Reinsurance Accounting - AM & LAM

Location: Noida
Shift: US Shift

Key Responsibilities

• Manage and coordinate residual market filing activities across various insurance residual market programs, including FAIR Plans, Assigned Risk Auto Plans, Workers' Compensation Assigned Risk Pools, and Windstorm/Beach Plans.
• Review and validate invoices received through email or designated channels, ensuring completeness, accuracy, and adherence to established guidelines.
• Verify market share-based assessments by reviewing written premium data and applicable allocation percentages to ensure accurate calculations.
• Process invoice payments in a timely manner while maintaining appropriate supporting documentation and audit-ready records.
• Maintain and update tracking tools, databases, and master trackers to ensure accurate monitoring and reporting of residual market obligations.
• Support payment administration and compliance requirements related to FAIR Plans, Workers' Compensation Assigned Risk Pools, and other state-mandated residual market programs.
• Coordinate activities for assigned state programs, including Workers' Compensation residual market obligations for New Mexico, Mississippi, Massachusetts, and Idaho.
• Support Florida CAT-related payment activities and other coastal residual market programs within the defined scope of responsibilities.
• Collaborate with internal stakeholders and business partners to resolve invoicing, payment, and assessment-related issues in a timely manner.
• Ensure adherence to established processes, controls, and regulatory requirements governing residual market assessments and filings.
• Assist with process documentation, reporting, and continuous improvement initiatives to enhance operational efficiency and compliance.

Required Process Knowledge

• Understanding of why residual markets exist and the insurance coverages represented by FAIR Plans, assigned risk auto plans, automobile insurance residual markets, Workers' Compensation Assigned Risk Pools, and Windstorm or Beach Plans.
• Knowledge of invoice handling, written-premium validation, market-share percentage validation, payment completion and Master tracker maintenance.