Claims Operations Analyst

Company



Munich Re Specialty - North America



Location



Philadelphia
, United States

The Company is open to considering candidates in Philadelphia (PA) and Princeton (NJ).

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face. Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America.

The Opportunity

Future focused and always one step ahead!

The Claim Operations Analyst is a vital part of the MRSNA Claims team. The Analyst helps to ensure timely and efficient reconciliation of financial transactions across our claims portfolio, including the processing of payments, pursuing collections and recoveries, and assisting with account replenishments. The Analyst also ensures reliable data quality in our incoming and outgoing financial records, manages communications with internal and external stakeholders and business partners, and helps to process first notices and loss and related correspondence.

Responsibilities

• Validate and accurately process financial transactions for claims that are being handled by the assigned TPAs and MGAs.

• Ensure that ACH payments and wire transfers are efficiently processed and recorded.
• Reconcile and process financial transactions related to account replenishments and reimbursements through manual and interface programs
• Balance all financial transactions and reserves to the TPA/MGA data received.
• Confirm and evaluate the program Imprest fund to ensure accuracy of the amount.
• Request, process and import third-party data submissions while identifying any issues/inconsistencies.
• Work closely with IT, Underwriting, Accounting and Treasury
• Prioritize daily workload to ensure that all tasks are completed within their deadlines.
• Communicate clearly with internal and external stakeholders and with business partners.
• Demonstrate proficiency in multiple systems, including but not limited to: ISCyL, Pipa, Irapid, Preprocessor and Crystal.
• Investigate financial discrepancies and inconsistencies with TPA/MGA and Accounting.
• Set up and determine correct coverage on TPA/MGA handled claims
• Participate in special projects and ad hoc reporting, as required

Qualifications

• Bachelor's degree preferred or equivalent relevant work experience.
• Excellent organizational, multi-tasking and time management skills.
• Ability to build and sustain internal and external business relationships.

• Insurance knowledge and experience preferred
• Accounting experience preferred
• Proficiency in Microsoft Office and learning new systems
• Proactive in identifying process improvements and adaptive to change.
• Location is Philadelphia, PA or Princeton, NJ with a hybrid Munich Re to home based office arrangement.

The Company is open to considering candidates in Philadelphia (PA) and Princeton (NJ). The offer will be adjusted per geography.

The base salary range anticipated for this position is $63,000-$86,600, plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate is adjusted to reflect the varying market conditions across different locations, with the with the higher end being more aligned with the Princeton job market. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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