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Junior Reinsurance Technician - Studentjob.co.uk
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Looking for a role that will have a meaningful impact on Reinsurance?
We are looking for an individual to join our growing Reinsurance Team.
What part will you play?
If you're looking for a place where you can make a meaningful difference, you've found it. The work we do at Markel gives people the confidence to move forward and seize opportunities, and you'll find your fit amongst our global community of optimists and problem-solvers. We're always pushing each other to go further because we believe that when we realize our potential, we can help others reach theirs.
Join us and play your part in something special!
The opportunity:
Reinsurance and Business Accounting sit within our global finance team. We use a structured and scalable way of working to keep aged debt low and get the most out of our ceded reinsurance assets. By doing this, we make sure we're getting full value from our reinsurance spend, support balance sheet stability, drive cash flow and contribute positively to the P&L. We're big on data quality and always looking for ways to improve processes, using digital tools to simplify and streamline day-to-day tasks.
The Reinsurance team looks after everything related to Markel's ceded reinsurance programme once it's been placed. The Business Accounting team focuses on collecting debt, settling balances, billing and invoicing, as well as technical accounting and reporting.
We pride ourselves on prioritising employee wellbeing and embrace a flexible working environment.
What you'll be doing:
- Create reinsurance risks in core systems, ensuring policy terms are accurately recorded and maintained.
- Be a team player and provide support to the reinsurance team in all aspects. Take accountability and ownership on the tasks provided, including exploring solutions and ideas to optimise the process.
- Ensure reinsurance premium and related expenses are correctly booked, advised, and settled under Contractual Terms.
- Ensure the timely and accurate calculation and issuance of reinsurance recoveries for both paid claims and outstanding reserves, responding to any query within five working days of receipt. Accurately record all reinsurance recoveries in core systems. Work with internal and external parties to expedite receipt of reinsurance funds.
- Support and satisfy all internal and external reporting requirements, in accordance with deadlines.
- Escalate material issues on a timely manner and monitor through to resolution.
- Demonstrate an understanding of the reinsurance process and internal controls which are in place to support it, including, but not limited to Sarbanes-Oxley (SOX). Support team to ensure all controls are complied with.
- Analyse reinsurance data across systems to identify inconsistencies, exceptions and improvement opportunities, supporting ongoing data quality initiatives (e.g. Centralised data platforms and reporting tools).
- Support automation and process improvement initiatives, including assisting with data extraction, transformation and validation across systems.
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Our must-haves:
- Able to demonstrate knowledge of insurance and reinsurance would be beneficial.
- Possess a positive, curious attitude and demonstrate willingness to learn and grow together. Be open and creative.
- Exhibit good data and numerical aptitude, with the ability to work with and understand datasets. Exposure to tools such as SQL, Python, Power BI or Alteryx (e.g. Through university or personal projects) is desirable but not essential. Strong Excel skills and proficiency in Microsoft Office would be beneficial.
- Show strong analytical thinking and problem-solving ability, with examples (academic or practical) of working with data or solving structured problems
- Be delivery oriented, motivated to succeed and energised to intentionally drive their own personal development. A capacity to learn is imperative and initiative is highly valued. Completing accountancy or insurance qualifications is encouraged.
- Demonstrate excellent communication and interpersonal skills, with proven examples of delivery.
- Be versatile and demonstrate experience managing large volumes of work, with changing priorities and tight timeframes.
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Who we are:
Markel Group (NYSE - MKL) a Fortune 500 company with over 60 offices in 20+ countries, is a holding company for insurance, reinsurance, specialist advisory, and investment operations around the world.
We're all about people | We win together | We strive for better | We enjoy the everyday | We think further
What's in it for you?
- A great starting salary plus annual bonus & strong benefits package...
- 25 days paid holiday plus Bank Holidays, with the opportunity to buy/sell extra leave
- Fantastic company pension scheme, private medical and dental cover, life assurance, travel insurance cover, income protection, season ticket loan as well as other great benefits on offer
- There are countless opportunities to learn new skills and develop in your career and we can provide the support needed to do just that!
Are you ready to play your part?
Choose 'Apply Now' to fill out our short application, so that we can find out more about you.
Markel celebrates the value of a diverse workforce that brings experience and expertise from a wide variety of backgrounds and life circumstances. Whatever your background, if you feel you meet the requirements of this role then we want to hear from you. We are also happy to consider candidates who are looking for flexible working patterns.
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, colour, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status.
We will ensure that individuals with disabilities are provided with all reasonable accommodations to be able to participate in the job application or interview process and to perform essential job functions if successful. Please contact us via email at rec@markel.com or call us at 0161 507 5827 to request any accommodations that may be needed. This includes any alternative formats of any documents or information on how to apply offline.
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