Reinsurance Technical Manager

Who Are We? Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 170 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

What Is the Opportunity? We are currently recruiting for a Reinsurance Technical Manager to join our team in London. We are seeking a forward-thinking, data-driven, and highly analytical individual with a strong focus on process improvement and automation, and the capability to lead and develop others as the role evolves. The ideal candidate will bring significant experience from a similar reinsurance background and a strong and demonstrable understanding of reinsurance operations is essential, gained through hands-on experience in the field. Under general direction, manages the administration of all aspects of claims, premiums and information that require processing within Ceded Re. As Ceded Reinsurance Technical Manager, ensures that reinsurance recoveries are accurately calculated and recorded for inclusion in management reports and Lloyd’s regulatory returns. Maintains relationships with brokers and oversees the advice and collection process for recoveries. Works closely with the Head of Ceded Re in preparing reinsurance placement packs and providing information as requested or required for the placement process. The role operates across Travelers Syndicate Management (TSM) and Travelers Insurance Co Ltd (TICL).

What Will You Do?

• Responsible for ensuring the calculation of facultative reinsurance recoveries are completed so that advices can be produced and collection notes can be sent to brokers.
• Manages the administration of the proportional treaty accounts on a quarterly basis.
• Manages in excess of loss reinsurance recoveries so that net reports can be produced on a monthly basis.
• Ensures production of notifications to brokers of all collectable losses within a set time limit to ensure the efficient utilisation of reinsurance programmes.
• Informs Head of Ceded Reinsurance of any large claims movements so that he is aware of claims that could potentially trigger a recovery on any of the TICL / TSMs reinsurance programmes.
• Ensures good service to brokers’ / reinsurers’ queries to manage in the prompt recovery of monies due.
• Manages relationships and works with outwards credit control to assist with the recovery of aged debt.
• Supports the Head of Ceded Re in reinsurance placements and provides all help in production of information.
• Manages processing in TICL and coordinate overlap with TSM for RI claims and premiums and information.
• Manages processing to corporate systems all Cover notes, Premium, Claims and information for reinsurances placed for relevant accounts.
• Coordinates workflow of direct staff and supports the development of employees by providing training appropriate to their needs.
• Manages document retention processes, file retention, electronic file completeness and data capture.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Degree level education.
• Relevant work experience within 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 affecting each of these areas.
• A thorough knowledge of technical wordings and aspects of law relating to technical wordings, with comprehensive knowledge of reporting and solvency II requirements.
• Intermediate project management skills; intermediate staff management and leadership skills; advanced relationship management (internal / broker and reinsurer).
• Advanced calculation and document crafting / reviewing with attention to detail.
• Advanced administrative skills.
• Advanced initiative, analytical thinking and flexibility; advanced judgment.
• Advanced team working and also able to work autonomously with little supervision; advanced verbal and written communication skills to external and internal clients.
• Advanced ability to work within tight deadlines for general TSM and TICL close and accounting deadlines.
• Advanced time management and project delivery, ad hoc job and information requests to prescribed timelines.
• Advanced understanding of reinsurance legal contracts and clause interpretation/application.
• ACII (or equivalent) qualification.

What is a Must Have?

• Thorough knowledge of the Reinsurance and London Market.
• Thorough understanding of Lloyd’s, Lloyd’s systems and accounting practices, thorough knowledge of insurance company processes and accounting practices.
• Thorough knowledge of methods, systems and practices to manage reinsurance, thorough knowledge of Microsoft products.
• Thorough knowledge of credit control systems, practices, recovery solutions including instruction of legal representation and management of debt resolution.

What Is in It for You?

• Private Medical Insurance: On commencement of employment, you are eligible for single cover provided by Travelers, with the option to add cover for your dependents, at your expense through payroll deduction.
• Retirement: Travelers will make a core contribution of a percentage of salary to your Pension Plan. Additionally, if you decide to contribute to the plan, you will receive an increased company contribution.
• Holiday Entitlement: Start your career at Travelers with a minimum of 25 days holiday entitlement annually, plus the opportunity to purchase additional days to allow for up to a total of 35 holidays per year.
• Wellness Programme: The Travelers wellness programme is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health programme provides access to free professional counselling services and other resources that support your daily life needs.
• Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards programme that enables you to give back to the charity of your choice.

Employment Practices: Travelers is an equal-opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit from our differences. To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.