Reinsurance Technician

Job Responsibilities & Competence

XOL Administrative Support: Provide administrative support to the reinsurance team, including maintaining daily / monthly processing tasks such as:

• Performs basic to moderately difficult calculations, accountings, reconciliations, and reporting. Identifies and investigates out-of-balance transactions. Actively manages the resolution of basic correspondence and assigned reinsurance balances.
• Leverages proficiency in technical/functional skills to execute all basic reporting, collection, correspondence, and financial transactions appropriately with consistent adherence to reinsurance practices and protocols.
• Develops and maintains productive working relationships with both internal and external partners including Brokers, Reinsurers, Cedents, Legal, Accounting, Actuarial, Direct Claims, Underwriting, Operations, vendors and/or IT, in order to achieve the most favorable outcomes.
• Daily review and administration of SCM movements
• Work with Claim Ops to ensure accurate Event Coding
• Perform Outwards Reinsurance data collection, premium payment processing, claim notifications, and recovery documentation.
• Responsible for inventory of reinsurance treaties and document reinsurance conditions. Review Reinsurance slips, premium allocations, and cover notes issued by brokers and reinsurers.
• Update Outwards Reinsurance Policy documentation as needed.
• Participates in process improvement initiatives as part of a team. Maintains workflow and reference documentation.
• Identify potential risks related to reinsurance activities.
• Review and analysis of monthly claim bordereaux
• Calculate and issue Syndicate loss numbers for any shared loss.
• Maintain static claim register – provide periodic updates to RI / Broker
• Review monthly reports to identify any potential new recoverable losses.
• Review the minor currency losses that fall below the SCM thresholds.
• Maintain Credit Control files to assist with Management Reporting and improve timeliness of debtor recovery.
• Perform credit control on outwards RI collections.