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- Tasks: Manage data capture and reporting for Outwards Reinsurance contracts.
- Company: Join a leading global Insurance business with a strong reputation.
- Benefits: Enjoy competitive perks and opportunities for professional growth.
- Why this job: Be part of a dynamic team, enhancing processes and making an impact in the industry.
- Qualifications: Re-Insurance knowledge from a relevant background is essential.
- Other info: Collaborate with various teams to ensure seamless operations and compliance.
The predicted salary is between 36000 - 60000 £ per year.
Outwards Reinsurance Technician required by leading global Insurance business. The purpose of the role will be to manage the contract data capture and reporting activities for the business entities both Syndicate and Company markets in respect of Outwards Reinsurance. The role will require building and maintaining close links with OWRI Purchasing, Claims, Finance and other operations functions to ensure a seamless and co-ordinated approach throughout.
Key Responsibilities:
- Collaborate with the Reinsurance Purchasing Team to contribute to the successful data capture of complex global reinsurance contracts in our systems, by understanding the system limitations and suggesting alternative solutions, including contract structure amendments that reduce the manual work and intervention needed to administer contracts through their lifespan.
- Ensure that data capture for new contracts, renewals, extensions, adjustments and endorsements for both company and syndicate entities across the platforms in use is completed and recorded in an accurate and timely manner.
- Complete the calculation and submission of the various regulatory returns produced within the team.
- Collaborate to ensure compliance with all internal controls within SLAs.
- Work with Finance and Purchasing Teams to calculate the premium adjustments.
- Deputise and contribute to status updates both on the bi-weekly RAM Team meetings and Pillar meeting agenda.
- Support the Pillar Head to enhance procedure notes, filing structure and workflow processes within the pillar.
- Monitor contracts to ensure all sanctions and embargoes rules are adhered to.
- Support the continued development of the Outwards RI Target Operating Model, working to establish consistent best practice and ensure we are leaders in outwards RI operations.
The successful candidate will have good Re-Insurance knowledge, gained from either a Re-Insurance or Broker background.
Outwards Reinsurance Technician employer: IPS Group
Contact Detail:
IPS Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Outwards Reinsurance Technician
✨Tip Number 1
Familiarise yourself with the specific software and systems used in outwards reinsurance. Understanding the technical aspects of data capture and reporting will give you an edge during interviews, as you'll be able to discuss how you can optimise these processes.
✨Tip Number 2
Network with professionals in the reinsurance industry, especially those who work in roles similar to the Outwards Reinsurance Technician. Engaging in conversations about best practices and challenges can provide valuable insights and may even lead to referrals.
✨Tip Number 3
Stay updated on regulatory changes and compliance requirements in the reinsurance sector. Being knowledgeable about current regulations will demonstrate your commitment to the role and your ability to ensure compliance within the team.
✨Tip Number 4
Prepare to discuss your experience with collaboration across different teams, such as Finance and Claims. Highlighting your ability to work effectively with various departments will show that you can contribute to a seamless and coordinated approach in the role.
We think you need these skills to ace Outwards Reinsurance Technician
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities of an Outwards Reinsurance Technician. Familiarise yourself with key terms and processes related to reinsurance, as this will help you tailor your application.
Highlight Relevant Experience: In your CV and cover letter, emphasise any previous experience in reinsurance or brokerage. Be specific about your roles and how they relate to the responsibilities outlined in the job description.
Showcase Your Skills: Demonstrate your analytical skills and attention to detail in your application. Mention any experience with data capture, compliance, and collaboration with finance or purchasing teams, as these are crucial for the role.
Tailor Your Application: Customise your cover letter to reflect your understanding of the company's operations and how you can contribute to their goals. Mention your knowledge of regulatory returns and best practices in reinsurance to stand out.
How to prepare for a job interview at IPS Group
✨Understand the Role
Make sure you have a solid grasp of what an Outwards Reinsurance Technician does. Familiarise yourself with the key responsibilities mentioned in the job description, such as data capture and collaboration with various teams. This will help you answer questions confidently and demonstrate your interest in the role.
✨Showcase Your Reinsurance Knowledge
Since the role requires good reinsurance knowledge, be prepared to discuss your experience in this area. Think of specific examples from your previous roles that highlight your understanding of reinsurance contracts and how you've successfully managed data capture or compliance in the past.
✨Prepare Questions
Interviews are a two-way street, so prepare thoughtful questions to ask the interviewer. Inquire about the team dynamics, the tools they use for data capture, or how they measure success in the role. This shows your enthusiasm and helps you assess if the company is the right fit for you.
✨Demonstrate Collaboration Skills
The role involves working closely with various teams like Finance and Purchasing. Be ready to discuss how you've effectively collaborated in past roles. Share examples of how you’ve built relationships and communicated across departments to achieve common goals.
