At a Glance
- Tasks: Manage reinsurance operations, financial controls, and stakeholder relationships in a dynamic environment.
- Company: Leading Lloyd's Syndicate based in the heart of London.
- Benefits: Competitive salary, professional development opportunities, 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 on reinsurance strategies.
- Qualifications: Strong technical knowledge of reinsurance operations and accounting required.
The predicted salary is between 40500 - 49500 £ per year.
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 and 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.
- Audit & Controls
Outwards Reinsurance Manager in London employer: Jobiqo
Bromley Council is an exceptional employer, dedicated to fostering a supportive and inclusive work environment where employees can thrive. With a strong commitment to professional development, flexible working arrangements, and a generous benefits package, including a local government pension scheme and unique discounts, the Council prioritises employee well-being and career growth. Located in the vibrant Bromley Civic Centre, you will be part of a team that plays a crucial role in shaping the future of the borough while enjoying the balance of urban and suburban life.
StudySmarter Expert Advice🤫
We think this is how you could land Outwards Reinsurance Manager in London
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Jobiqo. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Outwards Reinsurance Manager in London
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Jobiqo.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Jobiqo's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Jobiqo
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Jobiqo.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Jobiqo will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Jobiqo employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
