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- Tasks: Manage reinsurance contracts and ensure compliance with obligations.
- Company: Join a leading global Re-Insurer in the heart of London.
- Benefits: Enjoy competitive pay, training opportunities, and a dynamic work environment.
- Why this job: Be part of a transformative team making a real impact in reinsurance operations.
- Qualifications: Experience in various reinsurance types is essential; familiarity with LORS is a plus.
- Other info: Opportunity for growth and involvement in exciting business transformation projects.
The predicted salary is between 48000 - 72000 £ per year.
I am currently working with a global Re-Insurer to recruit a Senior Ceded Reinsurance Technician within their City of London office. This position will play a pivotal role within the ceded reinsurance operations team, supporting the Technical Operations Manager in the delivery of post placement administration of the ceded reinsurance program, including monthly, quarterly and annual reporting and analysis.
Day to day responsibilities will include:
- Administer Reinsurance contracts to ensure the Group complies with all contractual obligations, to include the calculation and processing of Minimum and Deposit premiums, premium adjustments, quota share statements and bordereaux, profit commissions and No Claim Bonuses.
- Ensuring all Ceded Reinsurance contracts are accurately recorded in the policy admin system.
- Administer payment requests and credit control recoveries balances.
- Calculate and process facultative and excess of loss reinsurance recoveries.
- Assist with the peer review of certain tasks carried out by colleagues.
- Assist with training new and current team members when required.
- Provide pro-active customer service to Operations, Underwriting, Actuarial, IT and Finance teams. Respond promptly to reinsurer and broker queries.
- Be actively involved in the on-going development of the Company’s reinsurance administration procedures and systems.
- Leading contribution to the Ceded RI workstream of the Business Transformation project.
- Undertake any reasonable duties as may be requested by the Ceded Reinsurance Technical Operations Manager.
- Assist with credit control on outwards RI collections.
The ideal candidate will have experience of multiple types of reinsurance, including Facultative and XOL; good exposure to LORS will be an advantage.
Contact Detail:
IPS Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Intl Senior Ceded Reinsurance Technician
✨Tip Number 1
Familiarise yourself with the specific types of reinsurance mentioned in the job description, such as Facultative and Excess of Loss (XOL). Understanding these concepts will not only help you during interviews but also demonstrate your genuine interest in the role.
✨Tip Number 2
Network with professionals in the reinsurance industry, especially those who work in ceded reinsurance. Attend industry events or join relevant online forums to connect with potential colleagues and learn more about the company's culture and expectations.
✨Tip Number 3
Prepare to discuss your experience with post-placement administration and reporting. Be ready to share specific examples of how you've successfully managed similar tasks in previous roles, as this will highlight your suitability for the position.
✨Tip Number 4
Research the company’s recent projects and initiatives, particularly those related to business transformation and reinsurance administration procedures. This knowledge will allow you to engage in meaningful conversations during interviews and show that you're proactive about understanding their operations.
We think you need these skills to ace Intl Senior Ceded Reinsurance Technician
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in ceded reinsurance, including any specific roles you've held that relate to the responsibilities mentioned in the job description. Use keywords from the job listing to ensure your CV stands out.
Craft a Compelling Cover Letter: Write a cover letter that not only outlines your qualifications but also demonstrates your understanding of the role and the company. Mention your experience with reinsurance contracts, premium calculations, and your ability to provide proactive customer service.
Showcase Relevant Skills: In your application, emphasise skills such as attention to detail, analytical abilities, and teamwork. Provide examples of how you've successfully managed similar tasks or projects in previous roles.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any spelling or grammatical errors. A polished application reflects your professionalism and attention to detail, which are crucial in the reinsurance industry.
How to prepare for a job interview at IPS Group
✨Know Your Reinsurance Basics
Make sure you brush up on your knowledge of ceded reinsurance, including terms like facultative and excess of loss. Being able to discuss these concepts confidently will show that you understand the core responsibilities of the role.
✨Prepare for Technical Questions
Expect questions related to the administration of reinsurance contracts and premium calculations. Be ready to explain your previous experiences with similar tasks and how you ensured compliance with contractual obligations.
✨Demonstrate Team Collaboration Skills
Since the role involves working closely with various teams, be prepared to share examples of how you've successfully collaborated in the past. Highlight any experience you have in training or mentoring colleagues as well.
✨Show Proactive Customer Service Attitude
The job requires providing excellent customer service to different departments. Think of instances where you've gone above and beyond to resolve queries or improve processes, and be ready to discuss them during the interview.
