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Outwards Reinsurance Technician

Employer
HFG
Location
London
Salary
£50000 to £60000 per annum
Closing date
16 Aug 2019
Reference
ORI

View more

Sector
Reinsurance
Contract Type
Permanent
Hours
Full Time
Experience/Function
Qualified

Job Details

HFG have partnered with a leading Lloyd's Syndicate to assist with their search for an Outwards Reinsurance Technician, focusing predominantly on their Casualty business. 

Principal Accountabilities:

- Responsible for the accuracy and timely completion (within SLA`s) of key processes including; contract entry, reinsurance premiums and recoveries, advices, brokerage, premium adjustments and profit commissions in-line with the group`s guidelines and procedures
- Peer review of contract details input into the group`s Outwards Reinsurance system and liaise with the Outwards Reinsurance Placement team on any queries relating to setup and operation of contracts
- Review gross claims movements to identify, calculate and process recoveries in-line with respective contract conditions and wordings
- Calculate and process reinsurance premiums, advices, adjustments, brokerage, collections and pro-rata accounts
- Issue statements to brokers / reinsurers and recover and advise sums due
- Monitor and manage quality and accuracy through peer review, exception reporting and DQ Pro breaches (within SLA`s)
- Resolve any queries on advices / collections raised, preventing delays in credit control and collection of monies
- Resolve any queries from a Finance and Actuarial perspective in-line with the group reserving philosophy
- Liaise with the Claims Department, when necessary, to resolve any queries that may have been raised by Reinsurers and request loss reports
- Provide support with liquidations and scheme processes
- Provide support with commutation processes
- Represent Outward Reinsurance Operations team at key meetings, including the Credit Committee and Reinsurance Committee, MLP and with external clients, if required
- Provide information, reporting and triangulations to Outward Reinsurance Placement team to support the purchase of the group`s reinsurance programme

Business Experience:

- Relevant experience in working in an Outwards Reinsurance function within the London Market, specifically Lloyd`s of London
- Proficient in reinsurance recovery procedures from First Advice to Final Settlement, including Credit Control

- Ability to calculate recoveries arising under different reinsurance types;

- Facultative
- Proportional treaty including associated overriders, profit commissions, premium reserves and portfolio transfers
- Excess of loss including the calculation of associated reinstatement and adjustment premiums
- Risk Excess and Event reinsurance programmes
- Good understanding of Marine, Non-Marine and Aviation classes of business
- Capable of identifying applicable reinsurances
- Good understanding of Lloyd`s of London processes

Technical Skills:

- Microsoft Excel (Advanced level)
- Microsoft Office Suite (Intermediate level)
- Global XL Pro Outwards Reinsurance system (Advanced level)
- Eclipse Underwriting system (Intermediate level)

If you feel you meet the above criteria, please apply now. 

Company

HFG is an award winning international recruitment consulting firm that provides specialist professionals to leading General Insurance, Life, Reinsurance, Pensions and Management Consultancy firms. 

Since our formation in 2002 we have sought to provide a market leading recruitment service which challenges the gap between large agencies broad capabilities, and executive search companies’ levels of service.

Regarded by our clients and candidates as industry experts, we deliver solutions to the global insurance marketplace where we specialise in actuarial recruitment.

Led by a number of ex-industry professionals, our consultants have shown a long-term commitment to their defined markets. 

The provision of considered advice based on deep market knowledge is central to our business model. 

You will regularly find HFG at industry events and conferences including GIRO, Life, Momentum, Health, Care & Protection and Joint Risk, Investment & Pensions.

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