Underwriting/Operations Assistant - Marine (Peoria, IL) at RLI

Job description

About Us We’re not like other insurance companies. From our specialty products to our business model, our culture to our results — we’re different. Different is who we are, and how we work, interact, deliver and succeed together. Creating a different and better insurance experience doesn’t just happen. It takes focus and a shared passion for going beyond the expected to forge relationships and deliver care that makes a difference. This approach rises from and is supported by our talented, ethical and smart team of employee owners united around a single purpose: to work alongside our customers and partners when they need us, in unexpected ways, with exceptional results. Apply today to make a difference with us. RLI is a Glassdoor Best Places to Work company with a strong, successful background. For decades, our financial track record has been stellar — a testament to our culture and validation of our reputation as an excellent underwriting company. Position Purpose Support Underwriting by creating policy documents, ensure compliance with regulatory requirements, maintain electronic underwriting files, provide basic operational support for the Marine product line’s underwriters, and catastrophe modeling on current and potential risks. Review insurance certificates, resolving discrepancies with reinsurers, providing operations, production, and underwriting reports, audit work of others. Principal Duties & Responsibilities Create policy documents which represent the insurance transaction bound by the underwriter. Ensure the statistical coding and policy issuance complies with regulatory requirements for each insurance transaction. Maintain electronic and/or physical underwriting file. As necessary, re-format data for import into front end system. Provide basic operational support for the product line’s underwriters. Review facultative insurance certificates to ensure the terms identified by the reinsurer are consistent with terms expected by underwriter. Resolve accounting discrepancies with facultative reinsurers. Provide operational, production, and underwriting reports to underwriting staff as requested, utilizing front-end systems and/or Business Objects. Assist with User Acceptance Testing of systematic changes. Audit the work of others. May be given authority to review/approve endorsements, review/analyze risks, review terms and conditions of underlying policies, review inspections of risks, each of which would be on behalf of Underwriting. Education & Experience Typically requires a high school diploma; Associates degree preferred 0-2 years of related experience for consideration [OR] equivalent level of education and experience Knowledge, Skills, & Competencies Ability to follow operations procedures as outlined by the Operations Manager. Ability to meet processing deadlines with minimal error. Ability to manage a variety of projects, both long- and short-term simultaneously. Ability to use database software including Windows operating systems, computer network environment and printers to process insurance policy changes. Accurate data entry. Superior Excel skills to peer review formulas, formatting, and data cleansing of large spreadsheets. Compensation Overview The base salary range for the position is listed below. Please note that the base salary is only one component of our robust total rewards package at RLI. The salary offered will take into account a number of factors including, but not limited to, geographic location, experience, scope & responsibilities of the role, qualifications/credentials, talent availability & specialization, as well as business needs. The below range may be modified in the future. Base Pay Range $20.01 - $26.63 Total Rewards At RLI, we're all owners. We hire the best and the brightest employees and allow them to share in the company's success through our Total Rewards. With the Employee Stock Ownership plan at its core, the Total Rewards program includes all compensation, benefits and perks