Senior Reinsurance Technician

Next Employment Ltd; Greater London; On-site; GBP 40,000 - 45,000; Full time

Job summary

A leading company in the insurance sector is seeking a Senior Reinsurance Operations Technician in London. This role involves providing operational support to the Underwriting Services Team, ensuring high-quality service delivery, and managing various operational functions. The ideal candidate will have extensive experience in the (re)insurance industry and strong analytical skills. Join a dynamic team dedicated to continuous improvement and excellence in service.

Qualifications

• Minimum 5 years’ experience in (re)insurance industry.
• Thorough understanding of (re)insurance terminology.
• Working knowledge of key (re)insurance policy administration systems.

Responsibilities

• Oversight of offshore team activities and policy set-up matters.
• Ensure accurate handling of policy set-up and accounting.
• Assist with training new team members when required.

Skills

Analytical skills

Problem-solving

Communication

Organizational skills

Flexibility

Education

Professional insurance qualification

Tools

Microsoft Office 365

SICS

Job description

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This range is provided by Next Employment Ltd. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Base pay range

Direct message the job poster from Next Employment Ltd

Managing Consultant - London Market Insurance at NEXT EMPLOYMENT LIMITED

Seeking to appoint a Senior Reinsurance Operations Technician. The role will be part of the wider Underwriting Services Team, providing operational and technical support to the Underwriting, Finance and Offshore teams, ensuring the timely and accurate delivery of a high-quality service. Your responsibilities will include taking ownership of operational functions, completing core operations tasks accurately, and supporting the achievement of internal Service Level Agreements.

The role is based in our London office and will report directly to the Business Process Service Manager.

Key Responsibilities

The role involves (but is not limited to) the following responsibilities:

• Oversight of offshore team activities and act as Subject Matter Expert and primary contact for all policy set-up matters, addressing queries and escalating issues where necessary.
• Provide technical insight and advice to our Finance, Underwriting and Offshore teams, particularly around policy set-up.
• Liaise and follow up with Underwriters to ensure timely submission of deals via Workbench.
• Ensure accurate handling of policy set-up and accounting for, but not limited to Contingent Commissions, Sliding Scale Commissions, Reinstatement premiums, Premium Adjustments, Profit commissions and Loss corridors calculations.
• Assist in the entering of risk and policy data into the relevant PAS system, with the focus on data quality.
• Review of contract amendments and ensure they are updated into the relevant PAS accurately.
• Run monthly control reports on policy data to ensure data quality. Liaise with the Offshore team to rectify any errors/omissions.
• Ensure all tasks are completed for month-end close e.g. uploading of premium estimates and Loss ratios, commission calculations and other Finance related tasks as required.
• Outwards RI Contract Management - ensuring outwards reinsurance contracts are always set up in an accurate and timely manner.
• Undertake SOX peer reviews and quality assurance checks within defined Service Level Agreements.
• Support the Underwriting and Finance teams in delivering a high-quality service.
• Continually seek to improve processes and suggest improvements to ensure smooth departmental operations.
• Update Standard Operating Procedures as and when required.
• Carry out ad hoc tasks that may arise from time to time as specified by the line manager.
• Assist with training new team members when required.
• Build and maintain strong working relationships with Finance and Underwriting teams, keeping them regularly updated on relevant issues.
• Support projects and testing as required and promote adherence to best practices.

Candidate Profile

General Requirements

• Minimum 5 years’ experience within the (re)insurance industry, ideally within an underwriting support or operations function.
• Thorough understanding of (re)insurance terminology and concepts, with an in-depth knowledge and understanding of policy wordings.
• Knowledge of underwriting processes and procedures.
• Working knowledge of key (re)insurance policy administration systems – ideally SICS.
• Some experience with Sarbannes-Oxley Financial Controls Disclosure Requirements.
• Excellent numerical and analytical skills, with an eye for detail.
• Innovative mindset with a passion for problem-solving and continuous improvement.
• Self-starter, able to manage and prioritise your workload and adapt to changing priorities with a proactive approach.
• Excellent oral communication, written communication, and organisational skills with the ability to engage internal stakeholders.
• Candidate must be flexible; team-oriented and have strong administrative skills that include ability to prioritise and multi-task.
• Ability to think independently and work collaboratively as part of the Underwriting Services function.
• Proficient in Microsoft Office 365 (Excel, Outlook, PowerPoint, SharePoint, Word).
• Professional insurance qualification preferred, ideally CII.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Other

• Industries

  Insurance

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