Job Title: Retrocession Senior Technical Operations Specialist
Job Number: 12002638D20241213
Location: London
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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 Retro Ceded Re Operations team is responsible for the administration of all Retro Treaty Reinsurance business placed within AXA XL, composed of two key areas: Technical Operations and Technical Accounting.
Key Responsibilities:
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, ensuring timely notification to reinsurers as per contract requirements.
4. Manage the internal control framework for Retro Ceded Re key controls for both Technical Operations and Technical Accounting, ensuring timely completion.
5. Assist in internal and external audits with requests and provide evidence as required.
6. Partner with brokers to manage settlement queries and sanction-related issues.
7. Maintain close relations with internal stakeholders and colleagues in Claims, Underwriting, Finance, and Actuarial.
8. Build relationships with the Retro Technical Operations team based in India, holding regular calls to discuss workload and issues.
9. Support the Ceded Re transformation journey, actively participating in projects aimed at driving efficiency and suggesting process improvements.
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 and ensure understanding of how placements for various lines of business interact.
Reporting Line: You will report to the Senior Manager Retrocession Operations.
Required Skills and Abilities:
1. Significant professional experience in reinsurance operations.
2. Experience in reinsurance finance, technical accounting, and reporting.
3. Knowledge of various forms of reinsurance, specifically QS and XOL.
4. Excellent written and oral communication skills.
5. Proven ability to multitask with attention to detail.
6. Proficient in Microsoft Office (Excel, Word, PowerPoint); knowledge of SQL is preferred.
7. Excellent research and analytical skills, with robust financial reconciliation skills.
8. Strong customer relation skills and result-driven approach.
9. Ability to prioritize, multitask, and work under pressure.
10. Ability to work well independently and as part of a team.
11. Self-motivated.
AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity, marital status, religion, disability, or any other protected characteristic.
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