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Reinsurance Technician

  • Location: London
  • Salary: £55,000 - £80,000 per year
  • Job Type:Contract

Posted 12 days ago

  • Sector: Finance & Audit
  • Contact: Gemma Cardew
  • Contact Email: gcardew@merje.com
  • Contact Phone: 0161 883 2816
  • Expiry Date: 30 July 2024
  • Job Ref: GC/11866

** This role can be offered on a FTC (or) day rate Inside IR35 **

** 12 month interim contract **

** 5 days office **

MERJE are partnered with a successful and fast growing Specialty Insurer based in the City.

We are looking to engage a talented Reinsurance Technician to join a Ceded Reinsurance Operations team, reporting to the Ceded Reinsurance Technical Operations Manager. 

In this role you will support the Ceded Reinsurance Technical Operations Manager in delivering timely and accurate post-placement administration of the Group's Ceded reinsurance program.

You will  possess a good level of systems and data knowledge and a strong understanding of technical Ceded RI concepts, allowing you to proactively contribute to both the day-to-day running of the Ceded RI program and Ceded RI project activity.

Duties & Responsibilities

  • 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.

Minimum Qualifications, 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 organisational 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.

Applicants must be located and eligible to work in the UK without sponsorship. Please note, should feedback not be received within 28 days, unfortunately your application has been unsuccessful. In applying for this role, you may be registered on our database so we can contact you about suitable opportunities in future. Your data will be managed in accordance with our Privacy Policy, which can be found on our website. If you would like this job advertisement in an alternative format, please contact MERJE directly.