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Technical Operations Analyst

  • Location: City of London
  • Salary: £45,000 - £60,000 per year
  • Job Type:Permanent

Posted about 1 month ago

  • Sector: Finance & Audit
  • Contact: Gemma Cardew
  • Contact Email:
  • Contact Phone: 0161 883 2816
  • Expiry Date: 27 February 2024
  • Job Ref: GC/9420

MERJE are partnered with a fast growing Speciality (Re) Insurer in their search for a Technical Operations Analyst to join the team focussing on the management of Premium processing.

This role is an essential part of the Technical Operations Team, and the purpose is to ensure that all premiums are chased, calculated, and recorded in an accurate and timely manner.

 Based full time out of beautiful modern offices in the heart of the city, you will be generously remunerated (£45-60,000 depending upon experience) as well as being eligible for an excellent wider benefits package which includes:

  • 12% Pension (no employee contribution required)

  • up to 30% Bonus (20% on target)

  • £800 annual Health Benefit (for the use of gym memberships etc)

  • Plus much, much more.


Your new role:

Bordereaux Management:

•          Ensure the timeliness, accuracy, and completeness of data entry into the system of record for all the Fidelis Delegated Authority book of business including reviewing bordereau information, following up with brokers for outstanding bordereau (written and paid), and reconciliation of paid to written bordereau.

•          Review and resolve all errors and exceptions identified by the Bordereau Management Tool.

•          Manage all final adjustments and account closing advices checking against premium instalments - with any discrepancies to be brought to the Underwriters’ attention or directly liaising with the broker as appropriate.

•          Reconcile and match Xchanging entries to policy and premium entries booked.

•          Supporting wider credit control function as required.

•          Acquisition costs to be reviewed for differences between expected and received.


Premium Review and Updates:

•          Check and book all premium adjustments received and follow up with broker for overdue adjustments.

•          Check and book all reinstatement premiums and follow up with broker for overdue reinstatement adjustments.

•          Statutory premium reserve reviews and ensure that all reserves that have been retained are released in accordance with the terms and conditions of the policy.

•          Ensure that all Quota Share premium statements are received on time and chase broker for any missing submissions.

•          Ensure that all Aggregate Lineslip premiums are booked in Prequel before the month close.

•          Review policies which contain a No Claims Bonus to identify whether any returns of the NCB are due. Follow up with broker accordingly.

•          Perform annual calculations of the profit commissions according to the policy terms and conditions and ensure that the policies are updated accordingly. Follow up with broker to ensure any return of profit commissions are submitted.

•          All unaccounted premiums should be review and resolved on a monthly basis before each month close.

•          Co-ordinate the quarterly EPI review and ensure that all policies are reviewed and tracked in the EPI Review tool.

•          All Lineslips which contain zero booked premium after the expiry of the Lineslips should be reviewed and followed up with brokers for confirmation of the premium.

•          Review policies which contain a Continuity Commission/bonus to identify whether any returns are due. Follow up with broker accordingly.


Policy Reviews / Premium Status

•          All policies to be reviewed in line with premium slip conditions to ensure that all premiums are accurately booked and all endorsements for expected premium are captured in the system. Any expected premiums not yet recorded to be followed up with brokers.

Compliance Reporting

•          Assisting with the preparation of compliance reports as requested by the Compliance team.

•          Ensure early identification and submission of the Compliance reports to ensure that no late filings of the Statutory reporting.


IPT Returns

•          Responsible for the preparation of the IPT returns which are submitted to the Fiscal Representatives.

•          Ensure that all the checklist items are reviewed and monitored and that the requires levels of data are stored to ensure that audit trails are maintained.

•          Resolve any queries received from the Regulatory Reporting Team or the Fiscal Representatives in a timely manner.

•          Ensure that all IPT returns are submitted before the required deadlines to ensure no late submissions.

•          Complete data quality checks to ensure that the correct IPT rates are being included and that breakdown of detailed data is supplied where required.

•          Ensure that any negative amounts are reported according to the requirements of the relevant country rules.

•          Import agreed paid IPT items into the Credit Control system and work with the Credit Control team to ensure that all items are allocated. 

•          Ensure that all IPT process documentation is kept updated with any process changes.



•          Support the internal and external audit reviews and ensure all requirements are delivered in a timely manner.


Data Quality Initiatives

•          Support the Operations Data Quality Initiatives.



Minimum Qualifications, Skills & Experience

•          A minimum of 3 years experience in an Operations team with a particular focus on Premium Management

•          A practical understanding of Underwriting and policy administration systems;

•          Basic competency in MS Office applications: Word and Adobe Standard required

•          Advanced Outlook and Excel skills

•          Demonstrated ability to master new concepts quickly, and take initiative with own personal development

•          Ability to develop relationships with key stakeholders both internal and externally across the Company

•          Must be able to self-lead and work effectively both independently and with teams;

•          Demonstrated ability to deliver and manage accurate thoughtful detail-oriented work within tight deadlines.