Reinsurance Technician

Job Locations UK-Swansea
Job Post Information* : Posted Date 1 month ago(22/09/2021 17:17)
Job ID
2021-1036
# of Openings
1
Category
Accounting/Finance

Overview

Do you have experience Reinsurance experience? 

 

 

Our Reinsurance Technicians ae part of the Reinsurance Team which sits in our Finance Operations Function in ERS. Our Reinsurance Technicians primary responsibility is to support the Senior Reinsurance Technician in executing the reinsurance strategy, renewal of the reinsurance placement and recovery of reinsurance claims. The role is visible in the market, involving engagement with our reinsurance broker, current reinsurer panel and prospective reinsurers when communicating strategy, business profile and claims updates.

 

The location for this role is our Swansea office, we are currently trialling a mix of office and home working patterns at IQUW Group. During the selection process we will discuss indicative home / office patterns for this role.

 

Reporting to the Senior Reinsurance Technician your main responsibilities in the role will be to:

  • Support the Senior Reinsurance Technician in the placement of reinsurance requirements, delivering detailed MI on underwriting profiles and claims development data. Strong communication with internal stakeholders (Underwriting, Claims, Finance and Actuarial) to ensure all information and messaging is captured and validated
  • Manage reporting, recovery and credit control against all reinsurance asset (Quota Share, XOL, ADC) ensuring service levels and reporting aligns to agreement criteria. Ensure all reinsurance premiums are settled in line with the contracts
  • Maintain ICE Claims, LORS, Xchanging, reinsurance and overseas databases for all related RI / claim processing
  • Manage the financial month/quarter/annual reinsurance returns
  • Ensure the syndicate meets all internal and regulatory reinsurance reporting requirements such as RDS, RDL, SRS, LFB, 710 returns submitted through Lloyd’s CMR where relevant including analysis of event modelling output.
  • Manage reinsurer exposure to ensure we meet appetite requirements. In addition, assess, validate and report potential bad debt in respect of liquidated, poorly rated and commuted reinsurers
  • Support the Reinsurance Manager in the renewal of the ERS’ Corporate Insurance placement requirements (Combined, Cyber, E&O/D&O and Financial Crime)
  • Provide support in the handling and administration of all overseas legacy business, maintaining reserves, liaising with TPAs / solicitors and making settlements as necessary

 

We’d like to hear from you, if you:

  • Have a good knowledge of reinsurance principles and an understanding of the marketplace
  • Have a detailed knowledge of reinsurance purchasing needs, the structure of reinsurance programmes and associated agreements
  • Can demonstrate gravitas and clarity of purpose which will give confidence to senior stakeholders, both internally and externally
  • Are a great communicator and can build and maintain value adding relationships
  • Have good knowledge of the legal, regulatory and compliance provisions that apply to the UK motor insurance market
  • Poses excellent analytical and Microsoft product skills (Excel, Word and Access).

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