Senior Ceded Reinsurance Technician (London Area)

About us

The Fidelis Partnership is a leading specialty, bespoke and (re)insurance business. We have built our name on a 40-year track record of outperformance, and we continue to beat the market in our underwriting and returns. More information on The Fidelis Partnership can be found at www.fidelispartnership.com.

The Company currently writes lines of business including specialty insurance: aviation & aerospace, energy, marine, property, terror & political violence, contingency and other specialty lines; reinsurance: property reinsurance, property retrocession, specialty reinsurance, whole account/multi-class and bespoke.

Role Overview

This role will be an essential part of the Ceded Reinsurance Operations team, reporting to the Ceded Reinsurance Technical Operations Manager. The Senior Ceded Reinsurance Technician’s role is to support the Ceded Reinsurance Technical Operations Manager in delivering timely and accurate post-placement administration of Fidelis group’s Ceded reinsurance program. The incumbent is expected to possess a good level of systems and data knowledge and a strong understanding of technical Ceded RI concepts, allowing them to proactively contribute to both the day-to-day running of the Ceded RI program and Ceded RI project activity.

Role Responsibilities

• Administer reinsurance contracts to ensure the Group complies with all contractual obligations, to include the calculation and processing of M&D premiums, premium adjustments, quota share statements and bordereaux, profit commissions and NCB’s.
• Ensuring all ceded reinsurance contracts are accurately recorded in the policy admin system.
• Administer payment requests and credit control recoveries balances.
• Calculate and process facultative and excess of loss reinsurance recoveries.
• Assist with the peer review of certain tasks carried out by colleagues.
• Assist with training new and current team members when required.
• Provide pro-active customer service to operations, underwriting, actuarial, IT and finance teams.
• Respond promptly to reinsurer and broker queries.
• Be actively involved in the on-going development of the Company’s reinsurance administration procedures and systems.
• Leading contribution to the Ceded RI workstream of the Business Transformation project.
• Assist in the production of programme summaries and schematics.
• Assist in the preparation of various information to aid the analysis and placement of reinsurance programmes.
• Undertake SOX peer reviews and quality assurance checks within defined Service Level Agreements.
• Ensure all tasks are completed for month/quarter close e.g. month end exception reporting and other Finance related tasks as required.
• Act as SME and primary contact for the Ceded Re Operations teams obligations and ensure other technicians in the team are meeting expected standards and deadlines.
• Support and lead projects to include but not limited to Phase 4 of the Ceded Re transformation project, internal and external audits, testing as required and promote adherence to best practices.
• Ensure monthly internal and Insurance Group SLA/KPIs are met.
• Undertake any reasonable duties as may be requested by the Ceded Reinsurance Technical Operations Manager.

Skills & Experience

• University degree, preferably in a numerate field (finance, statistics, economics, mathematics, etc.).
• At least 5 years’ experience in a similar role.
• Combined Company and Lloyds background beneficial.
• An excellent level of insurance and reinsurance knowledge required.
• Strong knowledge of the Microsoft Suite of applications with Excel skills such as iterative formulae (nested ifs), multi-criteria lookups (index, match), sumifs and pivot tables. Power query/VBA/SQL experience a plus, but not required.
• Strong analytical and organizational skills.
• Ability to work effectively as part of the Ceded Reinsurance Team as well as with other key stakeholders across different functions within the organization.
• Ability to work under pressure and handle a varied, fluctuating workload.

The Fidelis Partnership Ethos

Our culture is defined by our ethos. It is the foundation of who we are and the core of everything we do.

• Results – We want to be the best at the things we care about, so we focus on profitability over volume, with responsive decision-making and clear prioritised accountability.
• Innovate – We aspire to lead the market in providing the services and products our clients need, and to drive change in the broader impact our industry has on human rights, society, and environmental sustainability.
• Include – We create an environment where employees can bring their whole self to work, with open communication where everyone, irrespective of gender, ethnicity, sexual orientation or background, feels able to contribute ideas and be recognised and rewarded for their contribution.
• Unite – We operate as a team of individual talents that actively seeks to reflect the diversity of the societies in which we operate, giving our business the widest range of inputs and perspectives.
• Respond – We work in a business exposed to sudden shocks and changes – elemental, political, economic and human – so we remain nimble and ready for change.

Diversity, Equality & Inclusion

Our vision is for a workplace culture where differences are valued and where diversity of background, experience and thought are welcomed. We want to create an environment where all employees, regardless of who they are, are given equal opportunities for career progression and enjoy fair reward from their and The Fidelis Partnership successes. This will be driven by a workforce that embraces Diversity and Inclusion at every level, in every department across The Fidelis Partnership.