Senior Reinsurance Technician

Chubb; London; On-site; GBP 40,000 - 60,000; Full time

Job summary

Join a dynamic team at a leading insurance firm as a Senior Reinsurance Technician. In this pivotal role, you will manage complex reinsurance accounts, providing analytical support and leading contract management efforts. This position allows you to innovate processes and enhance operational efficiencies, directly impacting the company's success in the reinsurance sector. You will collaborate with various internal and external stakeholders, ensuring compliance and fostering strong relationships. If you're passionate about reinsurance and looking to make a significant contribution in a collaborative environment, this opportunity is for you.

Qualifications

• Strong analytical skills and experience in reinsurance management.
• Ability to mentor junior staff and engage with stakeholders effectively.

Responsibilities

• Manage reinsurance contracts and oversee premium settlements.
• Provide analytical support and mentor junior team members.

Skills

Analytical Skills

Reinsurance Knowledge

Financial Management

Stakeholder Engagement

Process Optimization

Mentoring

Education

Bachelor's Degree in Finance or related field

Professional qualifications in insurance or reinsurance

Tools

CEG system

Microsoft Office Suite

Job description

Join our dynamic Retail Reinsurance Technical Services team at Chubb, where you will play a pivotal role in managing complex reinsurance accounts across our European offices. As a Senior Reinsurance Technician, you will provide critical analytical support to the Head of Retail Reinsurance Technical Services, guide your colleagues through intricate tasks, and contribute to shaping the future of our operations. This position offers the opportunity to innovate and enhance existing processes, making a tangible impact on the way we conduct our reinsurance business.

Key Responsibilities:

1. Reinsurance Contract Management
   • Lead the setup of reinsurance contracts, ensuring accurate premium registration and effective claims and recoveries processing.
   • Conduct thorough reviews of Reinsurance Slips, Premium Allocations, and Cover Notes issued by brokers and reinsurers.
   • Book contracts and register premiums for Sub Deductibles, FAC, and MN Co-Reinsurance within the CEG system, ensuring meticulous attention to detail.
   • Proactively coordinate with underwriters and brokers to guarantee prompt registration of reinsurance arrangements.
2. Credit Control & Financial Management
   • Oversee the settlement of RI Premiums with major trading partners, ensuring compliance with contracts and established procedures.
   • Maintain rigorous credit control for Reinsurance Recoveries and premium payables, consistently achieving collection targets (e.g., >90% within 90 days).
   • Act as a key point of contact for Global Multinational accounts, building robust relationships with Underwriters, MSU Technicians, and Claims handlers across Europe.
3. Analytical Support & Issue Resolution
   • Provide comprehensive analytical support to the Head of Retail Reinsurance Technical Services by reviewing legacy balances and identifying actionable insights to resolve key issues.
   • Monitor low-value balances, developing targeted action plans to enhance efficiency and operational effectiveness.
   • Challenge existing workflows and propose innovative solutions to refine processes and strengthen controls.
4. Training & Development
   • Mentor and train junior team members, imparting knowledge and expertise to build a capable and confident team.
   • Collaborate with the Head of Retail Reinsurance Technical Services to provide ongoing supervision and development opportunities for less experienced staff.
5. Stakeholder Engagement
   • Foster strong relationships with internal teams (Underwriting, Multinational, Intercompany Finance, Claims, Technical) and external partners (Brokers, Reinsurers) to facilitate smooth operations and meet strategic goals.
6. Process Optimization & Efficiency
   • Continuously review and enhance business processes to drive operational efficiencies, suggesting improvements in collaboration with IT and operational teams.
   • Assist in the development and implementation of new systems and process enhancements to keep pace with industry advancements.
7. Governance & Compliance
   • Ensure adherence to internal governance and SOX controls, maintaining high standards of compliance and accountability.
   • Support internal and external audits by keeping meticulous records, providing relevant documentation, and promptly addressing inquiries.