Senior Reinsurance Technician

Key Relationships: Ceded Reinsurance team, underwriting assistants, claims managers, operations managers in underwriting teams and reinsurance brokers.

Job Summary: To be accountable for the accurate and timely administration of reinsurance contracts, the timely receipt of reinsurance recoveries and the delivery of excellent customer service to internal and external customers.

Key Responsibilities:

• Take full ownership of a portfolio of reinsurances, including the accurate capture of contracts and endorsements on reinsurance systems.
• Administer reinsurance contracts to ensure the Group complies with contractual terms and conditions.
• Play a leading role in the reinsurance team’s month end process, adhering to a strict month end timetable.
• Ensure all applicable claims are CAT coded appropriately and are recovered under relevant reinsurance programme(s).
• Undertake regular cession reviews across your portfolio, assuming accountability for risks correctly ceding to reinsurances.
• Calculate and input to the core transaction system, facultative reinsurance recovery figures and produce and submit to brokers accounting documentation.
• Take full ownership of an agreed set of proportional accounts, producing and submitting to brokers accurately and on time.
• Run the excess of loss recovery system, produce and submit to brokers accounting documentation.
• Analyse movements in net triangles to ensure accuracy and reasonableness and respond promptly to queries from the underwriting teams arising from the net triangles.
• Calculate premium adjustments.
• Work in conjunction with both Ceded Reinsurance Assistant Managers to meet or exceed key performance indicators in relation to the administration of reinsurance.
• Work collaboratively with the rest of the reinsurance technical team to meet and/or exceed key performance indicator performance targets for all Group reinsurance.
• Undertake proactive credit control including liaising with reinsurance brokers and escalating matters where appropriate to the Ceded Reinsurance Operations Manager.
• Respond promptly to reinsurer and broker queries, liaising with claims managers and underwriters where appropriate.
• Assist with the peer review of contracts, endorsements and accounts that have been entered by colleagues.
• Provide pro‑active customer service to underwriting and finance teams.
• Be actively involved in the on‑going development of the Company’s reinsurance administration procedures and systems.
• Deputise for the Reinsurance Manager(s) where required, and ensure Ceded Reinsurance are appropriately represented.
• Undertake any reasonable duties as may be requested by the Reinsurance Operations Manager in the provision of the service.

Person Specification:

Skills and Abilities:

• Comfortable working with large volumes of data, with exceptional attention to detail.
• Ability to manage time, meet deadlines and prioritise.
• Self‑sufficient, and comfortable working in an agile environment with stakeholders in multiple locations.
• Motivational skills, team worker as well as be able to work on own initiative.
• Able to communicate effectively with others, both verbally and in writing.

Knowledge and Experience:

• 10+ years experience of reinsurance administration in the London Market in a technician or senior technician role.
• Must be capable of identifying applicable reinsurances.
• Ability to calculate recoveries arising under different reinsurance types; Facultative Proportional treaty, including associated overriders, profit commissions, premium reserves and portfolio transfers, Excess of loss including the calculation of associated reinstatement and adjustment premiums, Risk Excess and Event reinsurance programmes.

Aptitude and Disposition:

• Outcome focussed, self‑motivated, flexible and enthusiastic.
• Aptitude for figure work.
• Detail focussed with a desire to get it right first time.
• Professional approach to successfully interact with managers, colleagues and external stakeholders.

Competencies:

• Speed and quality.
• Achievement drive.
• Customer focus.