At a Glance
- Tasks: Manage reinsurance operations, ensuring accuracy and compliance across all activities.
- Company: Dynamic Lloyd's Syndicate in the heart of London with a hybrid work model.
- Benefits: Competitive salary, flexible working, and opportunities for professional growth.
- Other info: Join a collaborative team focused on continuous improvement and innovation.
- Why this job: Be a key player in shaping reinsurance strategies and driving financial success.
- Qualifications: Experience in reinsurance operations and strong analytical skills required.
The predicted salary is between 40500 - 49500 £ per year.
- Outwards Reinsurance Manager
- City of London - Hybrid
- Lloyd's Syndicate
Key Responsibilities
- Reinsurance Operations
- Oversee the accurate and timely execution of all reinsurance activities across the function.
• Maintain hands-on oversight of
- Bordereaux preparation and submission.
- Contract setup, validation and ongoing maintenance within reinsurance systems.
- Reinsurance settlements, cash processing and reconciliations.
- Claims recoveries tracking, follow-up and resolution.
- Review outputs thoroughly, identifying and resolving discrepancies and ensuring data is complete, consistent and accurate.
- Maintain comprehensive documentation and audit trails across all reinsurance transactions.
- Financial Control & Reporting
• Oversee and prepare key reinsurance financial outputs, including
- Premium and recovery estimates.
- Profit commission calculations.
- Ceded balances and reconciliations.
- Ensure reinsurance-related accounts are reconciled accurately and on a timely basis to support financial reporting and month-end close.
- Prepare and analyse reinsurance reporting, including P&L, cash flow and management information.
- Prepare materials and reporting for relevant reinsurance governance committees.
- Work closely with Finance and Actuarial teams, providing accurate data to support reserving and regulatory reporting.
- Controls, Audit & Governance
- Develop, implement and maintain a robust control framework across reinsurance processes.
- Ensure compliance with applicable internal standards, policies and regulatory requirements.
- Act as a key point of contact for internal and external audit, coordinating responses and supporting documentation.
- Ensure adherence to Lloyd’s requirements and relevant regulatory standards.
- Maintain strong governance around contract certainty, approvals and documentation quality.
- Credit Control & Cash Management
- Oversee the collection of reinsurance recoveries and settlement of ceded payables.
- Monitor aged balances and proactively drive resolution to support strong cash conversion and minimise leakage.
- Maintain oversight of reinsurer exposures, balances and settlement performance.
- Stakeholder Management
- Act as a central point of coordination between Underwriting, Finance, Actuarial, Claims and offshore teams.
- Build and maintain effective relationships with brokers and reinsurers, ensuring strong execution and delivery.
- Provide technical guidance to internal stakeholders on reinsurance operations, accounting, controls and reporting.
- Systems, Process & Continuous Improvement
- Lead the development and optimisation of reinsurance systems, processes and controls.
- Contribute to system implementation, configuration, testing and ongoing enhancements.
- Identify operational inefficiencies and implement improvements to strengthen accuracy, control and timeliness.
- Support the development of scalable processes aligned to the organisation’s target operating model.
- Reinsurance Strategy & Placement
- Partner with Underwriting to support the implementation and ongoing management of the outwards reinsurance programme.
- Undertake analysis of reinsurance arrangements, considering cost, recoverability, counterparty exposure and overall effectiveness.
- Support renewal activity through analysis, preparation and execution.
- Engage with brokers and other external stakeholders as required throughout the renewal and placement process.
- Key Areas of Focus
- Audit & Controls
- Ensure all reinsurance balances, transactions and outputs are fully supported, reconciled and audit-ready.
- Maintain clear audit trails and robust evidential documentation across all processes.
- Technical Ownership
- Act as a subject matter expert across reinsurance operations, accounting and controls.
- Ensure the accurate interpretation and application of reinsurance contracts within systems, processes and financial reporting.
Outwards Reinsurance Manager in London employer: HFG Insurance Recruitment
Join a leading commercial insurance business in Surrey, where we prioritise a collaborative and inclusive work culture that fosters professional growth and development. As the Head of Compliance & Regulatory Strategy, you will benefit from a competitive salary package, including a generous bonus structure and long-term incentives, all while working alongside industry experts at the forefront of compliance leadership. Our commitment to employee well-being and career advancement makes us an exceptional employer for those seeking meaningful and rewarding opportunities.
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.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like HFG Insurance Recruitment). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨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 HFG Insurance Recruitment. 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 HFG Insurance Recruitment.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at HFG Insurance Recruitment. 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 HFG Insurance Recruitment
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at HFG Insurance Recruitment 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 HFG Insurance Recruitment, 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 HFG Insurance Recruitment'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.
