Senior Controllers Coordinator – Captive Insurance Contract Administrator

At Dow, we believe in putting people first and we’re passionate about delivering integrity, respect and safety to our customers, our employees and the planet.  

Our people are at the heart of our solutions. They reflect the communities we live in and the world where we do business. Their diversity is our strength. We’re a community of relentless problem solvers that offers the daily opportunity to contribute with your perspective, transform industries and shape the future. Our purpose is simple - to deliver a sustainable future for the world through science and collaboration. If you’re looking for a challenge and meaningful role, you’re in the right place.

About you and this role

The Dow Chemical Company has an opening for a Senior Controllers Coordinator – Contract Administrator for Dow’s Consolidated Insurance Subsidiaries, located at the company’s World Headquarters in Midland, Michigan.

In this position, you will play a fundamental role in assisting in financial management of fortuitous risk outcomes in the Dow insurance subsidiaries’ treaty reinsurance underwriting portfolio.  The successful candidate will work closely with underwriting and accounting teams, as well as insurance intermediaries, for treaty reinsurance business, analyzing and capturing the performance of treaty insurance contracts.  The Dow insurance subsidiaries participate in domestic reinsurance markets and work closely with Dow Corporate Risk Management to help finance portions of the Company’s fortuitous risks.  They are domiciled and regulated in multiple states, have invested assets of more than $2.5 Billion, and are led by Dorinco Reinsurance Company holding an AM Best “A” rating with over $700 Million of revenue and $1.7B of admitted assets. This is an excellent opportunity to learn and apply your finance, analytical, and relationship management skills, as well as insurance industry experience to help in the management of insurance underwriting activities for Dorinco’s treaty reinsurance business.

Responsibilities

• At the direction of the Vice President of Insurance Operations, and in conjunction with the Underwriting and Controllers teams, interpret and analyze numerous contracts of reinsurance to ensure that premium and loss accounting information received for the reinsured (or their agent) follows the terms of the reinsurance agreement.
• Within the same framework, determine and communicate to reinsurance broker any faulty or missing data on monthly/quarterly reinsurance accounts (invoices) to ensure that appropriate information is supplied to Captive to ensure accurate and complete financial reporting.
• Analyze and monitor loss and unearned premium reserves to ensure that the company has accurately represented its liabilities in its financial reports.
• Compare payment requests against contract terms and current balances to ensure the appropriate distribution of Captive assets.  Also, determine status of outstanding balances with liquidating insurance companies to assist in special payment agreements.
• Analyze contract activity to provide information for technical inquiries from Captive’s various functional areas and stakeholders, including the codification of information received in many different formats into a single, usable format for the use of stakeholders in making business decisions.
• Provide accurate financial data to be interfaced into Dow’s accounting system to ensure the appropriate representation of Captive’s portion of Dow’s overall assets and liabilities.
• Audit receivables for delinquent accounts, issue payment notices, and monitor information on credit status of debtors.
• Driving the payment authorization process for adjustments/settlements through the contract administration process.

Ideal candidates will have an exceptional track record of performance in reinsurance contract administration to contribute mastery of the business to support the company’s operations, reporting, and controls.  Prior experience specifically in quota share reinsurance contracts is desirable.  Other high performing employees may be considered who have demonstrated the required characteristics and have experience in a related field.

Successful candidates for this position should be passionate about team engagement, operations and technology with a focus on achieving business success. They should be naturally curious with a desire for continuous learning, have excellent fundamental analytical skills, interpersonal effectiveness, and ability to communicate clearly and concisely, as well as being resourceful self-starters with a strong bias to action, anticipating requirements and able to act with a sense of urgency, have excellent project management and organizational skills and drive projec