Senior Reinsurance Technician

Job Title: Senior Reinsurance Technician

Position Type: Permanent full time. Hybrid 3 days in office)

Location: London UK

Overview:

Why Tokio Marine HCC

Standing still is not an option in the current world of Insurance. TMHCC are one of the worlds leading Specialty Insurers. With deep expertise in our chosen lines of business our unparalleled track record and a solid balance sheet TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit empowering our people and delivering on our commitments are at the core of our customer values and so is a desire to grow and provide creative and innovative solutions to our clients.

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.

Job Purpose:

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.

Key Responsibilities:

• Ownership and accountability for Line of business broker and reinsurers to ensure portfolio performance across endtoend process
• Review and evaluation of Evidence of Cover and contract wording administration ensuring all major clauses included
• Contract capture for all reinsurance types purchased facultative proportional and nonproportional treaty into RI Accounting team reinsurance system XLPro Workflow (ImageRight) and Exposure Aggregation (Exact) systems.
• Timely booking and payment of reinsurance premium in accordance with contractual terms
• Identification and Calculation of reinsurance asset and booking into source systems through monthly close process
• Evaluation of line of business gross to net to ensure in line with RI Accounting and Line of Business expectations
• Issuance and monitoring of reinsurance claim collection notes as per contract terms and conditions for Non proportional facultative and proportional covers
• Review Large Loss Reports and prepare Risk and Claim documentation to support reinsurance submissions
• Evaluation of actual vs estimated premium throughout life of contract to evaluate potential Premium Adjustments Profit Commission & No Claims Bonus or Loss APs
• Handle the reinsurance recoveries including query resolution and proactively manage applicable bad debt reserves
• Liaise with Credit Control underwriting lines of business claims brokers and clients to resolve queries
• Establish and coordinate Client and broker meetings to support our understanding of external stakeholder needs and expectations whilst driving issue resolution and cash collection
• Monthly reporting into Group Finance and back to underwriting team to seek agreement and understanding of all material movements
• Drive with delivery of KPIs analytical review and interpretation of month and quarter end results for all aspects of the ceded P&L 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
• Delivery of team training on Insurance and Reinsurance practice and procedure
• Review and evaluation of Reinsurance data to identify commutation targets to close burdensome portfolios leverage complex claim issue resolution and monitor aggregate exposure with reinsurers
• Supporting and leading key departmental initiatives and projects such as change in core reinsurance systems control and process enhancement and e admin development

Skills and Experience Specification:

• Experience knowledge and Indepth understanding of the Insurance/Reinsurance Market from a Lloyds Company or broker market perspective
• Ability to learn and adapt in a dynamic environment
• Capable of applying knowledge and experience in different situations
• 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
• Ability to influence and guide self and others to reach and maintain a Best in Class reinsurance team
• Focus on and timely delivery of quality outputs
• Strong verbal and written communication skills ability and confidence to challenge existing procedures & use of system
• Strong computer skills knowledge of Microsoft Excel Pivot Tables VLookups and MS PowerPoint
• Work collaboratively across RI Accounting Finance and key Underwriting stakeholders to achieve common goals
• Support development of team members through acting as positive role model

What We Offer

The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals.

The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit for more information about our companies.

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