Job Description - Retrocession Technical Accounting Specialist (12002637D20241213)
Job Number:
12002637D20241213
Retrocession Technical Accounting Specialist
London, UK
The Ceded Reinsurance department at AXA XL plays a crucial role in defining and implementing reinsurance strategy and overseeing the administration of reinsurance treaties throughout their lifecycle. As part of the AXA XL Risk Management function, the Ceded Re team is under the leadership of the AXA XL Chief Risk Officer.
Retro Ceded Re Operations team is responsible for the administration of all Retro Treaty Reinsurance business placed within AXA XL. Retro Ceded Re Operations is composed of both Technical Operations and Technical Accounting.
Responsibilities
Under the management of the Retro Ceded Re – Senior Reinsurance Specialist, the role will contribute to:
1. Manage end to end of credit control of complete retro ceded Accounts Receivable, Accounts Payable (ARAP);
2. Escalation at various levels to ensure closure of open items;
3. Bank account reconciliation;
4. Perform reconciliation between Destiny (operating tool) and Financial Data Mart (FDM);
5. Contribute to billing process and BDX management monitoring;
6. Interact with Ceded Re Insurance segment team;
7. Regulatory and Operational reporting – production and submission of operational regulatory reporting;
8. Internal Control – Ensure that processes and controls are complied with in accordance with our internal control framework;
9. Provide support and assistance to Line Manager;
10. Support Audit (internal/external) requests.
This role will also support below BAU activities:
1. ARAP backlog clearance project;
2. Ceded XOL Risks claims reporting;
3. Review quarterly Ceded Reserve Analysis prepared by Actuarial Department.
You will report to the Senior Manager Retrocession Operations.
Qualifications
We’re looking for the individual to have the following abilities and skills:
1. Graduate / Post Graduate with some experience within Re/insurance industry;
2. Robust written and verbal communication and interpersonal skills to work effectively with internal stakeholders, brokers and reinsurers;
3. Positive, innovative and make it better mindset to bring operational efficiencies;
4. Experience in MS-Excel and PowerPoint is required – support segment KPI and management reporting;
5. Self-starter who is solution orientated and has the ability to work within a team environment;
6. Organized with the ability to sort multiple priorities, meet tight deadlines and detail orientated;
7. Ability to use initiative in day to day activities to resolve issues or flag to management for review.
FIND your future
AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it.
AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic.
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