Reinsurance Technician

Edenbrook; Greater London; On-site; GBP 25,000 - 35,000; Full time

Job summary

Edenbrook in London seeks an XOL Administrative Support to assist the reinsurance team with daily and monthly processing tasks, calculations, reconciliations, and reporting.

You will build productive relationships with Brokers, Reinsurers, Cedents, and internal partners, review SCM movements, event coding, and ensure accurate data and timely debtor recovery.

Qualifications

• Responsibilities include basic to moderately difficult calculations, reconciliations, and reporting.
• Identifies and investigates out-of-balance transactions.
• Maintains and resolves reinsurance balances and correspondence.

Responsibilities

• Leverages technical skills to perform basic reporting and financial transactions in line with reinsurance practices.
• Develops relationships with Brokers, Reinsurers, Cedents, Legal, Accounting, Actuarial, and Underwriting teams.
• Daily review and administration of SCM movements.
• Work with Claim Ops to ensure accurate Event Coding.
• Perform Outwards Reinsurance data collection, premium processing, and recovery documentation.
• Review and update Reinsurance policy documentation as needed.
• Participate in process improvements and maintain workflow documentation.
• Identify risks related to reinsurance activities.
• Review monthly claim bordereaux and calculate Syndicate loss numbers.
• Maintain static claim register and provide updates to RI/Broker.

Skills

Reinsurance processing

Data entry

Financial reporting

Communication

Job description

XOL Administrative Support: Provide administrative support to the reinsurance team, including maintaining daily / monthly processing tasks such as:

• Performs basic to moderately difficult calculations, accountings, reconciliations, and reporting. Identifies and investigates out-of-balance transactions. Actively manages the resolution of basic correspondence and assigned reinsurance balances.
• Leverages proficiency in technical/functional skills to execute all basic reporting, collection, correspondence, and financial transactions appropriately with consistent adherence to reinsurance practices and protocols.
• Develops and maintains productive working relationships with both internal and external partners including Brokers, Reinsurers, Cedents, Legal, Accounting, Actuarial, Direct Claims, Underwriting, Operations, vendors and/or IT, in order to achieve the most favorable outcomes.
• Daily review and administration of SCM movements
• Work with Claim Ops to ensure accurate Event Coding
• Perform Outwards Reinsurance data collection, premium payment processing, claim notifications, and recovery documentation.
• Responsible for inventory of reinsurance treaties and document reinsurance conditions. Review Reinsurance slips, premium allocations, and cover notes issued by brokers and reinsurers.
• Update Outwards Reinsurance Policy documentation as needed.
• Participates in process improvement initiatives as part of a team. Maintains workflow and reference documentation.
• Identify potential risks related to reinsurance activities.
• Review and analysis of monthly claim bordereaux
• Calculate and issue Syndicate loss numbers for any shared loss.
• Maintain static claim register – provide periodic updates to RI / Broker
• Review monthly reports to identify any potential new recoverable losses.
• Review the minor currency losses that fall below the SCM thresholds.
• Maintain Credit Control files to assist with Management Reporting and improve timeliness of debtor recovery.
• Perform credit control on outwards RI collections.