Job title: Reinsurance Analyst

Company: Meridia Recruitment Solutions

Job description: Reinsurance Analyst
Dartmouth, NS
Reference # HL-17828

At Meridia Recruitment Solutions, we are excited to be partnered with BF&M, a leading insurance provider with operations in Bermuda, Halifax and across the Caribbean, to recruit for their Reinsurance Analyst role in Dartmouth, Nova Scotia.

Founded in 1903, BF&M takes great pride in helping their customers protect what matters most, as well as giving back to the communities in which they work. BF&M is comprised of several companies selling health, life, pension, property and casualty insurance products.

We are currently seeking a Reinsurance Analyst to join BF&M’s reinsurance team. This position will be responsible for analyzing reinsurance contracts and financial data related to reinsurance, providing insights, and supporting decision-making processes. Reporting to the Group Head of Reinsurance based in their Cayman office, this position requires a blend of accounting expertise, industry knowledge, and analytical skills to manage the financial aspects of reinsurance transactions effectively.

Responsibilities

• Maintain accurate records of reinsurance contracts, premiums, claims, and settlements in our insurance system
• Evaluate reinsurance agreements to assess financial risks and benefits, ensuring appropriate coverage, and risk mitigation strategies; provide insights to senior management on the same
• Collaborate with underwriting and claims teams and other departments across various jurisdictions to gather necessary information to ensure accurate accounting treatment for reinsurance activities, reporting and budgeting.
• Resolve discrepancies between ceded and assumed reinsurance data
• Track and evaluate performance of active policies in order to effectively prepare inforce reporting for senior management and reinsurers on a monthly basis
• Prepare and calculate all quarterly cessions for Island Heritage reinsurance treaties
• Review of quarterly cessions for BF&M reinsurance treaties
• Prepare and calculate the Group reinsurance year-end calculations for finance team and reinsurers
• Prepare reports for reinsurers as required (rates, aggregates, losses)
• Calculate claims recoveries for reinsurance (treaty and FAC)
• Assist with regulatory reporting and annual reinsurance renewal program as required
• Attend reinsurer and broker meetings and develop relationships with key stakeholders to help solidify relationships
• Identify opportunities for process improvement and automation in reinsurance and accounting procedures to enhance efficiency and accuracy
• Ensure compliance with accounting principles and industry regulations
• Ad hoc duties as required by the Group Head of Reinsurance

The ideal candidate will possess:

• Hold a recognized accounting qualification (CPA ideally) to demonstrate a strong foundation in financial management and reporting.
• At least 2 years’ post qualification experience in accounting, consideration may be given to newly qualified accountants or auditors with insurance industry exposure
• Understanding of insurance or reinsurance accounting principles preferred
• Desire to obtain or currently working towards completing a recognized insurance qualification
• Proficient in Microsoft Excel for data analysis and reporting
• Excellent analytical and problem solving skills
• Effective communication and interpersonal skills
• Strong attention to detail
• Proven experience in drafting of financial statements and reports
• Ability and availability to travel to the US, across the Caribbean and to Europe would be advantageous

Are you a finance and accounting professional with experience in insurance or want to take your analytical skills to join a great company in a great company.

To express interest in this opportunity please apply online by clicking “Apply Now” below:
For more information about this exciting opportunity please contact Heather Labucki, Partner, or Jason Ozon, Consultant, at jozon@kbrs.ca. If you require accommodation to participate in the recruitment process, please let Jason Ozon know.

Meridia Recruitment Solutions connects leading organizations with top talent by building strong relationships and creating ideal matches with candidates because we are only successful when you are. We appreciate your interest in this opportunity.

To learn more about Meridia Recruitment Solutions, our job opportunities, and career advice we invite you to explore our site and subscribe for career alerts.

Expected salary:

Location: Dartmouth, NS

Job date: Wed, 10 Jan 2024 05:56:28 GMT