Ceded Reinsurance Technician

General

Job Title: Ceded Reinsurance Technician

Key Relationships: Ceded Reinsurance team, underwriting assistants, claims managers, operations managers in underwriting teams and reinsurance brokers.

Job Summary: To be accountable for the accurate and timely administration of reinsurance contracts, the timely receipt of reinsurance recoveries and the delivery of excellent customer service to internal and external customers.

• Take full ownership of a portfolio of reinsurances, including the accurate capture of contracts and endorsements on reinsurance systems.
• Administer reinsurance contracts to ensure the Group complies with contractual terms and conditions.
• Play a leading role in the reinsurance team’s month end process, adhering to a strict month end timetable.
• Ensure all applicable claims are CAT coded appropriately and are recovered under relevant reinsurance programme(s).
• Undertake regular cession reviews across your portfolio, assuming accountability for risks correctly ceding to reinsurances.
• Calculate and input to the core transaction system, facultative reinsurance recovery figures and produce and submit to brokers accounting documentation.
• Take full ownership of an agreed set of proportional accounts, producing and submitting to brokers accurately and on time.
• Run the excess of loss recovery system, produce and submit to brokers accounting documentation.
• Analyse movements in net triangles to ensure accuracy and reasonableness and respond promptly to queries from the underwriting teams arising from the net triangles.
• Calculate premium adjustments.
• Work in conjunction with both Ceded Reinsurance Assistant Managers to meet or exceed key performance indicators in relation to the administration of reinsurance.
• Work collaboratively with the rest of the reinsurance technical team to meet and/or exceed key performance indicator performance targets for all Group reinsurance.
• Undertake proactive credit control including liaising with reinsurance brokers and escalating matters where appropriate to the Ceded Reinsurance Operations Manager.
• Respond promptly to reinsurer and broker queries, liaising with claims managers and underwriters where appropriate.
• Assist with the peer review of contracts, endorsements and accounts that have been entered by colleagues.
• Provide pro‑active customer service to underwriting and finance teams.
• Be actively involved in the on‑going development of the Company’s reinsurance administration procedures and systems.
• Deputise for the Reinsurance Manager(s) where required, and ensure Ceded Reinsurance are appropriately represented.
• Undertake any reasonable duties as may be requested by the Reinsurance Operations Manager in the provision of the service.

Skills and Abilities:

• Comfortable working with large volumes of data, with exceptional attention to detail
• Ability to manage time, meet deadlines and prioritise.
• Self‑sufficient, and comfortable working in an agile environment with stakeholders in multiple locations
• Motivational skills, team worker as well as be able to work on own initiative
• Able to communicate effectively with others, both verbally and in writing

Knowledge and Experience

• 10+ years experience of reinsurance administration in the London Market in a technician or senior technician role
• Must be capable of identifying applicable reinsurances
• Ability to calculate recoveries arising under different reinsurance types;

• Facultative
• Proportional treaty, including associated overriders, profit commissions, premium reserves and portfolio transfers
• Excess of loss including the calculation of associated reinstatement and adjustment premiums
• Risk Excess and Event reinsurance programmes

• Outcome focussed, self‑motivated, flexible and enthusiastic
• Aptitude for figure work
• Detail focussed with a desire to get it right first time
• Professional approach to successfully interact with managers, colleagues and external stakeholders

• Speed and quality
• Achievement drive
• Customer focus