Woodland Partners
Reinsurance Manager - Global Reinsurer
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Woodland Partners Job Opportunity
Woodland Partners are working with this global Reinsurance Group to source their new Reinsurance Manager reporting into the CEO of the relevant division. The role will be solely responsible for all aspects of outwards reinsurance covering a number of entities. The role will have total accountability for its respective reinsurance assets. This person will be the Ceded Re representative at any necessary meetings including the Board meetings.
Key Responsibilities
- Preparing outward technical accounts, and reinsurance recovery collections including the production of premium adjustments, cash losses, profit commissions, loss APs and the like, all with their respective monitoring of aged debt.
- Accurate and timely MI to be provided to all relevant key stakeholders across the Group as well as providing support for any team requiring assistance with regards to outwards reinsurance.
- Capturing, calculation and recording of reinsurance amounts, whether proportional or non-proportional, facultative or treaty.
- Issuing statements and recoveries within reasonable timescales and meeting contract obligations. Prepares outward reinsurance technical accounts for proportional reinsurances.
- Accurate and timely preparation of periodic accounts which can include funds withheld and sliding scale provisions.
- Review and calculations of cash losses, profit commissions and portfolio transfers.
- Applies knowledge of treaty terms and conditions to accounting transactions.
- Contractual obligations to be adhered to. Monitoring for excess of loss reinsurance recoveries and advices to the market which can include indexation provisions.
- Monitoring issued premium adjustments and updating systems if necessary for reinstatement calculations.
- Issuing loss notifications based on IBNRs or market events where necessary.
- Company reinsurance amounts.
- Responsible for the agreement of all company reinsurance statements and their respective amounts.
- Payments and collections to be made within contractual obligations.
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Ceded Asset Management
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- Regular monitoring and chasing of aged debt across all accounts.
- Responding to reinsurer queries in a timely fashion with the assistance of the claims, legal and underwriting teams if required.
- Prepare analysis and proposals for potential commutations.
Committees and Group Meetings
- Be the Ceded Representative at any necessary Legacy meetings.
- Provide direction and solutions for any forthcoming matters.
Knowledge & Qualifications
- Minimum 5 years’ experience in outwards reinsurance administration and practices.
- CII qualifications including LIT preferred.
- A good understanding of reinsurance contract terminology with the ability to follow conditions stated.
- General reinsurance market experience with an emphasis on reinsurance administration across both, or either, Lloyd's and company markets.
- You will have an ability to independently resolve issues, assist in seeking process improvement and have confidence to manage minor projects or tasks through to fruition.
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