At a Glance
- Tasks: Support reinsurance operations by managing accounts and liaising with clients and brokers.
- Company: Leading Property & Casualty Re/insurance firm with a collaborative culture.
- Benefits: First-class benefits, free gym access, wellness perks, and a quality staff canteen.
- Other info: Inclusive environment with low staff turnover and a focus on employee development.
- Why this job: Join a dynamic team that values creativity and offers excellent career growth opportunities.
- Qualifications: 2+ years in finance or operations, strong analytical skills, and attention to detail.
The predicted salary is between 40000 - 50000 £ per year.
Our client is a leading writer of Property & Casualty Re/insurance. For over three decades, they have helped customers and communities recover and build resilience through their industry-leading ability to understand risk, source efficient capital and rapidly pay claims. Their global team shares a passion for solving their customers’ biggest problems through a collaborative and entrepreneurial culture that empowers employees and rewards creative thinking. Embracing inclusion & diversity, this company truly values & looks after their staff. Providing a dynamic, positive & engaging culture & first-class benefits, including some nice extras such as a free quality staff canteen, free gym (multiple gym brands, nationwide) & comprehensive wellness benefits & free City same day private GP service, combined with a comprehensive talent development programme, it’s easy to see why they enjoy low staff turnover rates offering such a great environment for positive, hardworking individuals to thrive & grow.
The Senior Operations Assistant – Proportional is responsible for providing specific technical expertise on mainly Casualty accounts and monitoring and coordinating all aspects of servicing the reinsurance contract for assigned clients on the proportional book of business. This includes setting priorities, coordinating special projects, and liaising directly with internal/external clients and staff at all levels.
More specifically:
- Timely processing of pro-rate accounts and bordereaux in the policy management system arising from a variety of classes of business including Casualty, Specialty & Property, with a main focus on US Casualty accounts.
- Maintaining the integrity of operational pro-rata files and reporting to underwriting and claims the information contained within these files, as requested.
- Liaising with brokers in a professional manner to obtain detailed information relating to the information presented in pro-rata accounts.
- Investigate and allocate headlined claim events to ensure correct flagging for retrocessional arrangements and actuarial reserving.
- Verification of pertinent financial information that has been entered into our policy management system.
- Provide feedback to Underwriters, Claims, and Actuarial from a pro-rata perspective.
- Ensure all pro-rata accounts are processed and reserved.
- Ensures alignment and compliance with Global reserving practices and strategy.
- Verification of the calculation of loss sensitive payments (i.e. Profit Commissions/Sliding Scale Commission).
- Completion of the quarterly Estimated Premium Income review process which covers all in-force contracts that are recording premium using estimated figures ensuring accuracy.
- Assisting in the management of the pro-rata cash allocation process and highlighting problematic items.
- Monitoring the pro-rata receivables balances and following up with brokers/cedents on the overdue balances.
- Completing pro-rata account payments for balances due to the broker/cedent.
- Other duties as required.
Skills/required experience:
- At least 2 years relevant finance or ops prior experience in the (re)insurance industry.
- Demonstrated strong mathematical and numerical analytical skills.
- Proven problem-solving ability, applies strong technical skills to achieve results.
- Experience in DXC SICS would be an asset.
- Strong knowledge in Microsoft Office Suite of applications.
- Proven organizational and timekeeping skills and a strong sense of attention to detail are essential.
- Prioritises responsibilities, makes effective use of time and remains flexible to changing work needs/demands.
- Excellent verbal and written communication skills.
- A professional designation preferable (CA, ACA, CPA) or equivalent work experience.
- Fluent in English, with Spanish, German, and other languages an advantage but not essential.
We believe that meeting these requirements will position you for success in the role. However, if you fulfil most – but not all – of the expectations, we still encourage you to apply, as we are eager to explore your potential and believe in the ability to grow and learn. The re/insurance experience is essential.
We look forward to receiving your application. Please note that if you have not heard from us within 7 days, your application has not been successful on this occasion.
Senior Operations Assistant-proportional reinsurance in London employer: Bunn Abbott Consulting ltd
As a leading writer of Property & Casualty Re/insurance, our client offers an exceptional work environment that prioritises employee well-being and professional growth. With a dynamic and inclusive culture, employees benefit from first-class perks such as a free quality staff canteen, access to multiple gym brands nationwide, and comprehensive wellness programmes, all contributing to low staff turnover and a thriving workplace. The company is dedicated to empowering its team through collaborative problem-solving and a robust talent development programme, making it an ideal employer for those seeking meaningful and rewarding careers in the re/insurance industry.
Contact Details:
Bunn Abbott Consulting ltd Recruitment Team
