Job Description - Junior Reinsurance Technician (12002601D20241029)
Junior Reinsurance Specialist (Ceded Reinsurance)
London, England, United Kingdom
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 the AXA XL Leadership team.
Ceded Re Operations team is responsible for the administration of all Treaty Reinsurance business written within AXA XL. Ceded Re Operations 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:
Managing the life cycle of Treaties for Global reinsurance including Property, Marine and Aerospace lines of business.
Responsibilities:
* Participate in all aspects of administration of Ceded Reinsurance including:
o Policy set-up in core systems
o Ensuring premium is paid as per contractual obligations
o Identification and application of ceded recoveries
o Working with broking intermediaries to resolve reinsurer issues & sanctions
o Application of Retro RI tool to ensure correct QS cessions
* Manage and operate Ceded reinsurance in 3 operating system tools.
* Partner with intermediaries to manage sanction-related issues.
* Work within Ceded Re and across departments to review and improve the Sanction review process.
* Build close relationships with the operations team based in India, holding regular calls to discuss workload and issues.
* Support Ceded Re transformation journey, actively participating in projects aimed at driving efficiency.
* Oversee any cash calls to issue as per contractual provisions.
* Ensure all contractual reporting requirements are met.
* Work closely with Technical Accounting team to support the credit control process and improve cash flow.
* Attend regular meetings with Ceded Placement Officers to understand new placements.
* Provide review and sign-off of new policy setups by ESS Shared Services in core systems.
REPORTING LINE
Alex Davey – Senior Manager – Specialty & Property - Ceded Re Technical Operations
ENVIRONMENT AND CHALLENGES:
Mandate
Ceded Re Operations team oversees accurate records of ceded reinsurance transactions across AXA XL BUs and is accountable for Treaties representing $7.4 Bn of ceded premiums.
* 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;
* Large loss reporting to senior management for Ceded input.
Team Engagement
Work 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.
* Legal – liaise with Legal for matters arising from claims and sanctions.
* Claims adjusters – build relationships with internal claims adjusters.
* Finance & Actuarial – communication on claims adjustments post-close.
* Ceded claims group – liaison on large claim matters.
Qualifications:
* Some experience with multiple lines of business in a Reinsurance environment.
* Advanced command of MS Office, particularly Excel.
* Ability to liaise with key stakeholders internally and externally.
* Good collaborator, able to work effectively with stakeholders at all levels.
* Excellent time management and organization skills.
* Agility to work on multiple topics simultaneously.
* Efficient communicator with excellent verbal and written skills.
* Good eye for detail and process.
* Ability to travel to other AXA XL offices for meetings and training.
FIND your future
AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks.
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.
AXA XL is an Equal Opportunity Employer.
Location
GB-GB-London
Work Locations: GB London 20 Gracechurch Street, London, EC3V 0BG
Job Field
Finance
Schedule
Full-time
Job Type
Standard
AXA XL is an Equal Opportunity Employer and does not discriminate against any colleague or applicant for employment on the basis of race, color, national origin, religion, sex, gender identity and/or expression, sexual orientation, age, disability, genetic information, veteran status, military status or any other category protected by local law.
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