Ceded Reinsurance Technician

Ceded Reinsurance Technician

London

Negotiable Salary + Excellent Benefits

Our client is a Lloyd's Syndicate and (Re)insurer, known as a leader in the London Market, who highly value their staff whilst offering an exciting, dynamic and career driven culture, one where you will grow your skills, knowledge and career from the very first day!

We are currently recruiting on their behalf for a Ceded Reinsurance Technician, based at their office in the heart of London. The successful candidate will be primarily responsible for assisting with all ceded post-bind aspects of the company, for a defined ceded external portfolio and internal cessions written across the various platforms.

Key Responsibilities

• Interpret and set up ceded reinsurance contract terms and ceded collateral trust agreements in the underwriting and accounting systems.
• Liaise with relevant stakeholders to ensure proper contract management, set-up and administration.
• Review, analyse and process ceded transactions at contract set up, and ensure final contractual terms are complete and accurately reflected.
• Monitor large movements on catastrophe events and understand the implications of assumed losses on ceded portfolio.
• Support / complete ceded aspects of the monthly / quarterly close.
• Support month-end / quarter-end processing and reconciliation of ceded accruals and recoveries in the company's accounting systems.
• Liaise with relevant stakeholders to ensure the accuracy of transactions, internal / external reporting, and financial disclosures.
• Prepare and analyse ceded proportional bordereaux and claims recoveries notifications: communicate actual vs. expected variances and other gross to net analysis to respective underwriters for sign off; liaise with brokers / reinsurers.
• Provide support with collateral requirements, amend / withdraw / release when applicable, process and reconcile in the company's accounting systems.
• Liaise with internal and external auditors.
• Additional duties include: performing cash pairing and analysis; preparing reinsurer cash reconciliations; monitoring aging of receivables, and pursuing collection of receivables / recoveries from reinsurers and settlement of payables when due; researching and reconciling discrepancies, and minimising unapplied cash at each quarter-end close; providing updates to the Operations Cash team.

Key Requirements

• At least 2-5 years experience in a similar role within Lloyd’s / London Market Reinsurance, Operations, or Credit Control.
• Knowledge of Ceded Reinsurance is preferred, but not essential.
• Experience of using SICS and REMS is advantageous.

Keywords: Reinsurance Technician; Reinsurance Operations; Reinsurance Analyst; Lloyd's Syndicate; London Market

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