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Senior Reinsurance Technician

1 month ago

London, Greater London, United Kingdom Munich Re Specialty Group Full time

Job Summary

The Senior Reinsurance Technician will be responsible for handling all aspects of reinsurance purchased by the Syndicate. This includes assisting in the quarterly Reinsurance close as per the Syndicate's Procedures Manual, attending RI/Claims/Underwriting and broker meetings/discussions as required, and authorizing claim and premium transactions on LORS and accurately allocating the resulting USM cash entry within the RI System.

Key Responsibilities

  • Deal with all aspects of reinsurance purchased by the Syndicate.
  • Assist in the quarterly Reinsurance close as per the Syndicate's Procedures Manual.
  • Attend RI/Claims/Underwriting and broker meetings/discussions as required.
  • Authorize claim and premium transactions on LORS and accurately allocate the resulting USM cash entry within the RI System.
  • Develop a good working knowledge of the Syndicate's Reinsurance system.
  • Collate recovery statistics when requested.
  • Support in the calculation and advice of premium adjustments.
  • Support in the calculation and advice of profit commissions due.
  • Keep written records of all substantive conversations with brokers etc.; both internal and external, in accordance with the firm's procedures manual.
  • Take a pro-active role in any reinsurance disputes that might arise.
  • Collate information for audits (both internal & external) as and when required.

Requirements

  • Ability to fully support Ceded Re RI recoveries manager in all aspects of the Syndicate's RI processes.
  • Ability to teach/instruct less senior members of the Ceded Re Team.
  • Working knowledge of all Non-marine & Marine classes of business.
  • Working knowledge of all Non-proportional, Proportional and Facultative Reinsurance processing.
  • Basic understanding of all related Syndicate disciplines.
  • The ability to work independently and resolve complex problems with little guidance.
  • London Market outwards Reinsurance processing experience (both marine and non-marine) preferably gained working for a Lloyds Syndicate or London Market Company.
  • A good level of data analytics experience for internal and external reporting.

About Us

Munich Re Specialty Group is committed to building a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. We recognize diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that is celebrated, valued, and has equitable opportunities to succeed.

Your Career with Us

At Munich Re Specialty Group, you'll find the flexibility, development, and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance, and more.