Reinsurance Credit Controller

With offices around the world and underwriting more than 100 classes of specialty insurance Tokio Marine HCC (TM HCC) is a leading specialty insurance group. Our products and capabilities set the standard for the industry and many of the companys almost 3000 employees are industryleading experts. Since its founding in 1974 we have achieved an outstanding record of growth and profitability.

Reinsurance Accounting Team remit

The Reinsurance Accounting team is responsible for the post placement management and administration of the TMHCC International outwards reinsurance program. We engage with each Line of Business Underwriting team to understand their assumed portfolio and the reinsurance program purchased to enhance our service offering. We use our collective knowledge experience and expertise to deliver value add service and proactive support on the handling and performance of each portfolio. Collaborative engagement with our external broker and carrier contacts enables the delivery of the contractual obligations and terms of trade by each party.

Core activity:

Establish RI Accounting as a key business partner across all Underwriting Line of Business and be accountable for managing trading relationships. Understand reinsurance contracts in outwards systems and monitor settlement of reinsurance premium to broker and carrier. Identification of reinsurance recoveries within reinsurance systems and facilitate cash collection and allocation with consideration of Counterparty Management credit control opportunities. Program performance reporting with delivery of KPI metrics and engagement with key stakeholders brokers and clients across portfolio.

Reinsurance Accounting Credit Controller role and responsibilities.

The successful candidate will be expected to understand and manage the needs of key stakeholders; Brokers/Reinsurers Underwriting team and Group Finance then demonstrate reinsurance knowledge and organisational acumen in order to deliver upon the RI Accounting remit.

• Ownership and accountability for credit control and counterparty management oversite of broker and reinsurers to ensure portfolio performance
• Review and evaluation of contract terms to ensure due dates are captured allowing timely recovery of reinsurance balances
• Manage and administer credit control opportunities across all reinsurance types purchased facultative proportional and nonproportional treaty
• Evaluation of actual vs estimated premium throughout life of contract to evaluate potential Premium Adjustments Profit Commission & No Claims Bonus or Loss APs
• Liaise with RI Account Handlers underwriting lines of business claims brokers and clients to resolve queries
• Utilise broker and client meetings to drive cash collection discuss broker and client payment performance
• Monthly reporting into Group Finance and back to underwriting team to seek agreement and understanding of all material movements
• Drive with delivery of KPIs for International and London Market business across all lines of business and trading partners
• Compliance with the Finance month/quarter/yearend deadline requirements
• Knowledge sharing of portfolio handling across Reinsurance accounting team to ensure business continuity
• Supporting key departmental initiatives and projects such as change in core reinsurance systems control and process enhancement and e admin development
• Aged Debt analysis to ensure reduction in > 90day debt and prevention of further debt deterioration
• Portfolio analysis of reinsurer exposure reinsurer and broker payment performance as well as program and line of business performance
• Delivery of team training on credit control and counterparty management practice and procedure
• Coordination of FP&A reporting adding insight and acumen to Reinsurance financials across actual/budget/forecast
• Understanding of Reinsurance Accounting activity on ledger and P&L
• Input in to Regulatory and reporting requirement delivery:
  • Solvency II
  • Schedule F
  • PLR
  • Ageing analysis and aged debt

Skills and Experience Specification:

The successful candidate will require knowledge and experience gained through working for an Insurance/Reinsurance Syndicate Company or Broker.

• Experience knowledge and understanding of the Insurance/Reinsurance Market from a Lloyds Company or broker market perspective
• Ability to learn and adapt in a dynamic environment
• Methodical approach to problem solving and decision making
• Customer focus and service mentality
• Selfmotivated cando attitude and proactive mindset
• Works well as part of a team and on individual tasks
• Focus on and timely delivery of quality outputs
• Strong verbal and written communication skills
• Strong computer skills knowledge of Microsoft Excel Pivot Tables VLookups and MS PowerPoint
• Ability to influence and guide self and others to reach and maintain a Best in Class reinsurance team
• Work collaboratively across RI Accounting Finance and key Underwriting stakeholders to achieve common goals