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For Companies At a Glance
- Tasks: Join our team to manage and support Ceded Reinsurance operations with precision and expertise.
- Company: Avencia Consulting partners with a leading Bespoke & Specialty Reinsurer in the City.
- Benefits: Enjoy a permanent role with opportunities for professional growth and development.
- Why this job: Be part of a dynamic team, contributing to impactful projects in the reinsurance sector.
- Qualifications: A university degree in a numerate field and 5 years' relevant experience are essential.
- Other info: Ideal for those passionate about insurance and looking to make a difference in a collaborative environment.
The predicted salary is between 48000 - 72000 £ per year.
About us
Avencia Consulting are partnered with a leading Bespoke & Speciality Reinsurer based in the City who are hiring for a Senior Ceded Reinsurance Technician on a permanent basis.
The role
This role will be an essential part of the Ceded Reinsurance Operations team, reporting to the Ceded Reinsurance Technical Operations Manager. The Senior Ceded Reinsurance Technician's role is to support the Ceded Reinsurance Technical Operations Manager in delivering timely and accurate post-placement administration of the group's Ceded reinsurance program. The incumbent is expected to possess a good level of systems and data knowledge and a strong understanding of technical Ceded RI concepts, allowing them to proactively contribute to both the day-to-day running of the Ceded RI program and Ceded RI project activity.
Key accountabilities
- Administer reinsurance contracts to ensure the Group complies with all contractual obligations, to include the calculation and processing of M&D premiums, premium adjustments, quota share statements and bordereaux, profit commissions and NCB's.
- 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.
- Assist in the production of programme summaries and schematics.
- Assist in the preparation of various information to aid the analysis and placement of reinsurance programmes.
- Undertake SOX peer reviews and quality assurance checks within defined Service Level Agreements.
- Ensure all tasks are completed for month/quarter close e.g month end exception reporting and other Finance related tasks as required.
- Act as SME and primary contact for the Ceded Re Operations teams obligations and ensure other technicians in the team are meeting expected standards and deadlines.
- Support and lead projects to include but not limited to Phase 4 of the Ceded Re transformation project, internal and external audits, testing as required and promote adherence to best practices.
- Ensure monthly internal and Insurance Group SLA/KPIs are met.
- Undertake any reasonable duties as may be requested by the Ceded Reinsurance Technical Operations Manager.
Skills & experience
- University degree, preferably in a numerate field (finance, statistics, economics, mathematics, etc.).
- At least 5 years' experience in a similar role.
- Combined Company and Lloyds background beneficial.
- An excellent level of insurance and reinsurance knowledge required.
- Strong knowledge of the Microsoft Suite of applications with Excel skills such as iterative formulae (nested ifs), multi-criteria lookups (index, match), sumifs and pivot tables.
- Power query/VBA/SQL experience a plus, but not required.
- Strong analytical and organizational skills.
- Ability to work effectively as part of the Ceded Reinsurance Team as well as with other key stakeholders across different functions within the organization.
- Ability to work under pressure and handle a varied, fluctuating workload.
Senior Ceded Reinsurance Technician employer: Avencia Consulting Services
Contact Detail:
Avencia Consulting Services Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Ceded Reinsurance Technician
✨Tip Number 1
Familiarise yourself with the latest trends and developments in the reinsurance industry. This will not only enhance your understanding of the role but also demonstrate your commitment and passion for the field during interviews.
✨Tip Number 2
Network with professionals in the reinsurance sector, 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 culture at Avencia Consulting.
✨Tip Number 3
Brush up on your technical skills, particularly in Excel and any relevant software tools. Being able to showcase your proficiency in data analysis and management will set you apart from other candidates.
✨Tip Number 4
Prepare to discuss specific examples from your past experience that highlight your ability to manage complex reinsurance contracts and collaborate with various teams. This will help you illustrate your fit for the Senior Ceded Reinsurance Technician role effectively.
We think you need these skills to ace Senior Ceded Reinsurance Technician
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in reinsurance and technical operations. Emphasise your understanding of Ceded Reinsurance concepts and any specific software skills that align with the job description.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the role and the company. Mention specific experiences that demonstrate your ability to meet the key accountabilities listed in the job description.
Highlight Relevant Skills: In your application, clearly outline your analytical and organisational skills. Provide examples of how you've successfully managed similar responsibilities in past roles, especially in relation to compliance and administration.
Proofread Your Application: Before submitting, carefully proofread your application for any errors or inconsistencies. A polished application reflects your attention to detail, which is crucial for this role.
How to prepare for a job interview at Avencia Consulting Services
✨Showcase Your Technical Knowledge
Make sure to brush up on your understanding of Ceded Reinsurance concepts. Be prepared to discuss specific examples from your past experience that demonstrate your technical expertise and how it relates to the role.
✨Demonstrate Analytical Skills
Since the role requires strong analytical abilities, be ready to talk about how you've used data analysis in previous positions. You might even want to prepare a few scenarios where your analytical skills led to successful outcomes.
✨Familiarise Yourself with Relevant Software
Given the emphasis on Microsoft Excel and other software tools, ensure you can discuss your proficiency with these applications. If you have experience with Power Query, VBA, or SQL, highlight this during the interview.
✨Prepare for Teamwork Questions
As the role involves collaboration with various teams, think of examples that showcase your ability to work effectively within a team. Be ready to explain how you handle pressure and manage fluctuating workloads while supporting your colleagues.
