At a Glance
- Tasks: Manage reinsurance operations, financial controls, and stakeholder relationships in a dynamic environment.
- Company: Leading Lloyd's Syndicate in the heart of London.
- Benefits: Competitive salary, professional development, and a collaborative team culture.
- Other info: Opportunity for career growth and continuous improvement in processes.
- Why this job: Join a growing business and make a significant impact in the reinsurance sector.
- Qualifications: Strong technical knowledge of reinsurance operations and accounting required.
The predicted salary is between 59400 - 72600 £ per year.
New Vacancy - Outwards Reinsurance Manager
Lloyd's Syndicate
City of London
I am currently partnered with a leading Syndicate who are seeking an Outwards Reinsurance Manager to join their growing business.
You will be responsible for overseeing the operational, financial and control aspects of the reinsurance function, working closely with underwriting, finance, actuarial, claims, brokers and reinsurers.
The successful candidate will have strong technical knowledge of reinsurance operations and accounting, combined with a hands-on approach to controls, reporting, cash management & more.
Key Responsibilities
- Reinsurance Operations
- New Vacancy - Outwards Reinsurance Manager
Lloyd's Syndicate
City of London
I am currently partnered with a leading Syndicate who are seeking an Outwards Reinsurance Manager to join their growing business.
You will be responsible for overseeing the operational, financial and control aspects of the reinsurance function, working closely with underwriting, finance, actuarial, claims, brokers and reinsurers.
The successful candidate will have strong technical knowledge of reinsurance operations and accounting, combined with a hands-on approach to controls, reporting, cash management & more.
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.
- #J-18808-Ljbffr
Outwards Reinsurance Manager 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.
