Company Description: Come join our team and be a part of an industry leader, two-time St. Louis Top Workplace winner. We believe in providing support to our community and offer paid opportunities to volunteer for community service events which honored us as the 2023 Auto Success Champions of Charity. Wise F&I delivers industry-leading administration services for automotive F&I-related, voluntary protection products such as VSC, Appearance, Tire & Wheel, Key Replacement, GAP and Theft-deterrent protection. We process and adjust claims for these contracts within programs that are underwritten by only Excellent (A- or better) rated Insurance Carriers. As a rapidly growing automotive F&I product provider with 35 years of continuous operation in the Automotive F&I space, our operating partners include seasoned Insurance Agents, national Lenders and their client Automotive Dealers.
Job Description: In this role you will be responsible for the proper management and direct oversight of the Company's profit participation programs including both reinsurance and profit share programs. This includes management and oversight of all associated administrative functions; in addition to, providing training, support and resource development to internal stakeholders and external clients. Occasional travel (
Job Responsibilities / Tasks include:
Manage and provide proper oversight for aspects of the Company's various reinsurance programs.
Manage company's relationships with associated trustees, investment advisors and vendors such as GPW.
Responsible for the issuance and/or storage of the monthly reinsurance cession statements and associated trust account statements to all applicable parties.
Periodically review the cession statements for all client reinsurance companies with an eye on non-production and slipping performance. Initiate corrective action as needed.
Implement reserve requirement changes pursuant to reinsurance agreement provisions including inactivity and excessive loss experience.
Reconcile cession and trust account statements so as to ensure accuracy and procedures are being followed.
Manage release requests from client reinsurance companies within existing guidelines and parameters.
Develop the process/steps and collateral required for managing the formation and onboarding of a new reinsurance company.
Develop the process/steps for recapturing a reinsurance company.
Meet regularly with trustee banks and investment managers so as to review performance results and provide oversight.
Manage the various profit share programs offered by Company to Dealers.
Review the quarterly profit share statements for all active Dealers with an eye on non-production and slipping performance. Initiate communication and/or corrective action as needed.
Implement program cancellation pursuant to company guidelines.
Develop the process/steps and collateral required for onboarding a Dealer to a profit share program.
Manage the issuance and delivery of payments to Dealers when due under the profit share agreement(s).
Required Skills and Experience:
Bachelor's Degree in Accounting, Finance or a related major
5+ years experience managing reinsurance program(s)
Proven analytical and critical thinking skills
Aptitude for training and teaching
Self-motivated & goal oriented
Outstanding verbal and written communication skills
ARe certification is helpful, but not required
Benefits:
Competitive Hourly Wage (40 hrs/week)
Annual Performance Evaluation w/ Compensation Review
Opportunity for Advancement
Bright, Modern Workspaces
9 Paid Holidays (per year)
Paid Vacation Days (after 2 months)
401K Retirement Plan (100% company match up to 4% of income with immediate vesting)
Insurance - paid benefits include Health, AD&D, Life and L/T Disability
Voluntary benefits include Dental, Vision, Supplemental Life and S/T Disability
Convenient suburban location near intersection of I-270 and I-44 in southwest St. Louis County. We are an Equal Opportunity Employer.
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