Ceded Reinsurance Technician

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Job description

About us

Avencia Consulting are recruiting on behalf of a leading Specialty Reinsurer based in the City, who are looking to hire a Ceded Reinsurance Technician to join on a 12 month contract 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 Ceded Reinsurance Technician's role is to support the Ceded Reinsurance Technical Operations Manager in delivering timely and accurate post-placement administration of the 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
• Provide pro-active customer service to operations, underwriting, actuarial 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
• Contribute 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 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 3 years' experience in a similar role.
• A good 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.

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