Senior Ceded Reinsurance Technician

About us

Avencia Consulting are partnered with a leading Bespoke & Speciality Reinsurer based in the City who are hiring for a Senior Ceded Reinsurance Technician on a permanent basis.

The role

This role will be an essential part of the Ceded Reinsurance Operations team, reporting to the Ceded Reinsurance Technical Operations Manager. The Senior Ceded Reinsurance Technician's role is to support the Ceded Reinsurance Technical Operations Manager in delivering timely and accurate post-placement administration of the group's Ceded reinsurance program.

The incumbent is expected to possess a good level of systems and data knowledge and a strong understanding of technical Ceded RI concepts, allowing them to proactively contribute to both the day-to-day running of the Ceded RI program and Ceded RI project activity.

Key accountabilities

• Administer reinsurance contracts to ensure the Group complies with all contractual obligations, to include the calculation and processing of M&D premiums, premium adjustments, quota share statements and bordereaux, profit commissions and NCB's
• Ensuring all ceded reinsurance contracts are accurately recorded in the policy admin system
• Administer payment requests and credit control recoveries balances
• Calculate and process facultative and excess of loss reinsurance recoveries
• Assist with the peer review of certain tasks carried out by colleagues
• Assist with training new and current team members when required
• Provide pro-active customer service to operations, underwriting, actuarial, IT and finance teams.
• Respond promptly to reinsurer and broker queries
• Be actively involved in the on-going development of the Company's reinsurance administration procedures and systems
• Leading contribution to the Ceded RI workstream of the Business Transformation project
• Assist in the production of programme summaries and schematics
• Assist in the preparation of various information to aid the analysis and placement of reinsurance programmes
• Undertake SOX peer reviews and quality assurance checks within defined Service Level Agreements
• Ensure all tasks are completed for month/quarter close e.g month end exception reporting and other Finance related tasks as required
• Act as SME and primary contact for the Ceded Re Operations teams obligations and ensure other technicians in the team are meeting expected standards and deadlines
• Support and lead projects to include but not limited to Phase 4 of the Ceded Re transformation project, internal and external audits, testing as required and promote adherence to best practices
• Ensure monthly internal and Insurance Group SLA/KPIs are met
• Undertake any reasonable duties as may be requested by the Ceded Reinsurance Technical Operations Manager.

Skills & experience

• University degree, preferably in a numerate field (finance, statistics, economics, mathematics, etc.)
• At least 5 years' experience in a similar role.
• Combined Company and Lloyds background beneficial
• An excellent level of insurance and reinsurance knowledge required.
• Strong knowledge of the Microsoft Suite of applications with Excel skills such as iterative formulae (nested ifs), multi-criteria lookups (index, match), sumifs and pivot tables. Power query/VBA/SQL experience a plus, but not required.
• Strong analytical and organizational skills.
• Ability to work effectively as part of the Ceded Reinsurance Team as well as with other key stakeholders across different functions within the organization.
• Ability to work under pressure and handle a varied, fluctuating workload.