At a Glance
- Tasks: Manage outwards reinsurance operations and ensure effective programme implementation.
- Company: Global specialty insurer with a focus on innovation and collaboration.
- Benefits: Competitive salary, career growth opportunities, and a dynamic work environment.
- Other info: Collaborate with diverse teams and enhance operational processes.
- Why this job: Join a leading insurer and make a real impact in the reinsurance sector.
- Qualifications: Experience in outwards reinsurance and strong analytical skills required.
The predicted salary is between 66150 - 80850 £ per year.
A global specialty insurer is seeking an experienced Outwards Reinsurance Manager to oversee the end-to-end management of its outwards reinsurance function. The role is responsible for ensuring the effective implementation of reinsurance programmes, maintaining robust operational controls, and delivering accurate financial reporting and governance. Working closely with underwriting, finance, actuarial, claims and external partners, the successful candidate will provide technical expertise, oversee day-to-day reinsurance operations, support strategic reinsurance initiatives, and drive continuous process and systems improvements within a Lloyd's market environment.
Key Responsibilities
- Manage the end-to-end delivery of outwards reinsurance operations.
- Oversee bordereaux production and submissions.
- Maintain reinsurance contract setup, validation and ongoing system administration.
- Manage reinsurance settlements, cash processing and reconciliations.
- Monitor and resolve reinsurance claims recoveries.
- Ensure data accuracy, completeness and comprehensive documentation across all reinsurance activities.
- Prepare and oversee premium, recovery and profit commission calculations.
- Reconcile ceded balances and support financial close activities.
- Produce reinsurance financial reporting, management information, cash flow and P&L analysis.
- Support finance and actuarial teams with reserving and regulatory reporting requirements.
- Develop and maintain robust controls across reinsurance processes.
- Ensure compliance with internal policies, Lloyd's requirements and regulatory standards.
- Act as the primary contact for internal and external audits.
- Maintain strong governance over contract certainty, approvals and documentation.
- Oversee collection of reinsurance recoveries and settlement of ceded balances.
- Monitor aged debt and drive timely resolution.
- Track reinsurer exposures and settlement performance.
- Coordinate activities across underwriting, finance, actuarial, claims and operational teams.
- Build effective relationships with brokers and reinsurers.
- Provide technical guidance on reinsurance operations, reporting and controls.
- Lead improvements to reinsurance systems and operational processes.
- Support system implementation, testing and configuration.
- Identify opportunities to improve efficiency, control and scalability.
- Support underwriting with implementation of the outwards reinsurance programme.
- Analyse programme performance, recoverability, counterparty exposure and cost effectiveness.
- Assist with renewal planning, analysis and broker engagement.
Must Have
- Significant experience in outwards reinsurance within the Lloyd's insurance market.
- Strong technical knowledge of reinsurance operations, accounting principles and contract structures.
- Experience using reinsurance administration systems (e.g. XLPro or equivalent).
- Strong financial reporting, reconciliation and analytical skills.
- Thorough understanding of audit, governance and regulatory requirements.
- Proven ability to manage end-to-end operational delivery while maintaining strong attention to detail.
- Experience working collaboratively with underwriting, finance, actuarial and claims functions.
- Excellent stakeholder management and communication skills.
- Demonstrated ability to improve processes, systems and operational controls.
Discipline(s): Finance & Strategy
Job type: Permanent
Outwards Reinsurance Manager in London employer: Edenbrook
Edenbrook is an exceptional employer that fosters a collaborative and innovative work culture, making it an ideal place for professionals in the financial reporting sector. With a strong commitment to employee development, we offer numerous growth opportunities and support for continuous learning, all while working in a dynamic environment that values integrity and excellence. Located in a vibrant area, our team enjoys a balanced work-life experience alongside competitive benefits tailored to enhance both personal and professional well-being.
StudySmarter Expert Advice🤫
We think this is how you could land Outwards Reinsurance Manager in London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
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✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Edenbrook. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Outwards Reinsurance Manager in London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Edenbrook.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Edenbrook. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Edenbrook
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Edenbrook to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Edenbrook, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Edenbrook's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
