At a Glance
- Tasks: Manage reinsurance contracts and ensure accurate processing of accounts.
- 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: Great career growth opportunities in a supportive and inclusive environment.
- Why this job: Join a dynamic team solving real-world problems in the insurance industry.
- Qualifications: 2+ years in reinsurance, 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 in.
The Senior Operations Assistant – Proportional is responsible for providing specific technical expertise on 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 our policy management system arising from a variety of classes of business including Casualty, Specialty & Property.
- 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 prior experience in processing of pro-rata accounts.
- At least 2 years relevant prior experience in the (re)insurance industry.
- A professional designation preferable (CA, ACA, CPA) or equivalent work experience.
- 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.
- Fluent in English, with Spanish, German, and other languages an advantage but not 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. Bunn Abbott Consulting is acting as an Employment Agency in relation to this vacancy.
Senior Finance Operations Assistant-proportional reinsurance in London employer: Bunn Abbott Consulting
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 culture that embraces inclusion and diversity, employees enjoy first-class benefits such as a free quality staff canteen, access to multiple gym brands nationwide, and comprehensive wellness programmes. The company's commitment to talent development and low staff turnover rates makes it an ideal place for motivated individuals to thrive in their careers.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Finance Operations Assistant-proportional reinsurance in London
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance and reinsurance sectors. Attend industry events or webinars, and don’t be shy about introducing yourself. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for interviews by researching the company culture and values. Since this role is all about collaboration and problem-solving, think of examples from your past experiences that showcase these skills. We want to see how you can fit into their dynamic team!
✨Tip Number 3
Practice your pitch! You’ll want to clearly articulate your experience with pro-rata accounts and your analytical skills. Make sure you can explain how your background aligns with the responsibilities of the Senior Finance Operations Assistant role.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who take the initiative to engage directly with us. Let’s get you that dream job!
We think you need these skills to ace Senior Finance Operations Assistant-proportional reinsurance in London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Senior Finance Operations Assistant role. Highlight your experience with pro-rata accounts and any relevant skills that match the job description. We want to see how you can bring your unique flair to our team!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about the reinsurance industry and how your background makes you a perfect fit for this role. Remember, we love creativity, so let your personality come through!
Showcase Your Skills:Don’t forget to highlight your strong mathematical and analytical skills in your application. If you've got experience with Microsoft Office or DXC SICS, make sure to mention it! We’re looking for someone who can hit the ground running.
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you don’t miss out on any updates. Plus, we love seeing applications come through our own channels!
How to prepare for a job interview at Bunn Abbott Consulting
✨Know Your Numbers
As a Senior Finance Operations Assistant, you'll need to demonstrate strong mathematical and analytical skills. Brush up on your financial concepts and be ready to discuss how you've applied these skills in previous roles. Prepare examples of how you've successfully processed pro-rata accounts or handled complex financial data.
✨Research the Company Culture
This company values a collaborative and entrepreneurial culture. Familiarise yourself with their commitment to inclusion and diversity. During the interview, share how you align with these values and provide examples of how you've contributed to a positive team environment in the past.
✨Prepare for Technical Questions
Expect questions that assess your technical expertise in reinsurance and finance operations. Review key terms and processes related to pro-rata accounts, bordereaux, and loss-sensitive payments. Be ready to explain your experience with policy management systems and any relevant software like DXC SICS.
✨Showcase Your Communication Skills
Excellent verbal and written communication is crucial for this role. Practice articulating your thoughts clearly and concisely. Think of scenarios where you've effectively liaised with brokers or internal teams, and be prepared to discuss how you handle challenging conversations or feedback.
