Our client, a growing specialty (re)insurance business operating in the Lloyd’s and London Market, is seeking a technically strong Outwards Reinsurance Technical Lead to support the continued growth of its operational platform and the build-out of its Lloyd’s managing agency capability.
Sitting within the Capital function and reporting to a senior leader in that team, the role combines end-to-end administration, reporting and oversight of the ceded reinsurance programme with the opportunity to help build and scale the technology, systems and processes that will underpin future growth.
The successful candidate will work across the wider Capital & Risk function, including portfolio analytics, pricing, reserving and data science as well as Finance, Operations and Underwriting.
They will play a key role in developing the firm’s operational reinsurance infrastructure, improving efficiency through automation and market-leading technology, and supporting the development of portfolio management and reporting capability.
This is a strong opportunity for someone who enjoys both technical reinsurance operations and building scalable, technology-led platforms and processes within a growing business.
This is probably the most exciting reinsurance business in London today.
Responsibilities:
Outwards Reinsurance Operations
- Administer complex ceded reinsurance treaties and facultative arrangements across proportional and non-proportional programmes.
- Interpret contract wordings and ensure accurate operational application.
- Maintain accurate system records for all reinsurance contracts.
- Process endorsements, amendments and contractual adjustments.
- Ensure operational workflows reflect contract terms, controls and market practice.
- Calculate and process ceded premiums, commissions, reinstatements and adjustments.
- Manage claims recoveries across proportional and non-proportional treaties.
- Oversee large and complex loss recoveries, including disputes where required.
- Ensure timely and accurate settlement of reinsurer balances.
- Track premiums, claims, recoverables, collateral and related cash movements.
- Support catastrophe bond and alternative risk transfer activity where applicable.
Reconciliations & Financial Control
- Perform detailed reconciliations across reinsurance ledgers, systems and source data.
- Investigate and resolve discrepancies across underwriting, claims and finance data.
- Manage aged debt and outstanding recoverables.
- Support month-end, quarter-end and year-end close processes.
- Maintain strong financial controls, governance and audit readiness.
- Ensure accurate data and reporting for internal control, audit and regulatory purposes.
Bordereaux, Data & Reporting
- Produce, validate and review premium, risk and claims bordereaux.
- Ensure accuracy and completeness of data for reporting, regulatory and Lloyd’s market requirements.
- Support audit, compliance and Lloyd’s reporting processes.
- Contribute to improvements in data quality, reporting processes and operational MI.
- Deliver portfolio, operational and performance reporting to internal stakeholders.
Operational Build & Systems Development
- Help lead the operational build-out of ceded reinsurance capability within the managing agency platform.
- Work with teams across the business to design scalable processes, workflows and controls.
- Support the development of proprietary systems for ceded reinsurance operations and broader portfolio management tools.
- Define business requirements and act as a key business stakeholder in system design, testing, implementation and adoption.
- Help reduce manual processes through automation and improved data workflows.
- Support the development of tools enabling improved exposure management, capital allocation, portfolio analytics and investor reporting.
Skills & Experience:
Technical Knowledge
- Lloyd’s and/or London Market operations and structures.
- Treaty and facultative reinsurance operations and management, including proportional and non-proportional structures.
- Ceded reinsurance accounting, recoveries and settlement processes.
- Claims recovery lifecycle and large loss handling.
- Bordereaux production, validation and reporting.
- Reinsurance systems development, process, workflow, technology and operational controls.
- Financial controls, reconciliation principles and audit requirements.
- Exposure management, portfolio reporting and analytics.
- Catastrophe bonds, ILS or alternative capital structures would be advantageous.