Senior Reinsurance Technician

Chaucer Underwriting Services Limited; Greater London; Sur place; GBP 75 000 - 110 000; Plein temps

Résumé du poste

Chaucer Underwriting Services Limited in London seeks a senior technical administrator to oversee outwards reinsurance for Lloyd’s Syndicate 1084 and Chaucer Insurance. You will administer complex contracts, support reporting, and collaborate with internal teams, brokers, reinsurers and auditors.

Key duties include calculating premiums and adjustments, managing recoveries, ensuring month-end close, producing bordereaux and MI, and coaching technicians to raise technical capability across the

Qualifications

• Substantial outwards reinsurance operations experience.
• Expertise in Lloyd’s market operations and contract administration.
• Ability to interpret complex reinsurance contracts and resolve issues.

Responsabilités

• Administer complex outwards reinsurance contracts across excess of loss, proportional and facultative accounts.
• Calculate, issue and monitor reinsurance collection notes per terms.
• Complete premium adjustments, profit commission, NCB and other calculations.
• Manage collection and payment of recoveries and premium; address aged debt.
• Ensure month-end/quarter-end close, Lloyd’s reporting, audits and controls.

Connaissances

Reinsurance operations

Lloyd’s market rules

Contract administration

Excel proficiency

Attention to detail

Cross-team collaboration

Formation

GCSE English & Maths

3 A-Levels

CII qualification (Desirable)

Outils

XL Pro

MS Office

LORS

Description du poste

Job Profile Summary

The main purpose of this role is to provide senior-level technical administration and oversight of outwards reinsurance activities for Chaucer Lloyd’s Syndicate 1084 and Chaucer Insurance Company DAC . The role administers complex reinsurance contracts and recovery activity, supports accurate and timely reporting, works closely with internal teams, brokers, reinsurers and auditors, and helps develop the technical capability of allocated technicians across the wider outwards reinsurance function.

Job Description

• Administer complex outwards reinsurance contracts across excess of loss, proportional and facultative accounts, applying a comprehensive understanding of treaty terms and Lloyd’s market operations
• Calculate, issue and monitor reinsurance collection notes in accordance with contract terms and conditions
• Complete premium adjustments, profit commission, NCB and other complex technical calculations accurately
• Manage the collection and payment of recoveries and premium, proactively manage aged debt, and resolve technical or operational issues
• Ensure compliance with month-end and quarter-end close deadlines, Lloyd’s reporting requirements, audit standards and internal controls
• Produce and review risk and claim bordereaux, renewal presentation information, financial summaries and management information for internal stakeholders
• Respond clearly and professionally to queries from internal teams, brokers, reinsurers and auditors in a timely manner
• Maintain accurate policy, claims, accounting and cover-note records in XL Pro and in house systems
• Review tasks completed by the outsourcing partner and provide appropriate technical challenge and feedback
• Prioritise and allocate workloads for allocated technicians, coach them to develop their technical understanding and capability, and support delivery against team deadlines
• Apply a good understanding of upstream and downstream functions and collaborate across departments to support effective end-to-end reinsurance operations
• Contribute to reinsurance function IT and business projects, including testing, implementation and process improvement activity
• Maintain awareness of reinsurance market trends and evolving regulatory requirements as they affect coverage administration and operations
• Undertake other duties as assigned

Regulatory Responsibilities

• Manage the relationships with Customers, Agents and Service Providers: Foster positive relationships with Customers and attain an understanding of their needs
• Ensure that the principles of Treating Customers Fairly are upheld by Agents and Service Providers.
• Ensure that Customer Complaints are promptly identified, recorded and referred as appropriate; and, Advise, assist and service customers on insurance and risk matters to promote customers’ satisfaction

Skills and Competencies

Essential:

• Substantial outwards reinsurance operations experience, including excess of loss, proportional and facultative business
• In-depth knowledge of reinsurance practices, contract administration and Lloyd’s market operations
• Experience interpreting and administering complex reinsurance contracts and resolving technical account issues
• Knowledge of Lloyd’s reporting requirements as they relate to outwards reinsurance
• Advanced Excel capability and strong proficiency in Microsoft Office
• Excellent attention to detail, analytical ability and accurate record-keeping
• Professional written and verbal communication skills, with the ability to work effectively across teams and with external stakeholders
• Strong workload prioritisation, time management, problem-solving and process improvement skills
• Ability to coach technicians, allocate work appropriately, adapt to change, use initiative and maintain confidentiality and high professional standards

Desirable:

• Experience using XL Pro for reinsurance administration, data analysis and reporting
• Previous involvement in a reinsurance platform implementation or wider reinsurance IT/business project
• Experience with LORS and related Lloyd’s market processes
• Experience overseeing, allocating or reviewing the work of other technicians

Education

Essential:

• GCSE English and Maths grade C or above (or equivalent)
• 3 ‘A’ Levels (or equivalent)

Desirable:

• Lloyd’s Introductory Test CII Qualification

ABOUT US

Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups. Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website. Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation). A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture. We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and one which ensures we select the right person for the job, based on merit. We are committed to promoting a culture that actively values difference, and recognises that everyone has the right to be treated with dignity and respect throughout their employment. We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process. Chaucer are a leading specialty (re)insurance group working with brokers, coverholders and clients to protect and support business activities around the world. Our services are accessed both through Lloyd’s of London and the company markets. We are defined by an enterprising, bespoke approach to (re)insurance, enabled by the individual character, experience and imagination of our expert teams. Chaucer is a member of the China Re Group and backed by their financial and operational resources. China Re is one of the world’s largest reinsurance companies whose outstanding and comprehensive strength is rated A (excellent) by AM Best and A (strong) by S&P Global Rating. Chaucergroup.com