Reinsurance Analyst

Apply now Job no: 609807
Work type: Secondment
Location: Sydney
Categories: Insurance Specialisations

Relationship Manager – AMP Life (Fixed term contract)

AMP Life is Australia and New Zealand’s largest life insurer, with assets of over $31bn and over 2.4 million customers. AMP Life is transitioning its business model to be an in-force specialist life insurer, with a focus on providing existing customers in Australia and New Zealand with risk insurances (income protection, disability and life), traditional life insurances and mature life insurance investments.

We are a customer centric and deeply human organisation and we work to help our customers realise their best life. We focus on the customer experience, retention, investment outcomes, and running an efficient business model to drive customer advocacy and profitable performance outcomes. In 2019, it is planned that AMP Life will be sold by AMP to Resolution Life, a global in-force life insurance specialist.

About the role

This role is responsible for the accurate and timely administration of AMP Life’s Australian and New Zealand reinsured business and supports the functions of the Head of Reinsurance and the Executive General Manager Corporate Services & Operations.

This role forms part of the Reinsurance Operations team responsible for the day to day management of the AMP Life’s reinsurance administration and accounting transactions for the Wealth Protection and Mature Product business.

This role is responsible for the accurate and timely administration of AMP Life’s Australian and New Zealand reinsured business and supports the functions of the Head of Reinsurance and the Executive General Manager Corporate Services & Operations.

This role forms part of the Reinsurance Operations team responsible for the day to day management of the AMP Life’s reinsurance administration and accounting transactions for the Wealth Protection and Mature Product business.

Key Responsibilities

  • Timeliness relative to monthly processing deadlines
  • Delivery of internal and external audit requirements
  • Quality of reinsurance administration
  • Quality of multi-national pooling administration
  • Quality of reinsurance data integrity and accuracy
  • Speedy recovery of claims reimbursements from Reinsurers and payment of reinsurance premium
  • Ensuring service level agreements with AMP Life’s reinsurers are met
  • Effective monitoring & reconciliation of reinsurance cash flows
  • The completion of the following reports (Month end/Quarter end/Year end reconciliation, recovery & controls reporting)
  • Undertake projects as directed and delivering on reinsurance business project outcomes
  • Ensuring all processes are in line with the Reinsurance Risk & Compliance Framework and Reinsurance Strategy

Capabilities & Experience

  • Timely and accurate processing of reinsurance premium payment calculations to meet monthly deadlines 
  • Reasonableness checks on reinsurance premium payments for review and sign off by the Reinsurance Operations Manager
  • Answering queries relating to reinsurance administration, premium payments and claim recoveries
  • Preparing statistical reports as required for external reinsurers and internal stakeholders
  • Providing assistance and advice in the development and enhancement of systems/database enhancements and upgrades
  • Documentation of administration processes and procedure
  • Review and development of rules in reinsurance systems and databases and maintaining procedure/rule documentation
  • Contribution to team effectiveness and process improvement initiatives
  • Working collaboratively with internal stakeholders to identify data integrity discrepancies between policy data and reinsured data across systems and ensure the effective administration of exceptions
  • Speedy recovery of claims reimbursements from Reinsurers and payment of reinsurance premium
  • Ensuring service level agreements with AMP Life’s reinsurers are met
  • Effective monitoring & reconciliation and reporting of reinsurance cash flows
  • Handling all inquiries from Finance in relation to Reinsurance cash flows
  • At least 2+ years’ experience in the Life Insurance industry
  • Understanding of Individual and Group Life and Disability Insurance
  • Experience in data analysis and generation of reports
  • Experience in customer service
  • Knowledge of reinsurance is preferred but not essential
  • Qualification in Finance or Accounting is preferred but not essential
  • Experience with root cause analysis and process mapping is preferred but not essential

Inclusion & Diversity

AMP Life recognises individual differences and welcomes people from a variety of life and work experiences. The diversity of our people is core to our ability to innovate, grow and to fulfil our collective aspiration of helping people to own their tomorrow. A natural curiosity, a respect for differences and a growth mindset are valued at AMP Life.

Advertised: AUS Eastern Daylight Time
Applications close: AUS Eastern Daylight Time

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