Business Operations Consultant - Reinsurance Administration

Overview:
Our Reinsurance Administration team is responsible for the transfer of risk to our reinsurance partners. Policies can be reinsured for any of our products. Reinsurance may be on an automatic basis, where risks meeting predetermined criteria are accepted without reinsurance underwriting or facultatively where each individual risk is underwritten by the reinsurer. Reinsurance premiums are paid on a coinsurance basis, or yearly renewable term basis. Our retention of each risk can vary by product, by policy type, reinsurance treaty agreement and our retention amount. The reinsurance area must ensure that policies ceded to a reinsurer meet the criteria outlined within the reinsurance treaties, that the appropriate amounts are retained and that premiums paid are accurate and processed in a timely fashion. Also, the reinsurance area must accurately process policy changes, maintain appropriate retention, and be able to communicate such changes and adjustments to the reinsurers.

Responsibilities include but not limited to:
* Monitors all Individual reinsured policies to ensure the accurate and timely remittance of premium to the third party reinsurers, reimbursement for any claims due, and accurate retention for Securian Financial.
* Understands and interprets reinsurance treaties for each third party reinsurer and procedures required to administer products reinsured by Securian Financial.
* Primary internal and external reinsurance system (TAI) resource for Individual Life.
* Provides information for accurate financial reporting on a monthly, quarterly, and annual basis; proactively reports and communicates potential financial impact situations and/or deviations of anticipated trends.
* Audits reinsurance records to ensure policies are set up correctly in the reinsurance system; summarizes findings, prepares reports, and participates in implementing administrative changes as needed.
* Processes and monitors claim notification and claim reimbursement; ensures appropriate documentation is provided to request reinsurer reimbursement.
* Leads and supports projects and process improvements impacting Individual Solutions reinsurance administration.
* Serves as primary Individual Solutions support resource and advocates on behalf of the Reinsurance team.
* Performs and/or coordinates key controls and compliance activities including FRCC testing.
* Develops and maintains analytical reporting on premiums, in force, and net amount at risk and provides data for quarterly risk reporting.
* Performs high level reinsurance tasks for at least one other Solution Group.
* Identifies and recommends process, system, and reporting improvements.

Qualifications:
* Ability to critically solve complex problems independently.
* Knowledge to interpret third party treaties/contracts to process business within contract parameters.
* Communication and human relations skills to effectively interact with third party reinsurance companies, vendors, and internal associates.
* Ability to advocate for the Reinsurance Center of Excellence (RCOE).
* Lead projects or workstreams and act as a resource for colleagues.
* Strong analytical, financial, and systems skills including advanced Excel.
* Effective collaboration and leadership skills.
* Professional curiosity - willingness to challenge procedures appropriately and suggest more effective alternatives.
* Strong analytical skills including excellent problem-solving skills.
* Bachelor's Degree or an equivalent combination of education and directly related work experience required.

Preferred Qualifications:
* 10+ years of relevant industry experience
* Knowledge of individual life/annuity products and market
* Knowledge of reinsurance structures and/or systems (e.g. TAI)

At Securian Financial, the internal title for this position is Business Operations Consultant.

Securian Financial believes in hybrid work as an integral part of our culture. Associates get the benefit of working both virtually and in our offices. If you're in a commutable distance (90 minutes) you'll join us 3 days each week in our offices to collaborate and build relationships. Our policy allows flexibility for the reality of business and personal schedules.

For more information regarding Securian's benefits, please review our Benefits page.

This information is not intended to explain all the provisions of coverage available under these plans. In all cases, the plan document dictates coverage and provisions.

Securian Financial Group, Inc. does not discriminate based on race, color, religion, national origin, sex, gender, gender identity, sexual orientation, age, marital or familial status, pregnancy, disability, genetic information, political affiliation, veteran status, status in regard to public assistance or any other protected status. If you are a job seeker with a disability and require an accommodation to apply for one of our jobs, please contact us by email at Employment@Securian.com, by telephone 651-655-5522 (voice), or 711 (Relay/TTY).

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