Entry Level: Reinsurance Accounting Disbursement Specialist – Remote

Role overview
The world isn’t standing still, and neither is Allstate. We’re moving quickly, looking across our businesses and brands and taking bold steps to better serve customers’ evolving needs. That’s why now is an exciting time to join our team. You’ll have opportunities to take risks, challenge the status quo and shape the future for the greater good.

You’ll do all this in an environment of excellence and the highest ethical standards – a place where values such as integrity, inclusive diversity and accountability are paramount. We empower every employee to lead, drive change and give back where they work and live. Our people are our greatest strength, and we work as one team in service of our customers and communities.

Everything we do at Allstate is driven by a shared purpose: to protect people from life’s uncertainties so they can realize their hopes and dreams. For more than 89 years we’ve thrived by staying a step ahead of whatever’s coming next – to give customers peace of mind no matter what changes they face. We acted with conviction to advocate for seat belts, air bags and graduated driving laws. We help give survivors of domestic violence a voice through financial empowerment. We’ve been an industry leader in pricing sophistication, telematics, digital photo claims and, more recently, device and identity protection.

We are the Good Hands. We don’t follow the trends. We set them.

Job Family Summary:
Participations Programs – The overall goal of the Participation Programs team is to create, provide, support, and administer “Best In Class” Participation Programs for auto dealers, financial institutions, independent agents (IA), third party administrators (TPA) and strategic partners (SP).

Job Family is responsible for administration, management and oversight of all aspects and functions related to ADS’ retro accounts, reinsurance programs, and other various incentive programs.

Job Summary:
Position is responsible for asset management and analysis of data, trends, statistical measures and reports to provide internal and external parties observations and recommendations that provide for positive performance for all of ADS’ reinsurance companies and retro accounts. This position would manage receivables/payables for reinsurance and retro accounts, calculating and processing various releases from the reinsurance companies’ trust accounts and preparation of calculations and documents for complex transactions related to the reinsurance companies.
Key Responsibilities:
Account Management and Transactional Processing

Uses extensive analytical knowledge to manage profitability of reinsurance and retro accounts
Preparation and processing of Payment Runs for monthly settlements
Distribution of invoices and letters for receivables and payables to Trustees
Post incoming cash
Process Account Maintenance in SAP
Process quarterly Retro payments
Reconciliation and support for payment runs
Present to management on past due payables and receivables
Prepare calculations, draft necessary correspondence (authorizations), gather necessary documentation and obtain necessary approvals for all Trust Account releases (expenses, excess, B Account, etc.) within defined time periods
Provide Audit and Accounting support
Demonstrate exceptional organization skills to handle multiple and high volume of activities
Account Analysis and Review

Prepare and analyze monthly Trust reporting for Reinsurance accounts
Monthly preparation and distribution of Reinsurance Company Deficit Summary
Monitor deficient accounts (FIP calcs, bad debt, deficit summary, etc.)
Monthly review of aging reports
Month end balancing reports
Completion of uploads, wires and LOC reconciliations as needed in the appropriate systems
UPR (Unearned Premium Reserve) cession and commutation calculations
Prepare ad hoc analytical requests
Able to analyze and reconcile complex issues regarding reinsurance/retro structure in order to support and maintain large sales opportunities
Uses broad business perspective to provide recommendations to senior leadership that result in adequate management of reinsurance and retro programs
Confers with agents & 3rd parties to address and resolve performance concerns/issues
Works under management direction when proposing business recommendations to 3rd parties and agents
Responsible for achieving results and supporting team members as needed
Capable of independent work with management guidance on new and unfamiliar tasks/project

Key Responsibilities Cont’d:
Communication / Customer Service

Utilizes strong communication and personal interaction skills to effectively, confidently, knowledgeably and professionally review, discuss and analyze programs with internal and external parties
Provide support to agents, dealers, TPA’s and strategic accounts, as it relates to various reinsurance requests/inquiries regarding trust accounts, payments, releases, cession statements, etc.
Promptly respond to customer inquiries/requests, ensuring they are resolved in a timely manner and to the customer’s satisfaction
Explain reinsurance processes and procedures (monthly cessions, settlements, trust withdrawals, etc.) to internal and external parties
Communicate with trustees (banks) and reinsurance managers on issues and/or outstanding requests
Maintain Updated Procedures/Forms and Execute Testing for Applications and Program Changes

Periodically update procedures and forms
Complete testing and report results of new hardware/software and program changes
Assist in gathering information/documentation for and providing responses to internal and external auditors, Home Office Legal and Accounting, states and other regulatory authorities
Maintain Effective Working Relationships

Work effectively with various AOR’s, corporate personnel and external parties (banks, consultants, etc.)
Exhibit good communication skills
Function in a team environment
General working knowledge of department goals and objectives
General working knowledge of company organization, structure, policies and procedures
Knowledge/Skills/Abilities/Experience:
Intermediate Microsoft Office Suite knowledge, especially excel
Advanced organization skills
Ability to interpret complicated situations/issues and take appropriate action(s)
Ability to input data into multiple systems across multiple product lines
Ability to multi-task in a high pressure, high volume environment
Ability to interpret incoming communications
Ability to create and send communications to internal and external parties
2 to 3 years of experience in an analyst or equivalent position
Bachelor’s Degree preferred

Notes:
The preceding description is not designed to be a complete list of all duties and responsibilities. May be required to perform other related duties as assigned. Regular, predictable attendance is an essential function of this job.
Compensation offered for this role is $52,500 – $82,000 and is based on experience and qualifications.

The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.

Good Work. Good Life. Good Hands®.

As a Fortune 100 company and industry leader, we provide a competitive salary – but that’s just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you’ll have access to a wide variety of programs to help you balance your work and personal life — including a generous paid time off policy. For a full description of Allstate’s benefits, visit allstate.jobs/benefits/