Reinsurance Technician

2 weeks ago

London, Greater London, United Kingdom MW Appointments Full time
Reinsurance Technician Job Description

We are seeking a skilled Reinsurance Technician to join our team at MW Appointments. As a Reinsurance Technician, you will play a crucial role in the Reinsurance Department, working closely with our clients and internal teams to deliver exceptional results.

Key Responsibilities:
  • Produce accurate and timely placing slips, endorsements, Evidence of Covers, Addendums, and Verification of Reinsurance documents that meet our Best Practice Manual (BPM) and current market practice standards.
  • Review documents at key stages to ensure accuracy and completeness for subsequent processing.
  • Process original and additional/return premiums using our Insurance Broking Software system.
  • Generate Client accounting documentation and market closing documentation for submission to the company market and bureaux.
  • Monitor premium payment and pursue the receipt of funds from Reinsureds to ensure settlement terms/PPWs are met, or escalate problems to divisional management as necessary.
  • Assist the Finance Division with reconciliation of unallocated cash as soon as practicable or escalate the problem to divisional management as appropriate.
Requirements:
  • Market and industry structure and operation, including regulatory awareness.
  • Technical insurance knowledge to CertCII level or equivalent experience.
  • Sector-specific risks and reinsurance products/solutions.
  • IT literacy in Word, Outlook, and Excel.
  • Client servicing.
  • Accuracy and thoroughness.
  • Excellent communication skills, written and oral.
  • Internal structure and organisation.
  • Knowledge and understanding of the FCA.
  • Money laundering/prevention of financial crime.
  • Internal procedures, including knowledge and understanding of the Best Practice Manual.
  • Trace Twins/OpenTWINS (or similar) and operational use of IT systems/platforms.

We are looking for a motivated and detail-oriented individual who is passionate about delivering exceptional results in a fast-paced environment. If you have a strong background in reinsurance and are looking for a new challenge, we encourage you to apply for this exciting opportunity.

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