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- Tasks: Manage reinsurance contracts and ensure compliance with obligations.
- Company: Join a leading global Re-Insurer in the heart of London.
- Benefits: Enjoy competitive pay, career growth opportunities, and a dynamic work environment.
- Other info: Opportunity to train and mentor new team members while enhancing your skills.
- Why this job: Be part of a transformative team that shapes the future of reinsurance.
- Qualifications: Experience in various reinsurance types is essential; familiarity with LORS is a plus.
The predicted salary is between 48000 - 72000 £ per year.
I am currently working with a global Re-Insurer to recruit a Senior Ceded Reinsurance Technician within their City of London office. This position will play a pivotal role within the ceded reinsurance operations team, supporting the Technical Operations Manager in the delivery of post placement administration of the ceded reinsurance program, including monthly, quarterly and annual reporting and analysis.
Day to day responsibilities will include:
- Administer Reinsurance contracts to ensure the Group complies with all contractual obligations, to include the calculation and processing of Minimum and Deposit premiums, premium adjustments, quota share statements and bordereaux, profit commissions and No Claim Bonuses.
- Ensuring all Ceded Reinsurance contracts are accurately recorded in the policy admin system.
- Administer payment requests and credit control recoveries balances.
- Calculate and process facultative and excess of loss reinsurance recoveries.
- Assist with the peer review of certain tasks carried out by colleagues.
- Assist with training new and current team members when required.
- Provide pro-active customer service to Operations, Underwriting, Actuarial, IT and Finance teams. Respond promptly to reinsurer and broker queries.
- Be actively involved in the on-going development of the Company’s reinsurance administration procedures and systems.
- Leading contribution to the Ceded RI workstream of the Business Transformation project.
- Undertake any reasonable duties as may be requested by the Ceded Reinsurance Technical Operations Manager.
- Assist with credit control on outwards RI collections.
The ideal candidate will have experience of multiple types of reinsurance, including Facultative and XOL; good exposure to LORS will be an advantage.
Contact Detail:
IPS Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Intl Senior Ceded Reinsurance Technician
✨Tip Number 1
Familiarise yourself with the specific types of reinsurance mentioned in the job description, such as Facultative and Excess of Loss (XOL). Understanding these concepts will not only help you during interviews but also demonstrate your commitment to the role.
✨Tip Number 2
Network with professionals in the reinsurance industry, especially those who work in ceded reinsurance. Attend industry events or join relevant online forums to gain insights and potentially get referrals that could boost your application.
✨Tip Number 3
Brush up on your analytical skills, as the role involves reporting and analysis. Consider taking a short course or using online resources to enhance your proficiency in data analysis tools that are commonly used in the insurance sector.
✨Tip Number 4
Prepare to discuss your experience with customer service and collaboration across teams. The job requires proactive communication with various departments, so be ready to share examples of how you've successfully worked with others in past roles.
We think you need these skills to ace Intl Senior Ceded Reinsurance Technician
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities of a Senior Ceded Reinsurance Technician. Familiarise yourself with terms like ceded reinsurance, premium adjustments, and bordereaux to demonstrate your knowledge in your application.
Tailor Your CV: Highlight relevant experience in reinsurance, particularly with facultative and excess of loss reinsurance. Use specific examples from your past roles that showcase your ability to manage contracts and provide customer service effectively.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention how your skills align with the job requirements, particularly your experience with reinsurance operations and your ability to work collaboratively with various teams.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any errors or typos. A polished application reflects your attention to detail, which is crucial in the reinsurance industry.
How to prepare for a job interview at IPS Group
✨Know Your Reinsurance Basics
Make sure you have a solid understanding of reinsurance concepts, especially Facultative and Excess of Loss (XOL) reinsurance. Brush up on key terms and processes, as this will demonstrate your expertise and confidence during the interview.
✨Showcase Your Analytical Skills
Since the role involves reporting and analysis, be prepared to discuss your experience with data analysis and reporting tools. Highlight specific examples where you've successfully managed complex data sets or improved reporting processes in previous roles.
✨Emphasise Team Collaboration
This position requires working closely with various teams such as Operations, Underwriting, and Finance. Be ready to share examples of how you've effectively collaborated with different departments in the past and how you can contribute to a positive team dynamic.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving abilities and customer service skills. Think of scenarios where you've had to handle challenging queries from reinsurers or brokers, and be ready to explain how you resolved those situations.