Reinsurance Technician

Your Role:

Due to continued successful growth, we are now hiring for an Outward Reinsurance Technician to join our growing team. This new opportunity will support reinsurance technical accounting and processing procedures, assisting with the production of relevant information for both management information and reinsurance submissions.

What you’ll do:                     

• Record and enter all evidence of covers on the XL Pro system.
• Maintain the system which includes amending contracts where endorsements have been raised and changes are required.
• Provide Brokers with debiting instructions in respect of premium payments for Reinsurance placements.
• Monitor the LORS system. Agree premium and claim entries after checking all details raised are correct. If they are not correct liaise with the broker to get the entries corrected before agreeing. All entries to be agreed or objected to before the default date.
• Production and issuing of all reinsurance recoveries and Quota share statements and bordereaux and consulting with the claims department when any queries are raised after issuing.
• Complete the month end net process on the XL Pro system and deliver the monthly extract to Finance/Actuarial
• Liaison with other teams as required: Operations, Finance, Exposure Management, Claims and Actuarial in order to resolve ad-hoc queries as they emerge.
• Assist in production of high-level Reinsurance MI and reporting.
• Adherence to all aspects of Principles for doing business at Lloyd’s for Reinsurance
• Complete the Lloyd’s SRS return and assist all regulatory, quarterly/annual returns relating to outwards reinsurance.
• Monitoring and recovery of reinsurer aged and bad debt and liaise with brokers accordingly.
• Monitoring of reinsurance security and maintenance of the Approved Security Listing, to ensure compliance with prescribed agency standards.
• Assist in the collation of information for Reinsurance placements.
• To review facultative contract documentation with any comments fed back to the Head of Ceded Reinsurance.

What we are looking for:

• Lloyd’s Reinsurance experience (knowledge of XoL and Quota Share Reinsurances)
• XL Pro System experience/knowledge
• Use of the LORS system
• Knowledge of SRS (Syndicate Reinsurance Structure) return
• Understanding Lloyds Minimum Standards in so far as they relate to Reinsurance.
• Credit Control/Ledger management

What you will get in return:
As well as your salary, this role offers a discretionary bonus plus a broad range of benefits, including Non-Contributory Pension, Private Medical & Travel Insurance.