At a Glance
- Tasks: Calculate and manage reinsurance assets while collaborating with various teams.
- Company: Join a market-leading insurance organisation in London.
- Benefits: Strong career development, collaborative environment, and exposure to global programmes.
- Other info: Opportunity for process improvement and involvement in critical initiatives.
- Why this job: Make an impact in a dynamic role within a specialist Reinsurance Asset Management team.
- Qualifications: Experience in reinsurance and strong analytical skills required.
The predicted salary is between 50000 - 65000 £ per year.
An excellent opportunity has arisen for an experienced Reinsurance Technician / Reinsurance Asset Handler to join a high-performing Reinsurance Asset Management team. The successful candidate will play a key role in the calculation, management and monitoring of reinsurance assets across complex company market and Lloyd's syndicate business.
Working within the Quota Share (QS) Pillar, you will collaborate closely with Reinsurance, Finance, Claims, Credit Control and Broking teams to ensure the accurate and timely administration of reinsurance recoverables and associated accounting activities.
Key Responsibilities
- Identify and calculate reinsurance assets with a focus on Quota Share arrangements.
- Produce premium and claims bordereaux to support reinsurance accounting activities.
- Book premiums, profit commissions, sliding scale commissions and cash calls.
- Support reinsurance recovery and settlement processes.
- Liaise with Finance, Claims, Brokers and other stakeholders to resolve queries.
- Assist with KPI reporting and operational deliverables.
- Maintain and update tracking, reconciliation and control tools.
- Support internal and external audit requirements.
- Contribute to process improvement initiatives and operational efficiencies.
- Assist with wider team activities as required.
Skills & Experience
- Strong reinsurance experience.
- Strong understanding of reinsurance accounting, recoveries and asset management processes.
- London Market and/or Lloyd's syndicate experience preferred.
- Strong analytical and problem-solving skills.
- Excellent verbal and written communication skills.
- Ability to challenge existing processes and drive improvements.
- Advanced Microsoft Excel skills, including Pivot Tables and VLOOKUPs.
- Strong attention to detail and organisational skills.
- Ability to learn quickly and adapt within a dynamic environment.
- Experience using AI-enabled tools would be advantageous.
What's on Offer
- Opportunity to join a market-leading insurance organisation.
- Exposure to complex global reinsurance programmes.
- Collaborative and supportive working environment.
- Strong career development opportunities.
- Involvement in business-critical operational and process improvement initiatives.
This role would suit a technically strong reinsurance professional looking to further develop their expertise within a specialist Reinsurance Asset Management function.
StudySmarter Expert Advice🤫
We think this is how you could land Reinsurance Technician in City of London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Lorien). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Lorien. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Reinsurance Technician in City of London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Lorien.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Lorien. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Lorien
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Lorien to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Lorien, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Lorien's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
