Junior Reinsurance Technician

Duration: 3 Year - Fixed Term Contract

Department: Finance

Reports To: Reinsurance Operations Assistant Manager

Company Profile: Founded as an in-house reinsurer, our client is one of the largest reinsurance groups in the world, with their UK Life Branch operating in one of the largest and most competitive global markets. With thousands of staff worldwide and over 90 employees based in their modern London office, they strive to attract high quality and creative thinkers. They maintain a collaborative management philosophy offering a unique non-hierarchical working environment that recognises that the expertise and engagement of their people are core to the success of the company. They welcome and embrace diversity of thought, perspective and background where everyone can be their true selves at work and feel accepted, respected and supported. Focussing on attracting exceptional talent, they take a long-term view on development, placing emphasis on challenging their people to realise their ambitions, with a strong track record of providing career progression for staff both locally and internationally.

The Role: Based in the Reinsurance Operations team within the Finance & Operations department, this role will deliver effective client administration and financial close processes. The Reinsurance Technician will play a key role in supporting the administration and accounting of the Branch's Single Premium Annuity portfolio, alongside the administration of Protection reinsurance treaties. Responsibilities include policy and claims data processing and analysis, treaty accounting, credit control, and the management of a portfolio of protection reinsurance arrangements. The role offers an excellent opportunity to gain experience across operational processes, performance analysis, stakeholder management, and financial reporting, while contributing to the effective delivery of business-critical reinsurance activities.

Duties & Responsibilities:

• Support the administration and oversight of outsourced annuity administration services, ensuring delivery in line with agreed service levels and contractual requirements.
• Build and maintain strong relationships with clients, outsourcing providers, and key internal stakeholders to support the effective management of reinsurance business.
• Strong relationship management skills, with the confidence to engage, present, and collaborate effectively with stakeholders at all levels.
• Validate and reconcile monthly annuity payrolls, ensuring accuracy, completeness, and timely reporting.
• Produce management information and performance reporting for management and clients.
• Help coordinate client governance and oversight activities, including the provision of reporting and evidence required to meet regulatory and contractual obligations.
• Ensure compliance with relevant regulatory requirements, including Consumer Duty, and support the implementation of regulatory and business changes.
• Administer and analyse policy, premium, and claims data, ensuring adherence to treaty terms, service standards, and data quality requirements.
• Manage a portfolio of reinsurance treaties, ensuring the timely administration of accounts, claims, and associated operational activities.
• Ensure all technical accounting bookings for annuity, longevity, and protection treaties are accurate, complete, and processed within reporting deadlines.
• Review and process claim settlements, ensuring claims are valid, comply with treaty terms and conditions, and are settled within agreed service standards.
• Provide accounting and operational support to the Business Development team in relation to longevity and protection business.
• Maintain and enhance operational processes, controls, and documentation to ensure consistent, efficient, and well-governed business operations.
• Participate in local and Group projects, supporting business performance reporting, process improvements, and operational change initiatives.
• Identify opportunities to improve processes, controls, and service delivery, driving continuous improvement across the team.
• Maintain current knowledge of relevant regulatory, operational, accounting, and reporting requirements to support effective business management.

Qualifications Required:

• Degree in a STEM-related subject or equivalent qualification.

Experience:

• Previous insurance operations experience would be advantageous.
• Financial process and control design.
• Reinsurance experience, a distinct advantage.
• Management of relationships with external parties.

Skills:

• Communication and presentation of information and complex ideas to a range of audiences.
• Excellent organisational skills with the ability to follow direction and work independently as required.
• SAP financial accounting system experience an advantage.
• Sound understanding of the Microsoft Office suite of products, including Excel.
• Experience of Power BI an advantage.

Person Specification:

• Delivery and Accountability - Results oriented, taking accountability and ownership for deliverables. Ability to work in a demanding environment managing multiple deadlines. Ability to make effective decisions quickly. An initiative-taker who leads in delivering positive outcomes for the Branch.
• Problem Solving - Ability to break down issues and identify trends, patterns, and interdependencies. Pragmatic approach to assessing risks when developing solutions. Consultative and collaborative approach to problem solving.
• Team Player - Focuses on building and maintaining a positive team culture and developing cross-functional relationships. Embraces diversity of thought, ideas, and skills to engage the team and deliver objectives.
• Communicating and Influencing - Excellent negotiation skills and demonstrated capacity to influence decisions and manage relationships with key stakeholders. Adapts communication style depending on audience.
• Innovation and Continuous Improvement - Creates an environment where concepts are challenged and new ideas and solutions are encouraged. Continuously strives for process improvement.
• Developing Capability and Knowledge Sharing - Actively develops and enables the team, acting as a role model and mentor. Willingness to knowledge share and learn from peers using a range of development tools.
• Customer Focus - Develops a deep understanding of the complexities of the customer business in order to implement ideas and technical expertise. Ensures that customer feedback is actioned, and customer satisfaction maintained.