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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.
- Why this job: Be part of a transformative team impacting global reinsurance operations.
- Qualifications: Experience in various reinsurance types is essential; familiarity with LORS is a plus.
- Other info: Opportunity to train and mentor new team members while enhancing your skills.
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 help you land the job.
✨Tip Number 3
Brush up on your analytical skills, as the role involves reporting and analysis. Being able to showcase your ability to interpret data and provide actionable insights will set you apart from other candidates.
✨Tip Number 4
Prepare to discuss your experience with policy administration systems. Highlight any specific software you’ve used in the past, as familiarity with these systems is crucial for the role and can give you an edge in the selection process.
We think you need these skills to ace Intl Senior Ceded Reinsurance Technician
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in ceded reinsurance, including any specific roles you've held that relate to the responsibilities mentioned in the job description. Use keywords from the job listing to demonstrate your fit for the position.
Craft a Compelling Cover Letter: In your cover letter, explain why you are interested in this role and how your background aligns with the company's needs. Mention your experience with reinsurance contracts, premium calculations, and any relevant software or systems you have used.
Showcase Your Analytical Skills: Since the role involves reporting and analysis, provide examples in your application of how you've successfully handled data analysis or reporting in previous positions. Highlight any tools or methodologies you used to achieve results.
Demonstrate Team Collaboration: The job requires working closely with various teams. Include examples in your application that showcase your ability to collaborate effectively with different departments, such as Operations, Underwriting, and Finance.
How to prepare for a job interview at IPS Group
✨Know Your Reinsurance Basics
Make sure you brush up on your knowledge of ceded reinsurance, including terms like facultative and excess of loss. Being able to discuss these concepts confidently will show that you understand the core responsibilities of the role.
✨Demonstrate Analytical Skills
Since the position involves reporting and analysis, be prepared to discuss your experience with data analysis. Bring examples of how you've used analytical skills in previous roles, especially in relation to premium calculations or reporting.
✨Showcase Team Collaboration
This role requires working closely with various teams such as Operations, Underwriting, and Finance. Be ready to share examples of how you've successfully collaborated with different departments in the past, highlighting your communication skills.
✨Prepare for Scenario Questions
Expect questions that ask how you would handle specific situations, such as responding to a reinsurer's query or managing a payment request. Think through potential scenarios and how you would approach them to demonstrate your problem-solving abilities.
