Outward Reinsurance Technician

  • Location

    City of London

  • Sector:

    General Insurance

  • Job type:

    Permanent

  • Salary:

    £35000.00 - £55000.00 per annum

  • Contact:

    Teri Mortier

  • Contact email:

    tmortier@mbfitzgerald.co.uk

  • Job ref:

    BBBH3778_1655452521

  • Published:

    16 days ago

  • Expiry date:

    2022-07-17

  • Consultant:

    Teri Mortier

Reinsurance Technician

The Role:

The Reinsurance Operations team are responsible for managing all outwards reinsurance protections purchased by the Syndicate This includes capturing all contract details in our systems, paying premiums via our Brokers to our Reinsurers, and making all possible reinsurance recoveries on behalf of the group to ensure we maximise the asset.

We are looking for a Reinsurance Technician to work across many aspects of Syndicate(s) reinsurance contracts and the underlying classes of business. This role will provide technical expertise and analysis to support the performance of the ceded reinsurance function, with quarter-end close being of particular importance.

Responsibilities will include:

  • Setting up reinsurance contracts in Subscribe and Elgar
  • Identifying, calculating and notifying reinsurance recoveries
  • Credit Control activities to ensure quickest possible cashflow to/from reinsurers
  • Responding to technical reinsurance queries from internal and external stakeholders
  • Adhering to all controls and maintaining auditable evidence
  • Processing LORS entries and USM transactions
  • Analysing and providing data to support reinsurance placements and reporting requirements
  • Improving existing manual processes

Skills and Experience required:

  • Experience working in an outwards reinsurance department
  • Good knowledge of Lloyd's and London insurance market
  • Strong MS Excel ability
  • Practical knowledge of London market Underwriting and Reinsurance systems

The role requires a methodical approach to all tasks and appreciation of how each one fits into the overall output of the reinsurance department, as well as the wider business. Understanding the role of the department and its interactions with customers is of significant importance. The individual must be willing to apply logic and understanding to interrogate own and others work ensuring complete accuracy of end result