Reinsurance Credit Controller page is loaded
Reinsurance Credit Controller
Apply locations UK - London ( St Botolph ) time type Full time posted on Posted 9 Days Ago job requisition id 2025-146
With offices around the world and underwriting more than 100 classes of specialty insurance, Tokio Marine HCC (“TM HCC”) is a leading specialty insurance group. Our products and capabilities set the standard for the industry, and many of the company’s almost 3,000 employees are industry-leading experts. Since its founding in 1974, we have achieved an outstanding record of growth and profitability.
Reinsurance Accounting Team remit
The Reinsurance Accounting team is responsible for the post placement management and administration of the TMHCC International outwards reinsurance program. We engage with each Line of Business Underwriting team to understand their assumed portfolio and the reinsurance program purchased to enhance our service offering. We use our collective knowledge, experience and expertise to deliver value add service and proactive support on the handling and performance of each portfolio. Collaborative engagement with our external broker and carrier contacts enables the delivery of the contractual obligations and terms of trade by each party.
Core activity:
Establish RI Accounting as a key business partner across all Underwriting Line of Business and be accountable for managing trading relationships. Understand reinsurance contracts in outwards systems and monitor settlement of reinsurance premium to broker and carrier. Identification of reinsurance recoveries within reinsurance systems and facilitate cash collection and allocation, with consideration of Counterparty Management credit control opportunities. Program performance reporting with delivery of KPI metrics and engagement with key stakeholders, brokers, and clients across portfolio.
Reinsurance Accounting Credit Controller role and responsibilities:
* Ownership and accountability for credit control and counterparty management oversight of broker and reinsurers to ensure portfolio performance
* Review and evaluation of contract terms to ensure due dates are captured allowing timely recovery of reinsurance balances
* Manage and administer credit control opportunities across all reinsurance types purchased – facultative, proportional and non-proportional treaty
* Evaluation of actual vs estimated premium throughout life of contract to evaluate potential Premium Adjustments, Profit Commission & No Claims Bonus or Loss AP’s
* Liaise with RI Account Handlers, underwriting lines of business, claims, brokers and clients to resolve queries
* Utilise broker and client meetings to drive cash collection and discuss broker and client payment performance
* Monthly reporting into Group Finance and back to underwriting team to seek agreement and understanding of all material movements
* Drive with delivery of KPI’s for International and London Market business across all lines of business and trading partners
* Compliance with the Finance month/quarter/year-end deadline requirements
* Knowledge sharing of portfolio handling across Reinsurance accounting team to ensure business continuity
* Supporting key departmental initiatives and projects such as change in core reinsurance systems, control and process enhancement and e admin development
* Aged Debt analysis to ensure reduction in > 90-day debt and prevention of further debt deterioration
* Portfolio analysis of reinsurer exposure, reinsurer and broker payment performance as well as program and line of business performance
* Delivery of team training on credit control and counterparty management practice and procedure
* Coordination of FP&A reporting adding insight and acumen to Reinsurance financials across actual/budget/forecast
* Understanding of Reinsurance Accounting activity on ledger and P&L
* Input into Regulatory and reporting requirement delivery:
o Solvency II
o Schedule F
o PLR
o Ageing analysis and aged debt
Skills and Experience Specification:
* Experience, knowledge and understanding of the Insurance/Reinsurance Market from a Lloyd’s, Company or broker market perspective
* Ability to learn and adapt in a dynamic environment
* Methodical approach to problem solving and decision making
* Customer focus and service mentality
* Self-motivated, can-do attitude and pro-active mindset
* Works well as part of a team and on individual tasks
* Focus on execution and timely delivery of quality outputs
* Strong verbal and written communication skills
* Strong computer skills - knowledge of Microsoft Excel Pivot Tables, V-Lookups, and MS PowerPoint
* Ability to influence and guide self and others to reach and maintain a Best in Class reinsurance team
* Work collaboratively across RI Accounting, Finance and key Underwriting stakeholders to achieve common goals
Your success is our priority. In a world that is rapidly changing, TMHCC enables you to take on opportunities with confidence.
At Tokio Marine HCC, we pride ourselves on hiring the smartest, most conscientious people, who want to
make a difference no matter their background. And then we give them the support and trust they need.
We’re always looking for curious, creative transformative thinkers who want to change the status quo
and have a passion for doing the right thing. If this is you, then we want you on our team.
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