Senior Ceded Re Technician

TN United Kingdom; London; On-site; GBP 40,000 - 80,000; Full time

Job summary

An established industry player is seeking a skilled professional to manage reinsurance processes within a dynamic team. This role involves overseeing all aspects of reinsurance, supporting premium adjustments, and engaging in audits and disputes. The ideal candidate will possess a strong understanding of both marine and non-marine classes of business, along with the ability to analyze data for reporting. With a commitment to diversity and inclusion, this forward-thinking company offers a supportive environment that values innovation and resilience. Join a team that prioritizes your career development and well-being while making a meaningful impact in the industry.

Benefits

Non-contributory pension

Private medical care

Life assurance

Wellbeing benefits

Work-life balance support

Qualifications

• Experience in London Market Reinsurance processing, ideally with a Lloyds Syndicate.
• Ability to support and instruct team members in RI processes.

Responsibilities

• Manage all aspects of reinsurance purchased by the Syndicate.
• Authorize claim and premium transactions accurately.
• Support in premium adjustments and profit commissions calculations.

Skills

Ceded Re RI recoveries

Teaching and instructing

Data analytics

Problem-solving

London Market Reinsurance processing

Job description

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• Deal with all aspects of reinsurance purchased by the Syndicate.
• Assist in the quarterly Reinsurance close as per the Syndicate’s Procedures Manual.
• Attend RI/ Claims/ Underwriting and broker meetings/discussions as required.
• Authorize claim and premium transactions on LORS and accurately allocate the resulting USM cash entry within the RI System.
• Develop a good working knowledge of the Syndicate’s Reinsurance system.
• Collate recovery statistics when requested.
• Support in the calculation and advice of premium adjustments.
• Support in the calculation and advice of profit commissions due.
• Keep written records of all substantive conversations with brokers etc.; both internal and external, in accordance with the firm’s procedures manual.
• Take a pro-active role in any reinsurance disputes that might arise.
• Collate information for audits (both internal & external) as and when required.

Knowledge and Skills

• Ability to fully support Ceded Re RI recoveries manager in all aspects of the Syndicate’s RI processes.
• Ability to teach/ instruct less senior members of the Ceded Re Team.
• Working knowledge of all Non-marine & Marine classes of business.
• Working knowledge of all Non-proportional, Proportional and Facultative Reinsurance processing.
• Basic understanding of all related Syndicate disciplines.
• The ability to work independently and resolve complex problems with little guidance.
• London Market outwards Reinsurance processing experience (both marine and non-marine) preferably gained working for a Lloyds Syndicate or London Market Company.
• A good level of data analytics experience for internal and external reporting.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

Diversity, Equity & Inclusion

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

Your career with us

At Munich Re Specialty – Global Markets, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more!

Working together, we are an employer of choice by building the workforce for today and the future. We make it happen. Together.