Reinsurance Operations Manager

Reinsurance Operations Manager/Lead

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Leading London Market Insurance company, actively looking for an experienced Reinsurance Operations Lead with strong technical skills for their London office. The role will lead the operational and administrative processes particularly in relation to ceded facultative reinsurance administration in UK Insurance Operations.

You will:

• Embed a high performing culture in the Insurance Operations team, steering the team vision, coaching, and developing staff, managing performance.
• Create and monitor the controls required to verify the completeness and accuracy of premium accounting entries in line with appropriate financial accounting standards including but not limited to Sarbannes-Oxley Financial Controls Disclosure Requirements.
• You will be responsible for the provision of high-quality risk data to our reserving, pricing, and data functions in support of our data analytics objectives.
• As a natural problem solver, you will be a key contact for operational, underwriting, and reporting process and control improvements.
• Lead the redesign of business processes to ensure facultative reinsurance accounts and inwards insurance policy data are submitted in a timely fashion, considering appropriate financial controls, contractual terms and conditions, regulatory requirements, and internal business requirements and service level agreements.
• Interpret contract wording from inwards and facultative reinsurance certificates, binders, slips, declarations, bordereaux, and endorsements.
• Understand ceding hierarchy based upon the facultative reinsurance structure and layering provided by underwriting. In addition, interpret contract wording from the underlying insurance policy.
• Interpret facultative premium data to ensure proper allocation of facultative premium is recorded accurately in the financial sub-ledger.
• Ensure accuracy of data, including coordination of reconciliation of the facultative results with the Ceded Reinsurance Accounting to confirm that the facultative reinsurance results agree to the terms of the facultative reinsurance agreements purchased by underwriting.
• Act as liaison between Underwriting and Ceded Reinsurance Accounting for facultative reinsurance questions and inquiries from reinsurers and brokers.

What you’ll bring:

• Minimum 5 years’ experience in specialty or property and casualty (re)insurance.
• Experienced and confident team leader.
• Solid experience with Sarbannes-Oxley Financial Controls Disclosure Requirements and regulatory compliance.
• Excellent oral communication, written communication, and organizational skills
• Candidate must be flexible; team-oriented and have strong administrative skills that include ability to prioritise and multi-task.
• Self-starter, able to manage and prioritize your workload.
• Ability to think independently and work effectively and collaboratively as part of the Insurance Operations function.
• Proficient in Microsoft Office 365
• Working knowledge of key (re)insurance policy administration systems – particularly SAP Reinsurance Management (FS-RI), Genius, Guidewire Policycenter, and ImageRight document management (Preferred).