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Role Summary & Purpose
The primary responsibility of this role is to work within the Ceded Reinsurance Operations Team. This role will be working closely with other team members and internal/external teams to ensure Reinsurance contracts are interpreted, entered and serviced within the XLPro system in a timely fashion. Additional responsibilities will include working with Brokers, Reinsurers and Auditors, to meet regulatory deadlines. You will be required assist your team members in to continually improve the current ways of working and provide support to ensure the team meets its goals in a positive way. You will also be expected to work with and support our offshore team (GSP).
Key Tasks & Responsibilities
- Set up and then manage ceded placement and accounting files.
- Record ceded cover details in IRIS and the Reinsurance System.
- Proportional Reinsurance - Prepare and render Quota Share account statements, and ensure policy conditions and accounting terms are met.
- Ensure premium payments are made in a timely manner on facultative and excess of loss purchases, in line with terms of trade.
- Reporting of Ceded Reinsurance Premiums and Claims figures, both internally and externally.
- Recording of ceded reinsurance programmes in corporate underwriting and reinsurance
- Assist with the implementation of a new Ceded Reinsurance system through the project phases. Including liaison with Finance for General Ledger reconciliations.
- Ensure adherence to internal controls, including Risk and SOX controls.
- Assist in the production of all Ceded premium/financial data.
- Review and enhancement of current provision of data necessary for both internal and external reporting.
- Relationship management of brokers, to ensure the account is managed efficiently.
- Liaise with Ceded Reinsurance purchasers and prepare renewal information as may be required.
- Assist with the review of current procedures and recommend enhancements to improve the processes.
- Peer review Ceded Reinsurance record entry into source systems.
- Assist with the Financial Reporting, Committees and Board packs and Regulatory Returns.
Role Requirements & Skills
Skills / Competencies
- Strong excel skills
- Ability to work with data in a manual environment
- Ability to prioritise and work to deadlines/targets
- Good communication skills, both written and verbal
- Ability to work on their own and use their initiative
Experience
- Experience of all major types of reinsurance i.e. Facultative, Quota Share and Excess of Loss.
- Extensive experience in both Non Marine and Marine, in particular Property and Casualty classes.
- Experience of Ceded Reinsurance Regulatory Returns, including SRP/SRS, QMA and Solvency II.
- Understanding of the full end to end Ceded Reinsurance process from Placement through to Credit Control and Reporting.
- Previous experience of IRIS and LORS would be advantageous.
14101 Arch Europe Insurance Services Ltd
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