Reinsurance Operations Manager

Tokio Marine HCC International; Greater London; On-site; GBP 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a Reinsurance Operations Manager to enhance their operations and processes. This pivotal role involves managing post-placement activities, implementing improvements, and leading a skilled team. The ideal candidate will have significant experience in reinsurance, stakeholder management, and a continuous improvement mindset. Join a dynamic organization that values innovation and collaboration, and be part of a team dedicated to delivering exceptional service and driving efficiencies within the reinsurance sector.

Qualifications

• Extensive knowledge of reinsurance market intricacies and placement structures.
• Experience in managing teams and delivering exceptional service.

Responsibilities

• Support senior leadership in servicing the reinsurance portfolio.
• Manage stakeholder relationships and improve claim recovery efficiencies.

Skills

Reinsurance Knowledge

Stakeholder Management

Process Improvement

Financial Analysis

Microsoft Excel

Microsoft PowerPoint

Education

Bachelor's Degree in Finance or Insurance

Tools

Shared Service Model

Job description

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Job Title: Reinsurance Operations Manager

Reporting to: Head of Reinsurance Operations

Position Type: Permanent

Overview

Why Tokio Marine HCC?

Standing still is not an option in the current world of Insurance. TMHCC are one of the world’s leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.

The Reinsurance Operations function is responsible for the management and administration of the TMHCC International outwards reinsurance program. Internally, we engage with the Reinsurance Placement function and with Line of Business Underwriting teams to understand and execute the reinsurance policies and programs purchased. We use our collective knowledge, experience, and expertise to deliver value add service and proactive support for the outwards reinsurance portfolio. Collaborative engagement with our Finance and Claims teams, as well as our reinsurance broking partners enables successful end-to-end delivery of our contractual and reporting obligations.

Job Purpose

We are seeking an experienced Reinsurance Operations Manager. This role will be the key support to the Head of Reinsurance Operations. This person must have a strong background in Reinsurance, delivering exceptional service to stakeholders through own and team interactions and demonstrable experience of building and managing teams.

With substantial industry experience, this person will be instrumental in managing the operations, processes and controls of our post placement activities. The role will also require a continuous improvement mindset. Working closely with our Finance team, we will implement improved processes and procedures as we strive to continuously improve through process efficiency, automation and use of our Shared Service model.

This role will be instrumental in developing the requirements for a replacement reinsurance system and will be involved at all stages that a project of this magnitude entails.

The role will require someone who is comfortable managing change, building and improving processes, inspiring and leading a team of professionals, managing multiple priorities, and working closely with the placement and underwriting teams to support reinsurance purchase.

Performance Objectives

• Ensure premium payment performance is monitored and reviewed monthly.
• Improve Claim recovery efficiencies between the claims and reinsurance teams through building relations and analysing processes and procedures.
• Provide qualitative metrics on team performance with appropriate commentary monthly.
• Ensure adherence to all internal controls as mandated in the Control Framework.
• Review and improve/create process documents across all facets of the department.
• Manage and drive performance against internal & external audit requirements.
  
  

Key Responsibilities

Service Management

• Support TMHCC Senior Leadership in the servicing of the reinsurance portfolio.
• Support the Head of Reinsurance in the following areas:
• Managing stakeholder relationships including Cat modelling, Actuarial & Exposure management
• Support the department in increasing efficiencies in claim recoveries
• Providing support to Finance Teams to ensure accurate financials
• Providing support and guidance on technical and non-technical issues
• Exploring opportunities to improve the Reinsurance Recoverable process to accelerate collections.
• Adoption of Shared Service model and relationship owner to manage the service provided
  

Change Management

• Ensure all process and procedures are rigorously followed and maintained.
• Cultivate a culture of continuous process improvement and lead change in a structured manner.
• Active participation in Outward Reinsurance Target Operating Model discussions including the definition of business scenarios to support identification of enabling technology
  
  

Essential

Skills and Experience Specification:

• Demonstrable knowledge of the insurance market and a high level of experience of the intricacies of the reinsurance market, including placement structures, complex collections and servicing.
• Senior level experience gained in either a major market Reinsurance Broker, major Insurer or Reinsurer
• Demonstrable technical knowledge of reinsurance programmes
• Demonstrable experience working with, and developing, a shared service support model
• Excellent stakeholder management skills, with credibility at senior management level, navigating complex relationships across an organisation.
• Understanding and proven management of financial budgeting, forecasting & analysis.
• Person who is willing to challenge assumptions and the status-quo.
• Experience in promoting and executing a culture of process improvement and creating efficiencies.
• Excellent Microsoft skills, specifically, MS Excel and Power-Point.
  
  

Soft Skills

• Professional approach and delivery of work product.
• Energy, enthusiasm, persistence and adaptability.
• Excellent communicator at all levels with strong stakeholder engagement and a proven ability to influence
• Expert at building relationships with multiple stakeholders within the organisation.
• Demonstrable experience of working in fast paced matrix management organisations with complex stakeholder models.
• Assertive but sensitive to conflicting demands on others.
• Must have the credibility to provide respectful challenge, quality assurance and support to SMEs and sponsors.
• Focus on timely delivery of quality outputs.
• Strong advocate of collaborative working.
• Highly proficient in written and visual communication targeted to different audiences.
  
  

What We Offer

The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals. The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies.

The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Management

• Industries

  Insurance

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