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Sr. Financial Consultant - Reinsurance

Hartford, Connecticut

Who Are We?

Taking care of our customers, our communities and each other. That's the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range

$70,000.00 - $115,500.00

Target Openings

1

What Is the Opportunity?

As an active member of the Assumed Reinsurance Center Team (ARC), the Sr. Consultant, Reinsurance Analysis is responsible for moderately complex reinsurance accounting, receivables and cash aspects of assumed reinsurance. Under general supervision, this position is also focused on researching and documenting current assumed deals throughout the Company for the possibly inclusion of these deals in existing reinsurance assumed applications. This position does not manage others.

Travelers offers a hybrid work location model that is designed to support flexibility.

What Will You Do?

  • Research and document processes and procedures for Company assumed business for potential inclusion in existing reinsurance assumed applications, eliminating any inconsistencies in the handling/processing of assumed business
  • Research and verify moderately complex business transactions for existing and future business
  • Ensure that department operations are carried out in accordance with established accounting practice, policies, procedures and regulations.  
  • Prepare and maintain monthly controls, including documentation and reconciliation of owned general ledger accounts.
  • Prepare and enter journal entries to record transactions to the Corporate general ledger that were generated in reinsurance sub-ledgers.
  • Prepare timely payments and disbursements due to external reinsurance partners.
  • Prepare regular analysis and reporting for business units and various levels of management within and outside of Reinsurance
  • Reconcile all outstanding balances, pursue and collect receivables and promptly settle payables when due. This includes following up with clients on items due, and researching and reconciling any account discrepancies, as well as the QA of cash application
  • Provide data to support bad debt write-offs and uncollectible balances within corporate guidelines.
  • Review and interpret reinsurance partner information and/or balances to record relevant information into the assumed reinsurance system
  • Make recommendations on system procedure and/or workflow enhancements to improve the effectiveness and efficiency of existing or future operations
  • Develop knowledge to become a SME (Subject Matter Expert) on assumed business and accounting process/procedures
  • Establish and execute financial/operational reporting to support the management/audit of process and controls
  • Other duties as assigned

What Will Our Ideal Candidate Have?

  • Bachelor's degree preferred.
  • 3 to 5 years of insurance/reinsurance accounting experience preferred.
  • Industry related experience is preferred.
  • Proficiency in a second language preferred.
  • Exhibits effective analytical, problem-solving, and decision-making skills, and identifies alternative solutions.
  • Communicates effectively.
  • Receptive to new ideas.
  • Reacts effectively to changing conditions.
  • Anticipates and constructively advances the need for positive change.

What is a Must Have?

  • A minimum of 3 years of related insurance/ accounting experience required.
  • Intermediate oral and written communication skills are required.
  • Intermediate literacy in information systems and MS Office applications required.
  • Intermediate analytical and problem resolution skills are required.
  • Advanced organizational skills are required

What Is in It for You?

  • Health Insurance: Employees and their eligible family members - including spouses, domestic partners, and children - are eligible for coverage from the first day of employment.
  • Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
  • Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
  • Wellness Program: The Travelers wellness program is comprised of tools and resources that empower you to achieve your wellness goals. In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs. Through Life Balance, you're eligible for five free counseling sessions with a licensed therapist.
  • Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences. 


If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.


Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.


About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $25 billion in 2010.