At a Glance
- Tasks: Calculate reinsurance recoveries and manage relationships with brokers and reinsurers.
- Company: Join a leading insurance firm in the heart of London.
- Benefits: Enjoy private medical insurance, generous holiday entitlement, and a wellness programme.
- Other info: Dynamic work environment with opportunities for professional growth.
- Why this job: Make an impact in the reinsurance sector while developing your career.
- Qualifications: Degree-level education and relevant experience in reinsurance required.
The predicted salary is between 60000 - 75000 £ per year.
We are recruiting a Reinsurance Technical Manager for our London office. The role focuses on accurate calculation and recording of reinsurance recoveries, managing relationships with brokers and reinsurers, and leading process improvement and automation initiatives.
Responsibilities
- Ensure the calculation of facultative reinsurance recoveries so that advices can be produced and collection notes sent to brokers.
- Manage the administration of proportional treaty accounts on a quarterly basis.
- Handle excess of loss reinsurance recoveries to produce net reports monthly.
- Produce notifications to brokers of all collectable losses within set time limits to ensure efficient utilisation of reinsurance programmes.
- Inform the Head of Ceded Reinsurance of any large claims movements that may trigger a recovery.
- Provide high‑quality service to broker and reinsurer queries to facilitate prompt recovery of monies due.
- Manage relationships with credit control to recover aged debt.
- Support reinsurance placement and provide information to the Head of Ceded Reinsurance.
- Process claims and premiums in TICL and coordinate overlapping work with TSM for reinsurance claims and premiums.
- Transfer processing of cover notes, premium, claims and information for reinsurance placements to corporate systems.
- Coordinate staff workflow and provide training to develop employees.
- Oversee document retention processes, file retention, electronic file completeness, and data capture.
- Perform other duties as assigned.
Qualifications
- Degree‑level education.
- Relevant experience in a London‑based ceded reinsurance technical role.
- Thorough knowledge of the technical aspects of reinsurance from placement through administration, loss recovery, debt management and legal aspects.
- Comprehensive knowledge of reporting and Solvency II requirements.
- Intermediate project management skills.
- Intermediate staff management and leadership skills.
- Advanced relationship management with internal, broker and reinsurer stakeholders.
- Advanced calculation, document preparation and review skills with keen attention to detail.
- Advanced administrative and organisational skills.
- Advanced initiative, analytical thinking and flexibility.
- Advanced judgement and ability to work autonomously with little supervision.
- Advanced team‑working and “soft‑skill” communication proficiency.
- Ability to meet tight deadlines for TSM and TICL close and accounting schedules.
- Advanced time management and the capacity to deliver projects within prescribed timelines.
- Advanced understanding of reinsurance legal contracts and clause interpretation.
- ACII (or equivalent) qualification.
Must Have
- Thorough knowledge of the Reinsurance and London Market.
- Deep understanding of Lloyd’s, Lloyd’s systems and accounting practices.
- Comprehensive knowledge of insurance company processes and accounting practices.
- Proficiency in Microsoft products.
- Expertise in credit‑control systems, practices and recovery solutions, including instruction of legal representation and debt resolution.
Benefits
- Private Medical Insurance: Single cover available on commencement of employment; dependants’ cover optional.
- Retirement: Core company contribution to a pension plan with option for increased contribution.
- Holiday Entitlement: Minimum 25 days annually, with additional days purchasable up to 35 days.
- Wellness Programme: Tools, discounts and resources, including free professional counselling.
- Volunteer Encouragement: Matching Gift and Volunteer Rewards programme.
Equal Employment Opportunity
Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognise that we benefit in numerous ways from our differences. Travelers reserves the right to fill this position at a level above or below the level included in this posting.
Contact
If you have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.
Reinsurance Technical Manager employer: Travelers Canada
At Travelers, we pride ourselves on being an exceptional employer, offering a dynamic work culture in the heart of London that fosters professional growth and innovation. Our Reinsurance Technical Manager role not only provides competitive benefits such as private medical insurance and generous holiday entitlement but also encourages employee development through training and a supportive environment. Join us to be part of a diverse team that values your unique contributions and is committed to making a meaningful impact in the reinsurance industry.
StudySmarter Expert Advice🤫
We think this is how you could land Reinsurance Technical Manager
✨Network Like a Pro
Get out there and connect with people in the reinsurance industry! Attend events, join online forums, and don’t be shy about reaching out to professionals on LinkedIn. Building relationships can open doors that a CV just can’t.
✨Show Off Your Skills
When you get the chance to chat with potential employers, make sure to highlight your technical skills and experience in reinsurance. Be ready to discuss specific projects or challenges you've tackled, especially those related to process improvement and automation.
✨Prepare for Interviews
Do your homework before interviews! Understand the company’s reinsurance processes and be prepared to discuss how your background aligns with their needs. Practise common interview questions and think of examples that showcase your expertise in the London market.
✨Apply Through Our Website
Don’t forget to apply directly through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re genuinely interested in joining our team at StudySmarter.
We think you need these skills to ace Reinsurance Technical Manager
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Reinsurance Technical Manager role. Highlight your relevant experience in ceded reinsurance and any specific projects you've led that align with the responsibilities listed in the job description.
Craft a Compelling Cover Letter:Your cover letter should tell us why you're the perfect fit for this role. Use it to showcase your understanding of the London Market and your advanced relationship management skills. Don't forget to mention your enthusiasm for process improvement!
Showcase Your Skills:In both your CV and cover letter, make sure to highlight your advanced calculation and analytical skills. We want to see how you’ve used these skills in past roles, especially in relation to reinsurance recoveries and debt management.
Apply Through Our Website:We encourage you to apply through our website for the best chance of being noticed. It’s the easiest way for us to keep track of your application and ensure it gets to the right people!
How to prepare for a job interview at Travelers Canada
✨Know Your Numbers
As a Reinsurance Technical Manager, you'll need to demonstrate your expertise in calculating reinsurance recoveries. Brush up on your numerical skills and be ready to discuss specific examples of how you've managed calculations and reporting in previous roles.
✨Showcase Relationship Management Skills
This role involves managing relationships with brokers and reinsurers, so be prepared to share experiences where you've successfully navigated these relationships. Highlight your communication skills and any strategies you've used to resolve conflicts or improve collaboration.
✨Understand the Legal Landscape
With a focus on reinsurance legal contracts, it's crucial to show your understanding of relevant laws and regulations. Familiarise yourself with key legal terms and be ready to discuss how you've applied this knowledge in past positions.
✨Demonstrate Process Improvement Mindset
The job requires leading process improvement initiatives, so think of examples where you've identified inefficiencies and implemented changes. Be ready to discuss your project management skills and how you've driven automation or streamlined processes in your previous roles.
