Ally Reinsurance Operations Support Analyst in Detroit, Michigan
This position offers an excellent opportunity to support all aspects of Ally Insurance's growing Dealer Reinsurance program from dealer enrollments to ongoing dealer reporting and account maintenance.
Ally's Dealer Reinsurance program provides participating dealers the opportunity to share in the underwriting profit and investment income generated by VSC and GAP contracts that they originate on Ally Insurance's behalf. Dealers may establish their own reinsurance company or they may purchase stock in one of our available super captive reinsurance companies. Ally Insurance's Reinsurance Product and Operations team is responsible for the administration associated with the dealer-owned and super captive programs, including dealer enrollments and activations, warehouse reporting, cession statement production, trust account maintenance and draw downs, account reconciliations, payments and settlements, account terminations/commutations, as well as on going monitoring.
This position will allow the Reinsurance Operations Analyst to get broad exposure to all of the various routines involved with the program, providing valuable support to each of the processes. Additionally, the analyst will work with the dealer-facing Financial Structures Specialists in the field, which provides a unique opportunity to gain exposure to Ally Insurance's Sales team and our dealer business.
Performing dealer enrollment activities such as creating and managing reinsurance series codes, coordinating configuration set-up, producing dealer reinsurance and trust account agreements, etc.
Calculating trust account surplus amounts and preparing withdrawal requests on behalf of our dealer customers
Working with Accounting on reinsurance account reconciliations, year-end Schedule F reporting, etc.
Assisting with the cessions statement production, billing, and payment processing
Reviewing and processing Financial Structures payments
Supporting process improvement efforts, including creating desktop procedures
Creating and maintaining an archive of critical department documents
Obtaining the Associate in Reinsurance designation and/or any other applicable credentials
Bachelor's degree in risk management, finance, economics, mathematics, or related field preferred
1+ years related experience, financial services experience strongly preferred.
Strong communication (verbal and written) and interpersonal skills
High level of accountability and the ability to effectively prioritize tasks
Ability to take initiative and work as needed to ensure deadlines are met
Effective at working independently and also collaboratively as part of a team
Detail oriented with a high level of problem solving capability
Intermediate+ user of MS Excel and Access, Visio a plus
Ally Financial Inc. (NYSE: ALLY) is a leading digital financial services company and a top 25 U.S. financial holding company offering financial products for consumers, businesses, automotive dealers and corporate clients. Ally's legacy dates back to 1919, and the company was redesigned in 2009 with a distinctive brand, innovative approach and relentless focus on its customers. Ally has an award-winning online bank (member FDIC), one of the largest full service auto finance operations in the country, a complementary auto-focused insurance business, a growing digital wealth management and online brokerage platform, and a trusted corporate finance business offering capital for equity sponsors and middle-market companies.
Business Unit/Enterprise Function
Ally Insurance is a leading provider of automobile-related insurance, vehicle maintenance and reinsurance products, and services for automobile dealers and their customers. Ally offers vehicle service and maintenance contracts, including our flagship, industry leading product, Ally Premier Protection which is available for new and used vehicles of virtually all makes and models, as well as other ancillary F&I products, such as our GAP and Tire & Wheel products. Ally Insurance also services the insurance needs of our dealers' businesses by offering dealer inventory insurance, and liability and property protection, as well as provides training and consultative services to help their businesses succeed.
Ally's compensation program offers market-competitive base pay and pay-for-performance incentives (bonuses) based on achieving personal and company goals. Plus, we have a flexible paid-time-off program including time off for volunteer opportunities. Ally's Total Rewards Program is designed to enrich your life at work -- and outside of it and includes:
Industry-leading 401K retirement savings plan with matching and company contributions
Wellness program encouraging healthy living with financial rewards
Flexible health insurance options including dental and vision
Pre-tax Health Savings Account with generous employer contributions
Pre-tax commuter benefits
Other work-life integration benefits including parental and caregiver leave, adoption assistance, backup child and adult/elder day care program, child care discounts, tuition reimbursement, LifeMatters® Employee Assistance Program, subsidized and discounted Weight Watchers® program and other employee discount programs
Ally is an Equal Opportunity Employer
We extend equal employment opportunities to qualified applicants and employees on an equal basis regardless of an individual's age, race, color, sex, religion, national origin, disability, sexual orientation, gender identity or expression, pregnancy status, marital status, military or veteran status, genetic disposition or any other reason protected by law.
Job Title: Reinsurance Operations Support Analyst
Company: Ally Financial Inc.
Category: Sales Support
BU Function: Insurance
Requisition ID: 19-5326