At a Glance
- Tasks: Manage reinsurance contracts and ensure timely processing within the XLPro system.
- Company: Join a leading reinsurance firm with a focus on innovation and teamwork.
- Benefits: Competitive salary, flexible working options, and opportunities for professional growth.
- Other info: Collaborative environment with potential for career advancement.
- Why this job: Be part of a dynamic team making impactful decisions in the reinsurance industry.
- Qualifications: Strong Excel skills and experience in various types of reinsurance required.
The predicted salary is between 50000 - 65000 £ per year.
Overview
This role is part of the Ceded Reinsurance Operations Team and will work closely with other team members and internal/external stakeholders to ensure reinsurance contracts are interpreted, entered, and serviced within the XLPro system in a timely manner.
Responsibilities
- Set up and manage ceded placement and accounting files.
- Record ceded coverage details in IRIS and the Reinsurance System.
- Prepare and render quota share account statements for proportional reinsurance and ensure policy conditions and accounting terms are met.
- Ensure premium payments are made on facultative and excess of loss purchases in line with terms of trade.
- Report ceded reinsurance premiums and claims figures internally and externally.
- Record ceded reinsurance programmes in corporate underwriting and reinsurance systems.
- Assist with the implementation of a new ceded reinsurance system through project phases, liaising with Finance for general ledger reconciliations.
- Ensure adherence to internal controls, including Risk and SOX controls.
- Assist in producing all ceded premium/financial data, review and enhance the current provision of data for internal and external reporting.
- Manage broker relationships and ensure efficient account management.
- Liaise with ceded reinsurance purchasers and prepare renewal information as required.
- Review current procedures and recommend enhancements to improve processes.
- Perform peer review of ceded reinsurance record entry into source systems.
- Assist with financial reporting, committee and board packs, and regulatory returns.
Qualifications
- Strong Excel skills.
- Ability to work with data in a manual environment.
- Priority and deadline management.
- Good written and verbal communication skills.
- Ability to work independently and use initiative.
- Experience with all major types of reinsurance: facultative, quota share, and excess of loss.
- Extensive experience in non-marine and marine, particularly property and casualty classes.
- Experience with ceded reinsurance regulatory returns, including SRP/SRS, QMA, and Solvency II.
- Understanding of the end-to-end ceded reinsurance process from placement through credit control and reporting.
- Prior experience with IRIS and LORS is advantageous.
- #J-18808-Ljbffr
Senior Ceded Re Technician in London employer: Mcneil & Co.
McNeil & Co. is an excellent employer, offering a dynamic work environment in the heart of London where innovation and collaboration thrive. As an Underwriting Operations Apprentice, you will benefit from a structured apprenticeship programme that not only provides valuable qualifications but also fosters personal and professional growth through hands-on experience and mentorship. Join a team that values efficiency and creativity, and be part of a company committed to your success and development in the financial services sector.
