Senior Reinsurance Technician
Role Profile
Introduction
An opportunity has arisen for a Reinsurance professional, with Lloyd’s market reinsurance experience, to lead day-to-day post-placement reinsurance operations.
This is a unique opportunity to join an empowering and inspiring business at an exciting time and to apply your skills and knowledge to make a difference.
We are looking for
- Sound technical knowledge and broad practical experience of post-placement reinsurance operations
- Familiarity with reinsurance structures
- A dynamic team player with a hands-on and can-do approach
- Experience of reinsurance processing within policy administration systems and comfortable working with spreadsheets and data
- Effective communication and stakeholder engagement skills
- Organisational skills
Key Responsibilities
- The administration of all outward reinsurance matters, including full close process
- Maintain Reinsurance procedure documentation
- Compliance with market practice, including Lloyd’s Key Principles and submission of returns such as Lloyd’s SRS.
- Communicating with all stakeholders, internal as well as external, including reinsurers and brokers
- The calculation and booking of premium adjustments and reinsurance recoveries
- Support reinsurance placement as appropriate
- Review the relevant documentation including placing slips, cover notes and contract wordings and identify and raise any matters, together with proposed solutions
- Complete Reinsurance risk and control procedures and document supporting evidence
- Chair and produce meeting packs for the monthly Reinsurance Business Working group
- Be a member of and / or attend internal committees and working groups as appropriate
- Monitor and update rating records of all reinsurers and their cumulative concentration exposures
- Maintain reinsurance resumes
- Assist the finance function to assess actual vs budget/forecast spend
- Processing reinsurance LORS entries and subsequent cash allocation against the ledger
- Perform reinsurance credit control, ensuring that both outwards payments and inward recoveries are settled within agreed terms
- Make use of any existing systems capabilities and identify process improvements/automation wherever practicable
- Develop the Reinsurance Plus system which will replace some spreadsheet driven processes i.e. reinsurance resume