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Reinsurance Financial Associate at Zurich North America – join our Schaumburg team to support ceded reinsurance transactions and financial reporting.
Entry-level role with hybrid work, competitive salary ($58k–$75k), comprehensive benefits, and growth opportunities in risk management.
Zurich North America is currently seeking a detail-oriented Reinsurance Financial Associate to strengthen our Ceded Reinsurance Team, within the broader Group Reinsurance function. This position is based at our North American headquarters in Schaumburg, Illinois. Local candidates will follow a hybrid work schedule, with in-office days coordinated with your manager to support collaboration, business needs, and your personal flexibility.
About the Role
This role sits within Group Reinsurance at Zurich North America and reports to the Multinational Facultative Reinsurance Manager. You’ll be part of a collaborative team that plays a key role in supporting Zurich’s risk strategy by ensuring accurate execution of ceded reinsurance transactions and partnering across finance, actuarial, underwriting, claims, and global reinsurance teams.
Responsibilities
- Analyze and apply proper accounting and operational procedure for reinsurance contracts and transactions.
- Review reinsurance reporting, reconcile reinsurance-related activity, investigate discrepancies, identify issues, and coordinate timely resolutions with internal and external stakeholders.
- Settle ceded premium in accordance with contract terms, internal control procedures, and department standards.
- Prepare loss bordereaux reports and facultative loss billings.
- Reconcile ceded premium payable and ceded loss recoverable subledger activity, providing documentation for management reports.
- Prepare reinsurance journal entries.
- Complete monthly general ledger reconciliations.
- Reconcile daily reinsurance cash from bank to ledger.
- Assign incoming cash to the appropriate individual or team, and respond to inquiries related to reinsurance cash.
- Lead relationship and communication with internal Zurich business partners and external reinsurance customers within area of responsibility, including timely response to all external inquiries as prescribed by department standards.
- Responds to basic internal and external audit inquiries and supports reinsurance audits.
Basic Qualifications
- Bachelor’s degree and no prior experience required in the Reinsurance area
- High School Diploma or Equivalent and 2 or more years of experience in the Reinsurance area
Preferred Qualifications
- Prior experience to include a combination of accounting, reporting, insurance, reinsurance, and financial analysis .
- Knowledge of reinsurance claim recoverable process and its link to direct claim processing.
- Comfortable working in team settings.
- Ability to interact with the business unit and customers, utilizing strong interpersonal skills and communication skills.
- Intermediate level Microsoft Office skills experience (Excel, Word, Outlook, etc).
- Familiarity with general ledger and financial reporting systems.
Compensation & Benefits
Your pay at Zurich is based on your role, location, skills, and experience. We follow local laws to ensure fair compensation. You may also be eligible for bonuses and merit increases. If your expectations are above the listed range, we still encourage you to apply—your unique background matters to us.
The pay range shown is a national average and may vary by location. The proposed Salary range for this position is $58,700-$75,000, with short-term incentive bonus eligibility set at 5%.
We offer competitive pay and comprehensive benefits for employees and their families. [Learn more about Total Rewards here .]
Why Zurich?
At Zurich, we value your ideas and experience. We offer growth, inclusion, and a supportive environment—so you can help shape the future of insurance. Zurich North America is a leader in risk management, with over 150 years of expertise and coverage across 25+ industries, including 90% of the Fortune 500®.
Legal and Equal Opportunities Statement
Zurich in North America does not discriminate based on race, ethnicity, color, religion, national origin, sex, gender expression, gender identity, genetic information, age, disability, protected veteran status, marital status, sexual orientation, pregnancy or other characteristics protected by applicable law. Equal Opportunity Employer disability/vets.
Zurich complies with 18 U.S. Code § 1033.
Additional Information
Please note: Zurich does not accept unsolicited CVs from agencies. Preferred vendors should use our Recruiting Agency Portal.
Location(s): AM - Schaumburg
Remote Working: Hybrid
Schedule: Full Time
Employment Sponsorship Offered: No