Senior Reinsurance Technician

ACINRecruit; Greater London; Ibrido; GBP 65.000 - 80.000; Tempo pieno

Vantaggi offerti da questo lavoro

Health coverage

Descrizione del lavoro

acinrecruit is seeking an experienced Senior Reinsurance Technician to lead outwards reinsurance administration, accounting and reporting from London with a hybrid working arrangement. The role covers ceded reinsurance activities, recoveries, and data quality improvements across the reinsurance subledger.

You will support monthly close, regulatory returns and reporting for committees, while ensuring accuracy, timely processing and adherence to treaty terms.

Competenze

• Minimum of five years’ experience in outwards reinsurance administration and operations.
• Experience using XL Pro or another outwards reinsurance administration system.
• Excellent attention to detail and commitment to accurate, timely processing and reporting.
• Proficiency with Microsoft Office applications.
• Ability to manage competing priorities and meet deadlines.
• Curiosity and a mindset to identify more efficient ways of working.
• Flexibility as systems and requirements evolve.

Mansioni

• Administer ceded reinsurance transactions including premiums, adjustments, commissions, recoveries and broker rebates.
• Own the outwards reinsurance subledger with accurate contract data and accounting records.
• Ensure contract terms are applied correctly and deadlines met.
• Prepare recoveries, collect balances and manage credit control reports.
• Reconcile reinsurance statements with finance and cash allocations.
• Calculate cash losses, profit commissions and portfolio transfers.
• Monitor excess of loss recoveries and issue loss notifications as needed.
• Track rebates and coordinate with stakeholders for timely collection.
• Support monthly/quarterly close, regulatory returns and collateral monitoring.
• Produce reports on exposures, spend, brokerage and counterparty balances.
• Collaborate with actuarial on reserves and reporting consistency.
• Assist with reinsurer security reviews and due diligence for commutations.
• Prepare management information for committees and boards.
• Suggest and test improvements to processes and automated reports.
• Maintain checklists and support market settlement activities.

Conoscenze

XL Pro

Microsoft Office

Attention to detail

Prioritisation

Adaptability

Data mindset

Strumenti

XL Pro

Descrizione del lavoro

Job Title: Senior Reinsurance Technician

Location: London / Hybrid

Salary Range: £65,000 - £80,000

Reporting to: Reinsurance Operations Manager

Overview

An opportunity for an experienced Senior Reinsurance Technician to take ownership of outwards reinsurance administration, accounting and reporting within a specialist insurance business.

The role covers a broad range of ceded reinsurance activities, including premium adjustments, commissions, recoveries, settlements and counterparty balances. Alongside responsibility for the reinsurance subledger, you will support financial reporting, manage outstanding recoveries and help improve systems, processes and data quality.

Key Responsibilities

• Administer ceded reinsurance transactions, including premiums, premium adjustments, profit commissions, recoveries and broker rebates.
• Take ownership of the outwards reinsurance subledger, maintaining accurate contract reference data, accounting records and credit control balances.
• Manage contract administration, applying treaty terms and conditions accurately to transactions and ensuring contractual deadlines are met.
• Prepare recovery billings, collect outstanding balances and maintain credit control and aged debt reports.
• Reconcile and agree reinsurance statements, working closely with finance colleagues on cash allocation and account reconciliation.
• Calculate and review cash losses, profit commissions, portfolio transfers and reinstatement premiums.
• Monitor excess of loss recoveries, including applicable indexation provisions, and issue loss notifications arising from reserve estimates or market events.
• Track reinsurance rebates and liaise with relevant stakeholders to ensure timely collection.
• Support monthly and quarterly close processes, including regulatory returns, quota share statements, premium adjustments and collateral monitoring.
• Produce accurate reporting on exposures, premium spend, brokerage, burning costs, variances and counterparty balances.
• Work with actuarial colleagues to review quarterly reserves by programme and maintain consistency across reporting
• Support reinsurer security reviews, respond to counterparty queries and prepare analysis for potential commutations.
• Prepare management information and supporting materials for committees, boards and other stakeholders.
• Improve processes, system use and data integrity, including specifying and testing automated reports.
• Maintain process checklists, support audits and provide cover for market settlement activities where required.

What We're Looking For

• At least five years’ experience in outwards reinsurance administration and operational practices.
• Experience using XL Pro or another outwards reinsurance administration system.
• Strong attention to detail and a commitment to accurate, timely processing and reporting.
• Confidence working with data and proficiency in Microsoft Office applications.
• The ability to manage competing priorities and meet reporting and contractual deadlines.
• A questioning mindset, with an interest in identifying more effective ways of working.
• Flexibility and adaptability as systems, processes and business requirements evolve.

Desirable but Not Essential

• Experience preparing and submitting Lloyd’s regulatory returns, including SRS and QMA reporting.
• Relevant CII qualifications, including the London Market Insurance qualification.
• Experience in credit control, aged debt management and reinsurance recovery collection.
• A good understanding of reinsurance contract terminology and the ability to interpret and apply contractual conditions.
• Experience across Lloyd’s, company or collateralised reinsurance markets.
• Familiarity with LORS and market settlement processes.
• The ability to resolve issues independently and manage smaller projects or improvement initiatives through to completion.

About the Company

A specialist insurance business operating within the Lloyd’s market, with a focus on effective reinsurance management, accurate reporting and robust financial controls. The business is continuing to develop its operational processes and systems, offering the opportunity to contribute to improvements across reinsurance administration and reporting.