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Senior Reinsurance Technician - London Market - XOL

Meraki Talent
London, United Kingdom
Closing date
Dec 9, 2023

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Senior Reinsurance Technician - London Market - XOL

A leading insurance broker is looking to hire an experienced Senior Technician to join their team.

Would you like to work in Reinsurance Broking? Do you have an interest in managing Clients from Lloyds Syndicates? Would you like to mentor staff members within the team and expand your London market experience?

If the answer is yes, this is a great opportunity to advance your career within the company.

The role is also hybrid with two days in the office.

What can you expect:
  • As an Senior Reinsurance Technician, you will be responsible for various activities for the most complex assigned portfolios i.e., processing of all technical transactional disciplines associated with the assigned role, i.e., excess of loss, pro rata or facultative portfolio.
  • Responsible for around three to four assigned client accounts; including reinsurance coverage assessment, processing of premiums and/or loss transactions and associated cash follow up, application and disbursement of funds due.
  • The successful candidate will also be required to provide guidance and training to less experienced colleagues as well as performing leadership and business support as assigned by Team or Department Manager. This a great opportunity to help to mentor and develop some of the less experienced members of the team.

What you will be rewarded with?
  • We offer and embrace a hybrid working model that nurtures a collaborative working environment in the office 2 days per week allowing 3 days per week to be spent working on a remote basis.
  • Competitive Benefits Package including: 27 days annual leave, up to 4 days flexible bank holidays, excellent pension contributions, private medical cover, life assurance, income protection, employee assistance program, plus a range of flexible benefits including the option to buy or sell up to 5 days holiday per year, cycle to work, dental insurance, health assessments plus many more.
  • Generous Family Leave including: 6 months paid maternity leave, 4 months paid paternity leave, 6 months paid adoption leave plus shared parental leave options. To help ease the transition when you return to work you will be able to work 8 weeks at 80% of your normal work pattern and receive 100% of your normal salary.

We will rely on you to:
  • Management of the most complex client base which includes unique lines of business, program structures and reinsurance reporting requirements. Duties to support client base include transactional processing, follow up and securing reinsurance recoveries, collateral and timely and accurate system entry of all assigned client activity.
  • Assess and submit client and/or reinsurer presentation materials and communications to resolve questions and secure reinsurer agreement and payment of claims and account balances.
  • Work with Market Fiduciary to assist with collection of funds.
  • Provide detailed information on accounting/claims process for Request For Proposal (RFP) and sales opportunities.
  • Manage settlement of funds to and from Client in a timely manner in order to ensure all applicable contractual payment terms; warranties and/or conditions are met.
  • Utilise Key Performance Indicators (KPIs) and other system tools to manage all brokerage receivables, funding, retention, e-trading, post booking receipt, ad hoc reporting requests, payment of funds and all management and transactional process steps to provide services in an efficient, effective and regulatory compliant manner.
  • Lead and/or participate in training sessions for CSS Colleagues.
  • Coordinate and attend reinsurance audit/reviews with client and reinsurer. Review open claims and/or premium activity, reconcile records, and facilitate review/audit.
  • Collaborate with peers on complex or contentious reinsurance developments. Support and provide training, mentoring and guidance within the team and/or department for all aspects of reinsurance service processing.

What you need to have:
  • Knowledge of Reinsurance concepts and principles, laws and regulatory requirements (i.e., FCA) and general business trends.
  • Track record of successful Client account management, relationship management, engagement and development.
  • Proficiency in Microsoft Office Applications (Word, Excel, PowerPoint) required.
  • Strong verbal and writing skills for complex communications (presentations, negotiations, etc.) with clients, markets and colleagues at all levels.
  • Demonstrated ability to work as part of a high performance team. Attention to detail in completing assigned tasks.
  • Positive attitude, willingness to offer and execute ideas and solutions to enhance processes within a changing environment.
  • Successful management of workload; able to manage expectations of all Clients and Stakeholders.
  • Able to challenge appropriately, supporting business cases with facts and information.
  • Understanding of project management methodology, stakeholder management, and risk mitigation.
  • Able to engage, influence and negotiate with clients, markets and Colleagues in a professional manner.
  • Consistently deliver superior client service.

What makes you stand out:
  • Demonstrated in depth technical knowledge of the reinsurance industry is essential.
  • London Market experience.
  • Consistently provide guidance by mentoring and/or training colleagues.

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