Trainee Ceded Reinsurance Technician

About us

Avencia Consulting are recruiting on behalf of a leading Bespoke & Specialty Insurer who are looking to hire a Trainee Ceded Reinsurance Technician on a fixed term contract basis. This role will be based on site 5 days a week in the London office!

The Company currently writes lines of business including; specialty insurance: aviation & aerospace, energy, marine, property, terror & political violence, contingency and other specialty lines; reinsurance: property reinsurance, property retrocession, specialty reinsurance, whole account/multi-class and bespoke.

The role

This role will be an essential part of the Ceded Reinsurance Operations team, reporting to the Ceded Reinsurance Technical Operations Manager. The Trainee Ceded Reinsurance Technician's role is to support the Ceded Reinsurance Technical Operations Manager in delivering timely and accurate post-placement administration of the group's ceded reinsurance program.

The incumbent is expected to possess a good level of systems and data knowledge and will benefit from exceptional professional development within the Ceded Re team. The Ceded Re team purchases outwards reinsurance for all classes of business and sits within the Underwriting team therefore giving an excellent grounding for an aspiring reinsurance/underwriting career path.

Full training will be given on the job and the incumbent will also have access to funding for professional studies and exams such as the ACII.

Key accountabilities

• Administer reinsurance contracts to ensure the Group complies with all contractual obligations, to include the calculation and processing of M&D premiums, premium adjustments, quota share statements and bordereaux, profit commissions and NCB's
• Ensuring all ceded reinsurance contracts are accurately recorded in the policy admin system
• Administer payment requests and credit control recoveries balances
• Calculate and process facultative and excess of loss reinsurance recoveries
• Provide pro-active customer service to operations, underwriting, actuarial and finance teams.
• Respond promptly to reinsurer and broker queries
• Be actively involved in the on-going development of the Company's reinsurance administration procedures and systems
• Undertake any reasonable duties as may be requested by the Outwards Reinsurance Team

Skills & experience

• University degree or A Levels, preferably in a numerate field (finance, statistics, economics, mathematics, etc.)
• Strong knowledge of the Microsoft Suite of applications with Excel skills such as iterative formulae (nested ifs), multi-criteria lookups (index, match), sumifs and pivot tables. Power query/VBA/SQL experience a plus, but not required.
• Strong analytical and organizational skills.
• Ability to work effectively as part of the Ceded Reinsurance Team as well as with other key stakeholders across different functions within the organization.
• Ability to work under pressure and handle a varied, fluctuating workload.
• Excellent verbal and written communication skills.