Ceded Reinsurance Technician

Location London
Discipline: Claims
Job type: Permanent
Contact email: george@weareedenbrook.com
Job ref: J4906
Published: about 3 hours ago
New opportunity with a global specialty insurance and reinsurance company, who are looking for a Reinsurance Technician to join their London office. The successful candidate will support the end-to-end reinsurance operational processes for the company and the third-party syndicates that it manages. This role will support the administration of all operational aspects of reinsurance, proportional & non-proportional business. Key Responsibilities & Accountabilities • Review and sign off ceded contract set up to ensure all terms and conditions are appropriately recorded in the reinsurance system. • Provide premium settlement details to the relevant brokers in a timely manner. • Support the premium settlement process. • Review ceded premium and claim calculations, including accounting classifications, obtaining sign off from team managers. • Support bordereaux reporting and the settlement process. • Calculate profit commission calculations. • Initiate and process cash call recoveries. • Administer sliding scale commissions. • Support the review of M&D premium bookings / accounting classifications. • Assist with ceded recovery calculations, including any associated reinstatement premiums. • Support the calculation of recovery collections including aged debt and be the broker point of contact as required. • Support the calculation of XOL subject premium adjustments. • Support the preparation of Lloyd’s SRS returns and any other associated ceded reinsurance data for regulatory reporting. • Provide ceded data to the actuarial function. • Liaise with the claims department for recovery support and queries as required. • Assist with providing data for reinsurer audits. • Assist with both internal and external audits. • Handover of ceded data to the reinsurance finance team. • Assist with preparing ceded ultimate premium data. • Prepare Ceded Reinsurance Working Group (CRWG) packs and material for other meetings as required. • Assist with maintenance and update of process and procedure documentation. • Any further ad hoc reporting requirements to include supporting any project or system initiatives. What you require for the role • Relevant demonstrable experience in ceded reinsurance • Good user of Excel / Word / PowerPoint • Reinsurance systems experience (SICS Cede helpful) • CII qualification (desirable) • Experience working in both the Lloyd’s and company markets (desirable)