At a Glance
- Tasks: Manage ceded reinsurance contracts and collaborate with brokers and auditors.
- Company: Join a leading reinsurance firm with a focus on innovation and teamwork.
- Benefits: Competitive salary, flexible working options, and opportunities for professional growth.
- Other info: Dynamic team atmosphere with a focus on continuous improvement and career advancement.
- Why this job: Make an impact in the reinsurance industry while developing your skills in a supportive environment.
- Qualifications: Experience in reinsurance and strong Excel skills are essential.
The predicted salary is between 50000 - 65000 £ per year.
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 to assist your team members in continually improving 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.
Senior Ceded Re Technician in London employer: archgroup
archgroup is an exceptional employer that fosters a dynamic and supportive work culture in Glasgow, where innovation and collaboration thrive. With a strong focus on employee growth, we offer comprehensive training and development opportunities, ensuring our team members are equipped to excel in their roles. Join us to be part of a company that values your contributions and is committed to making a meaningful impact in the insurance industry.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Ceded Re Technician in London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like archgroup). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like archgroup. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Senior Ceded Re Technician in London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at archgroup.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at archgroup. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at archgroup
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at archgroup to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at archgroup, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding archgroup's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
