Reinsurance Specialist (Technical Operations), Ceded Reinsurance
London, UK
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, with the AXA XL Chief Risk Officer being a member of the AXA XL Leadership team.
The Ceded Re Operations team is responsible for the administration of all Treaty Reinsurance business written within AXA XL. The team is composed of 4 key areas: Technical Operations, Technical Accounting, Data & Operations Reporting, and Central Operations.
This role resides within the Ceded Reinsurance Specialty Technical Operations team based in London, which is responsible for:
Global Specialty reinsurance policy set-up for Property & Aviation tower and administration of Ceded Reinsurance issued to brokers.
Required
The individual will be required to oversee and manage the life cycle of Treaty, including but not limited to the following classes:
* Aviation War
* General Aviation
* Space
* Aviation Core
* Property (incl Core, dommage Ouvrage)
* Pools (Australia)
The Individual Will Be Required To
* Manage and operate Ceded reinsurance in 3 operating system tools.
* Partner with intermediaries to manage sanction-related issues, requiring close relations with internal customers and colleagues in Claims, Underwriting, Finance, Actuarial, and Legal.
* Work within Ceded Re and across departments to review and improve the Sanction review process, liaising with inward teams for resources and processes to gain insight for ceded.
* Build close relationships with the operations team based in the ESS Shared services area in India, holding regular calls to discuss workload and issues, providing support as required.
* Support the Ceded Re transformation journey, actively participating in projects aimed at driving efficiency and suggesting process improvements.
* Oversee any cash calls to issue as per contractual provisions.
* Ensure all contractual reporting requirements are met.
* Work closely with the Technical Accounting team to support the credit control process and improve cash flow.
* Attend regular meetings with Ceded Placement Officers to understand new placements and how ceded can be applied, ensuring understanding of how placements for various lines of business interact and nurturing relationships.
* Provide review and sign-off of new policy set up by ESS Shared Services in core systems.
REPORTING LINE
Chris Boom – Manager – Aviation & Property - Ceded Re Technical Operations
DISCOVER your opportunity
Environment And Challenges
Mandate
Responsibilities
The Ceded Re Operations team oversees accurate records of ceded reinsurance transactions (Treaties, Facs, and Captives) across AXA XL BUs (UK & Lloyds, Americas, APAC & Europe) and is accountable and responsible for Treaties (excluding Internal treaties) representing $7.4 Bn of ceded premiums in 2022 (approximately 70 treaties) corresponding to:
* 700 contracts set up yearly in the 3 operating tools;
* 80k bordereaux issued per year;
* 1.2K statements issued per quarter for QS treaties;
* 40K claims movements reviewed per month (Genius);
* Large loss reporting to senior management for Ceded input.
Team Engagement
Working closely with our Shared Services India team, including monitoring, review, and training on reinsurance treaty matters.
Exposure within AXA XL
Work with our Inward processing Middle office area for specific RI matters such as Facultative.
Claim management with brokers & reinsurers for any arising queries.
Liaise with Legal for matters arising from claims and sanctions.
Build relationships with internal claims adjusters.
Exposure to senior claims management on large loss reporting.
Communication with Finance & Actuarial on claims adjustments post-close for accrual consideration.
Liaison with the Ceded claims group on large claim matters.
SHARE your talent
We’re looking for someone who has these abilities and skills:
* Some experience with multiple lines of business in a Reinsurance environment.
* Advanced command of MS Office, particularly advanced Excel skills and potential Access.
* Ability to liaise with key stakeholders internally and externally.
* Good collaborator: can work effectively with key stakeholders at all levels.
* Coaching and capability-building, conscientious about quality and accuracy of work provided.
* Excellent time management and organization skills.
* Agility and ability to work on several topics simultaneously.
* Experience working with a virtual team.
* Effective communicator: Excellent verbal and written communication, collaboration both in person and virtually.
* Able to work to tight deadlines to correctly reflect in financials for close.
* Good eye for detail and process.
* Comfortable in giving training to the team where required.
* Ability to travel to other AXA XL offices for meetings and training colleagues.
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.
How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business − property, casualty, professional, financial lines, and specialty.
With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.
Learn more at axaxl.com
Inclusion & Diversity
At AXA XL, we know that an inclusive culture and a diverse workforce enable business growth and are critical to our success. That’s why we have made a strategic commitment to attract, develop, advance, and retain the most diverse workforce possible, creating an inclusive culture where everyone can bring their full selves to work and reach their highest potential. It’s about helping one another — and our business — to move forward and succeed.
Our Enterprise I&D Mission Is To Become The Most Inspiring Company To Work For. We’ll Achieve This Through Our Three Areas Of Focus:
* Drive an Inclusive Culture — create a global workplace that works for everyone, with a culture that values all individuals, backgrounds, and ideas, where every colleague feels safe, valued, and respected.
* Diversify Our Workforce — increase the representation of women in leadership, achieving 50% by 2023, and focus on underrepresented populations by region, positioning AXA XL as an employer of choice for all talent.
* Support Our Marketplace & Communities — support our communities and visibly and thoughtfully champion equity around the globe.
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. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called “Roots of resilience,” focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.
Our Pillars
* Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society – are essential to our future. We’re committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
* Addressing climate change: The effects of a changing climate are far-reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net-zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
* Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
* AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.
For more information, please see Sustainability at AXA XL.
Flexible Work Eligible
Flexible Work Schedule
AXA XL is an Equal Opportunity Employer.
Location
GB-GB-London
Job Field
Finance
Schedule
Full-time
Job Type
Standard
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