Position Summary

The Facultative Reinsurance Analyst is part of our Ryan Financial Lines group, specifically situated within the International Facultative Reinsurance Team as part of the Latam & Caribbean team.

The ideal candidate will perform a variety of tasks including Claims Analyst (~ 65%) and Underwriting Analyst (~45%). They will exhibit prior experience with data management, financial reconciliations, insurance/reinsurance, and/or claims management. The individual will have the opportunity to collaborate with both external markets as Reinsurance brokers, adjusters and Carriers and internal business units such as Claims, Underwriting, and Finance Department. This person must be able to work in the Miami Office, Brickell area.

What will your job entail?

• Claims Analyst:  Estimated time 70%
  • Manages the inflow of claims notifications / communications in the claim email inbox.This includes triaging the claim type, providing policies to the appropriate adjusters selected by the analyst, sending out acknowledgment to the adjusters along with first notice of loss.
  • Develop and maintain strong relationship with brokers, carriers and claims adjusters.
  • Coordinate and manage communication with internal and external stakeholders to ensure highest level of customer service.
  • Analyze claims notified vis-à-vis (re)insurance policies issued.
  • Review policies to initial coverage triggers.
  • Participate in vendors selection (adjusters, law firms, etc.) and review / challenge their reports.
  • Control and monitor vendors expenses paid to vendors.
  • Proactively evaluate and address coverage issues and recommend appropriate reserving levels to capital providers.
  • Ensure that all claims are handled in line with agreed to procedures and guidelines.
  • Instruct payment requests when appropriate and follow-up on payments made to Insureds and vendors.
  • Manages Latam claims Bordereaux.
  • Distribute claims Bordereaux internally and to capital providers.
  • Identify claims trends and address with Underwriters and present to capital providers.

• Underwriting Analyst: Estimated time 30%
  • Manage requests of Renewal submissions for in force portfolio and follow-up with brokers to receive underwriting information on time.
  • Perform initial check on submissions received.
  • Enter submissions in the Information Management System.
  • Follow up with brokers on Renewal quotes and New Business quotes.
  • Assist with the reconciliation premium invoices, monitoring and correcting discrepancies as they arise.
  • Help monitors errors and aging of outstanding reinsurance balances. Partners on corrective actions needed with peers to ensure payment is made/received in accordance with contract guidelines and departmental metrics.
  • Help completes analysis of Reinsurance Slips and endorsements for signature while interfacing with Underwriting team, Reinsurance Brokers or Carriers.

• General – Hybrid Claim Analyst and Underwriting Assistant functions
  • Focus on research, interpretation and analysis of specific facts while applying insurance and reinsurance concepts to understand coverage and liability issues. Prepare clear and concise status reports to the market and manages inquiries under managerial supervision.
  • Identify areas for process improvements regarding all aspects of the job including but not limited to internal guidelines, compliance and industry standards.
  • Analyze data, prepare and presents reports to management.
  • Complete appropriate compliance functions to ensure the ethical and financial integrity of transactions.
  • Participate in audits-compiling documentation and additional explanation where necessary

Skills, Knowledge & Abilities

• Knowledge of insurance and claims principles practices and procedures.
• Good interpersonal and communication skills. Ability to effectively interact with all levels of Ryan Financial Lines’ internal and external business partners.
• Ability to work independently.
• Good analytical and problem solving skills.
• Ability to exercise independent judgement and effectively resolve reinsurance issues.
• Knowledge of Microsoft Office Suite as well as other business-related software.
• Must be fluent in Spanish and English
   

Education & Experience

• Bachelor’s degree or equivalent experience.
• Typically a minimum of one to two years of claims, or reinsurance experience.
• Applicable professional designations, or related coursework desirable.

Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.

How We Support Our Teammates

Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.

The target salary range for this position is $60,000.00 - $75,000.00 annually.

The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.

We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at [email protected]

The above is intended to describe this job’s general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.