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.
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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.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Ceded Re Technician in 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 Mcneil & Co.). 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 Mcneil & Co.. 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 Senior Ceded Re Technician in 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 Mcneil & Co..
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Mcneil & Co.. 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 Mcneil & Co.
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Mcneil & Co. 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 Mcneil & Co., 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 Mcneil & Co.'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.
