monthly financial close
Assist in the preparation, analysis and review of Schedule F
Analyze and explain periodic financial results for each assigned reinsurance contract
Prepare premium adjustments, account statements, and ceded loss notices/bills, including calculation of any reinstatement premium on a timely basis
Record and reconcile cash transactions (e.g., ceded premium payments, ceded loss collections, premium adjustments, etc.) on a timely basis
Review and approve escalated transactions, accounts, adjustment and ceded loss notices and billings produced by analysts based on individual authority letters
Follow-up on cash collections for ceded recoverable balances and prepare reinsurance premium payments
Ensure cash transactions are accurately applied in the reinsurance system
Lead in supporting the booking and collections of Assumed Quota Share Reinsurance
Lead and mentor Reinsurance Analysts providing guidance and training
Effectively communicate with and respond to reinsurance brokers and/or reinsurers
Collaborate with other departments (e.g., Actuarial, Reinsurance Procurement, Finance, IT, etc.) to complete various ad hoc projects
Qualification
Required
5 - 7 years of relevant work experience in the insurance industry
Bachelor's degree, preferably in a business-related field of study – Accounting a plus, but not required
Working knowledge and experience with various forms of reinsurance (e.g., XOL, Q/S, Facultative, etc.)
Familiarity with US GAAP & STAT insurance and reinsurance accounting and reporting
Advanced MS Excel skills, and familiarity with MS Access, SQL and other data analysis tools is a plus
Organized, clear, and effective verbal and written communication
Strong organizational and multitasking capabilities, with the flexibility to re-prioritize as needed
Proven record of proactive, pragmatic, detail-oriented problem-solving and reconciliation skills
Demonstrate the ability to work effectively either independently or within a group, and to communicate proactively and clearly both verbally and in writing with team members and Management
Benefits
Paid time off
Medical
Dental
Retirement
Company
Coaction Global
Coaction Global (Coaction) is an A.M. Best “A-“ (Excellent)-rated, property and casualty (P&C) insurance company.
201-500 employees
Funding
Current Stage
Public CompanyTotal Funding
$200M2023-09-07Private Equity· $200M
2021-08-04Private Equity
2021-01-15Acquired
Leadership Team
Jonathan Ritz
Chief Executive Officer
Ellen Edmonds
Chief Actuarial Officer
Recent News
2025-08-26
2024-06-05
Insurance Insider US
2024-06-05
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