Reinsurance Technician

Description:

We have a great opportunity has arisen for a Reinsurance professional, with Lloyd’s market reinsurance experience, to lead day-to-day post-placement reinsurance operations.

We are looking for

· Sound technical knowledge and broad practical experience of post-placement reinsurance operations

· Familiarity with reinsurance structures and a team player

· Experience of reinsurance processing within policy administration systems

Key Responsibilities

· The administration of all outward reinsurance matters, including full close process

· Maintain Reinsurance procedure documentation

· Compliance with market practice, including Lloyd’s Key Principles and submission of returns

· Communicating with all stakeholders, internal as well as external, including reinsurers and brokers

· The calculation and booking of premium adjustments and reinsurance recoveries

· Support reinsurance placement as appropriate

· Review the relevant documentation including placing slips, cover notes and contract wordings and identify and raise any matters, together with proposed solutions

· Complete Reinsurance risk and control procedures and document supporting evidence

· Produce monthly meeting Reinsurance packs

· Be a member of and / or attend internal committees

· Monitor and update rating records of all reinsurers and their cumulative concentration exposures

· Maintain reinsurance resumes

· Assist the finance function to assess actual vs budget/forecast spend

· Processing reinsurance LORS entries and subsequent cash allocation against the ledger

· Perform reinsurance credit control, ensuring that both outwards payments and inward recoveries are settled within agreed terms