At a Glance
- Tasks: Join our Underwriting Services Team to provide operational and technical support in a dynamic role.
- Company: We are a leading player in the reinsurance industry, committed to excellence and innovation.
- Benefits: Enjoy a collaborative work environment, opportunities for growth, and potential remote work options.
- Why this job: Be part of a team that values continuous improvement and offers a chance to make a real impact.
- Qualifications: 5+ years in (re)insurance, strong analytical skills, and a passion for problem-solving required.
- Other info: Opportunity to train new team members and engage with various internal stakeholders.
The predicted salary is between 48000 - 72000 £ per year.
Seeking to appoint a Senior Reinsurance Operations Technician. The role will be part of the wider Underwriting Services Team, providing operational and technical support to the Underwriting, Finance and Offshore teams, ensuring the timely and accurate delivery of a high-quality service. Your responsibilities will include taking ownership of operational functions, completing core operations tasks accurately, and supporting the achievement of internal Service Level Agreements. The role is based in our London office and will report directly to the Business Process Service Manager.
Key Responsibilities
- Oversight of offshore team activities and act as Subject Matter Expert and primary contact for all policy set-up matters, addressing queries and escalating issues where necessary.
- Provide technical insight and advice to our Finance, Underwriting and Offshore teams, particularly around policy set-up.
- Liaise and follow up with Underwriters to ensure timely submission of deals via Workbench.
- Ensure accurate handling of policy set-up and accounting for, but not limited to Contingent Commissions, Sliding Scale Commissions, Reinstatement premiums, Premium Adjustments, Profit commissions and Loss corridors calculations.
- Assist in the entering of risk and policy data into the relevant PAS system, with the focus on data quality.
- Review of contract amendments and ensure they are updated into the relevant PAS accurately.
- Run monthly control reports on policy data to ensure data quality.
- Liaise with the Offshore team to rectify any errors/omissions.
- Ensure all tasks are completed for month-end close e.g. uploading of premium estimates and Loss ratios, commission calculations and other Finance related tasks as required.
- Outwards RI Contract Management - ensuring outwards reinsurance contracts are always set up in an accurate and timely manner.
- Undertake SOX peer reviews and quality assurance checks within defined Service Level Agreements.
- Support the Underwriting and Finance teams in delivering a high-quality service.
- Continually seek to improve processes and suggest improvements to ensure smooth departmental operations.
- Update Standard Operating Procedures as and when required.
- Carry out ad hoc tasks that may arise from time to time as specified by the line manager.
- Assist with training new team members when required.
- Build and maintain strong working relationships with Finance and Underwriting teams, keeping them regularly updated on relevant issues.
- Support projects and testing as required and promote adherence to best practices.
Candidate Profile
General Requirements
- Minimum 5 years’ experience within the (re)insurance industry, ideally within an underwriting support or operations function.
- Thorough understanding of (re)insurance terminology and concepts, with an in-depth knowledge and understanding of policy wordings.
- Knowledge of underwriting processes and procedures.
- Working knowledge of key (re)insurance policy administration systems – ideally SICS.
- Some experience with Sarbanes-Oxley Financial Controls Disclosure Requirements.
- Excellent numerical and analytical skills, with an eye for detail.
- Innovative mindset with a passion for problem-solving and continuous improvement.
- Self-starter, able to manage and prioritise your workload and adapt to changing priorities with a proactive approach.
- Excellent oral communication, written communication, and organisational skills with the ability to engage internal stakeholders.
- Candidate must be flexible; team-oriented and have strong administrative skills that include ability to prioritise and multi-task.
- Ability to think independently and work collaboratively as part of the Underwriting Services function.
- Proficient in Microsoft Office 365 (Excel, Outlook, PowerPoint, SharePoint, Word).
- Professional insurance qualification preferred, ideally CII.
Senior Reinsurance Technician employer: Next Employment Ltd
Contact Detail:
Next Employment Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Reinsurance Technician
✨Tip Number 1
Familiarise yourself with the key responsibilities outlined in the job description. Make sure you can discuss your relevant experience in operational functions and how you've successfully managed similar tasks in previous roles.
✨Tip Number 2
Network with professionals in the reinsurance industry, especially those who work in underwriting support or operations. Attend industry events or join online forums to connect with potential colleagues and learn more about the company culture at StudySmarter.
✨Tip Number 3
Brush up on your knowledge of policy administration systems, particularly SICS, as well as Sarbanes-Oxley compliance. Being able to demonstrate your understanding of these systems during the interview will set you apart from other candidates.
✨Tip Number 4
Prepare examples of how you've improved processes in your previous roles. Highlight your innovative mindset and problem-solving skills, as these are crucial for the Senior Reinsurance Technician position at StudySmarter.
We think you need these skills to ace Senior Reinsurance Technician
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in the reinsurance industry, particularly in underwriting support or operations. Emphasise your understanding of (re)insurance terminology and any specific systems you've worked with, such as SICS.
Craft a Strong Cover Letter: In your cover letter, address how your skills and experiences align with the responsibilities outlined in the job description. Mention your problem-solving mindset and ability to improve processes, as these are key attributes for the role.
Showcase Relevant Skills: Highlight your numerical and analytical skills, as well as your proficiency in Microsoft Office 365. Provide examples of how you've successfully managed workloads and adapted to changing priorities in previous roles.
Prepare for Potential Questions: Think about how you would answer questions related to your experience with policy set-up, contract management, and your approach to quality assurance checks. Being prepared will help you convey confidence during the interview process.
How to prepare for a job interview at Next Employment Ltd
✨Showcase Your Industry Knowledge
Make sure to demonstrate your understanding of reinsurance terminology and concepts during the interview. Be prepared to discuss specific policy wordings and how they relate to the role, as this will show your depth of knowledge and experience in the industry.
✨Highlight Your Technical Skills
Since the role requires a working knowledge of key (re)insurance policy administration systems, be ready to talk about your experience with systems like SICS. Mention any relevant technical skills, especially in data quality management and financial controls, to impress the interviewers.
✨Emphasise Problem-Solving Abilities
The company values an innovative mindset and a passion for continuous improvement. Prepare examples of how you've identified issues in past roles and implemented solutions. This will showcase your proactive approach and ability to enhance operational efficiency.
✨Build Rapport with Interviewers
Since the role involves liaising with various teams, it's important to demonstrate your communication skills. Engage with the interviewers, ask insightful questions, and show that you can build strong working relationships, which is crucial for success in this position.