Description
Howden Re is seeking an Accounting and Claims Associate to join their team in Edina, MN. The successful candidate will play a critical role in helping insurance companies protect their futures and the people they insure.
Job Summary: As an Accounting and Claims Associate, you will work with clients who have suffered a loss and collaborate with reinsurers to see claims through to conclusion, ensuring clients receive funds.
Primary Responsibilities:
- Receive and forward initial loss notices, loss status updates, and proofs of loss to applicable reinsurers
- Confirm coverage under treaty review contract wording for retention & limit, LAE treatment, loss reporting requirements, loss attachment basis, etc.
- Prepare and review loss calculations to ensure accuracy and compliance with contract terms
- Process claims transactions in accounting and claims system
- Track reinsurer settlements, follow up for payment as necessary, and forward collected funds to clients
- Attend client claims audits as needed
- Perform reinsurance accounting functions for selected client accounts and provide backup coverage for other accounts as needed
- Review new contract wordings for key terms and input into the accounting and claims system
- Monitor contractual reporting and payment due dates, requesting premiums and accounts from clients to ensure timely receipt
- Prepare reporting forms and adjustment calculations for client use as needed
- Review client accounts and adjustment calculations for accuracy and compliance with contract terms
- Assist clients with calculation of Schedule F funding requirements and obtain Letters of Credit from Reinsurers
- Promptly forward funds to payees in a timely manner
- Monitor brokerage revenue forecast and update as needed
- Monitor approval status of reinsurers and obtain approval of new reinsurers as needed
- Assist in maintaining the reinsurer database
Qualifications:
- Bachelor's or Associate's degree graduating between December 2026 and May 2027
- Minimum GPA of 3.0
- Proficient with Microsoft Office products, including Excel
- Proven team player with excellent communication skills, outstanding organizing abilities, and strong attention to detail
- Solid analytical acumen and understanding of accounting and financial reporting principles
- Legally authorized to work in the US
What We Offer: A career that you define, with an environment where new ideas are encouraged and celebrated. We provide opportunities for career and personal development, unlocking new value for clients, fostering long-term partnerships, and using the collective power of Howden to change how the world sees risk and insurance.