Job Title: Senior Reinsurance Account Handler

Position Type: Permanent, full time. Hybrid (3 days in office)

Location: London, UK

Overview:

Why Tokio Marine HCC?

Standing still is not an option in the current world of Insurance. TMHCC are one of the world’s leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.

The Reinsurance Accounting team is responsible for the post placement management and administration of the TMHCC International outwards reinsurance program. We engage with each Line of Business Underwriting team to understand their assumed portfolio and the reinsurance program purchased to enhance our service offering. We use our collective knowledge, experience and expertise to deliver value add service and proactive support on the handling and performance of each portfolio. Collaborative engagement with our external broker and carrier contacts enables the delivery of the contractual obligations and terms of trade by each party.

Job Purpose:

The successful candidate will be expected to understand and manage the needs of key stakeholders; Brokers/Reinsurers, Underwriting team and Group finance then demonstrate reinsurance knowledge and organisational acumen in order to deliver upon the RI Accounting remit.

Key Responsibilities:

Ownership and accountability for Line of business, broker and reinsurers to ensure portfolio performance across end-to-end processReview and evaluation of Evidence of Cover and contract wording administration ensuring all major clauses includedContract capture for all reinsurance types purchased – facultative, proportional and non-proportional treaty into RI Accounting team reinsurance system XLPro, Workflow (ImageRight) and Exposure Aggregation (Exact) systems.Timely booking and payment of reinsurance premium in accordance with contractual termsIdentification and Calculation of reinsurance asset and booking into source systems through monthly close processEvaluation of line of business gross to net to ensure in line with RI Accounting and Line of Business expectationsIssuance and monitoring of reinsurance claim collection notes as per contract terms and conditions for Non proportional, facultative, and proportional covers Review Large Loss Reports and prepare Risk and Claim documentation to support reinsurance submissionsEvaluation of actual vs estimated premium throughout life of contract to evaluate potential Premium Adjustments, Profit Commission & No Claims Bonus or Loss AP’sHandle the reinsurance recoveries including query resolution and pro-actively manage applicable bad debt reserves Liaise with Credit Control, underwriting lines of business, claims, brokers and clients to resolve queriesEstablish and coordinate Client and broker meetings to support our understanding of external stakeholder needs and expectations whilst driving issue resolution and cash collectionMonthly reporting into Group Finance and back to underwriting team to seek agreement and understanding of all material movementsDrive with delivery of KPI’s, analytical review and interpretation of month and quarter end results for all aspects of the ceded P&L for International and London market business across all lines of business and trading partnersCompliance with the Finance month/quarter/year-end deadline requirementsKnowledge sharing of portfolio handling across Reinsurance accounting team to ensure business continuity Delivery of team training on Insurance and Reinsurance practice and procedureReview and evaluation of Reinsurance data to identify commutation targets to close burdensome portfolio’s, leverage complex claim issue resolution and monitor aggregate exposure with reinsurersSupporting and leading key departmental initiatives and projects such as change in core reinsurance systems, control and process enhancement and e admin development

Skills and Experience Specification:

Experience, knowledge and In-depth understanding of the Insurance/Reinsurance Market from a Lloyd’s, Company or broker market perspectiveAbility to learn and adapt in a dynamic environmentCapable of applying knowledge and experience in different situationsMethodical approach to problem solving and decision makingCustomer focus and service mentalitySelf-motivated, can-do attitude and pro-active mindsetWorks well as part of a team and on individual tasksAbility to influence and guide self and others to reach and maintain a Best in Class reinsurance teamFocus on execution and timely delivery of quality outputsStrong verbal and written communication skills, ability and confidence to challenge existing procedures & use of systemStrong computer skills - knowledge of Microsoft Excel Pivot Tables, V-Lookups, and MS PowerPointWork collaboratively across RI Accounting, Finance and key Underwriting stakeholders to achieve common goalsSupport development of team members through acting as positive role model

What We Offer

 The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals.

The Tokio Marine HCC Group of companies is an equal opportunity employer.  Please visit www.tmhcc.com for more information about our companies.

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