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Retrocession Senior Technical Operations Specialist
London
Ceded Reinsurance is a strategic function within AXA XL in charge of defining and implementing the reinsurance strategy as well as administrating all reinsurance treaties through their lifecycle. Ceded Re is part of the AXA XL Risk Management function, the AXA XL Chief Risk Officer being a member of AXA XL Leadership team.
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 2 key areas: Technical Operations and Technical Accounting.
DISCOVER your opportunity
This role resides within the Retro Ceded Reinsurance Technical Operations team based in London, which is responsible for administering all Retro Ceded Re XOL and QS treaties.
The individual will be required to:
1. Oversee the treaty/contract setup process to ensure accurate setup and payment of ceded premiums for both QS and XOL programs.
2. Oversee the preparation and issuance of bordereau to brokers and reinsurers as per contract requirements.
3. Monitor inward claim movements to identify and apply where retro ceded recoveries can be made. Calculate and apply retro ceded recoveries in the Ceded Claims System for XOL programs and ensure that reinsurers are notified on time as per contract requirements.
4. Manage the internal control framework for Retro Ceded Re key controls for both Technical Operations and Technical Accounting and ensure they are completed on time.
5. Assist in internal audit and external audit with requests and provide evidence as required.
6. Partner with our brokers to manage settlement queries and sanction-related issues.
7. Maintain close relations with our internal stakeholders and colleagues in Claims, Underwriting, Finance, and Actuarial.
8. Build close relationships with the Retro Technical Operations team based in India and hold regular calls to discuss workload and issues, providing support as required.
9. Support Ceded Re transformation journey, actively participating in projects that aim to drive efficiency. Review processes and suggest improvements where appropriate.
10. Ensure all contractual reporting requirements are met and reviewed.
11. Work closely with the Technical Accounting team to support the credit control process and improve cash flow.
12. Attend regular meetings with Ceded Placement Officers to understand new placements, ensuring understanding of how placements for various lines of business interact and nurturing relationships.
REPORTING LINE
You will report to - Senior Manager Retrocession Operation
SHARE your talent
We're looking for someone who has these abilities and skills:
Required Skills and Abilities:
1. Significant professional experience in reinsurance operations.
2. Experience in reinsurance finance and technical accounting and reporting.
3. Knowledge of various forms of reinsurance, specifically QS and XOL.
4. Excellent written and oral communication skills.
5. Proven efficiency in multitasking, with attention to detail.
6. Proficient in Microsoft Office (Excel, Word, PowerPoint); knowledge of SQL is preferred.
7. Excellent research and analytical skills, robust financial reconciliation skills.
8. Display excellent customer relation skills, as well as result-driven.
9. Ability to prioritize, multitask, and work under pressure.
10. Ability to work well independently and as part of a team.
11. Ability to self-motivate.
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.
Learn more at axaxl.com
Inclusion & Diversity
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.
Learn more at axaxl.com/about-us/inclusion-and-diversity. AXA XL is an Equal Opportunity Employer.
Sustainability
At AXA XL, Sustainability is integral to our business strategy. Our 2023-26 Sustainability strategy focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.
For more information, please see axaxl.com/sustainability
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