Senior Reinsurance Consultant

2 months ago

London, Greater London, United Kingdom AXA Group Full time

Ceded Reinsurance – Senior Reinsurance Consultant

As a pivotal function within AXA Group, Ceded Reinsurance is responsible for formulating and executing the reinsurance strategy while managing all reinsurance treaties throughout their lifecycle. This role is integral to the AXA Group Risk Management division, with the Chief Risk Officer being a member of the leadership team.

The Ceded Re Operations team oversees the administration of all Treaty Reinsurance business within AXA Group. This team is structured into four essential areas: Technical Operations, Technical Accounting, Data & Operations Reporting, and Central Operations.

This position is situated within the Ceded Reinsurance Technical Operations team, which is tasked with:

Administering Global Specialty Non-Marine Treaty, including claims for the identification and application of Ceded Reinsurance.

The successful candidate will manage claims for Non-Marine Specialty lines of business, which include but are not limited to:

  • Fine Art and Specie
  • Aquaculture
  • Accident and Health
  • Product Recall
  • Equine
  • WTPV
  • Commercial Bond
  • Sports & Leisure
  • Title
  • Crisis Management

Key Responsibilities:

  • Ensure accurate reflection of all Treaty placements within Ceded Re for Specialty Non-Marine in core systems, including appropriate XOL allocations in financial reports.
  • Manage and operate Ceded reinsurance using three operational system tools.
  • Collaborate with intermediaries to address account inquiries and sanction-related matters.
  • Build strong relationships with the operations team in the shared services area, facilitating regular discussions to address workload and challenges.
  • Review and approve new policy setups by the shared services team in core systems.
  • Maintain close communication with Placement and S&A teams, leading discussions during renewal periods.
  • Ensure compliance with all contractual reporting requirements.
  • Monitor tracking reports to confirm timely issuance of Specialty quarterly accounts and notify management and brokers of any missed deadlines.
  • Oversee the quarterly accrual process for defined Specialty lines, ensuring accurate reporting to the Finance team.
  • Manage the Retro RI process to ensure all applicable inward risks are associated with QS accounts.
  • Maintain key control and business controls as outlined in the control narrative.
  • Participate in transformation and innovation projects.
  • Track inward claim movements to identify and apply ceded recoveries, ensuring accurate calculations in core underwriting systems.
  • Review Ceded comments from the shared services team on reports to ensure correct application of Ceded to Treaty.
  • Support the Ceded Claims team with commutation requests and complex claims management.
  • Assist in internal and external audits related to claims requests.
  • Ensure all contractual reporting requirements are met and reviewed as part of weekly movement reports.
  • Collaborate with the Technical Accounting team to enhance the credit control process and improve cash flow.

Reporting Line:

Manager – Ceded Re Technical Operations

Environment and Challenges:

The Ceded Re Operations team is responsible for maintaining accurate records of ceded reinsurance transactions across AXA Group's business units and is accountable for managing numerous treaties representing significant ceded premiums.

Required Skills and Qualifications:

  • Experience in claims management across multiple lines of business within previous insurance roles.
  • Advanced proficiency in MS Office, particularly Excel, with potential experience in Access.
  • Strong stakeholder engagement skills, both internally and externally.
  • Excellent collaboration and communication abilities.
  • Effective time management and organizational skills.
  • Ability to manage multiple projects simultaneously.
  • Experience working with virtual teams.
  • Strong attention to detail and process.
  • Willingness to travel for meetings and training.

AXA Group Overview:

AXA Group is renowned for addressing complex risks, providing innovative and flexible risk solutions to mid-sized companies, multinationals, and individuals. By leveraging a robust capital platform, data-driven insights, and leading technology, AXA Group is committed to delivering exceptional client service across various lines of business.

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