Reinsurance Technician (m/f/d)
Munich Re Syndicate is currently searching for a motivated and hardworking Reinsurance Technician to join a collaborative team of specialists!
London , United Kingdom
Your role will be to take a proactive approach to the Syndicate’s reinsurance claims recoveries and premium payments, handling all reinsurance premiums and claims in a timely and efficient manner.
You will partner closely with the Claims and Underwriting teams and respond to Reinsurers’ queries promptly and accurately, and you'll build phenomenal relationships with Brokers.
Your role is imperative to ensuring all regulatory requirements are met.
Day to day, you will deal with all aspects of reinsurance purchased by the Syndicate;
- Assisting with quarterly Reinsurance close as per Syndicate’s Procedures Manual (Lloyd’s & Munich)
- Ensuring all relevant regulatory requirements (Lloyd’s, Munich Re and FCA/PRA) are met;
- Attending RI/ Claims/ Underwriting and broker meetings/discussions as required;
- Collating recovery statistics where requested;
- Assisting with the calculation and advice of premium adjustments as required;
- Keeping written records of all substantive conversations with brokers etc.; both internal and external, in accordance with the firm’s procedures manual;
- Assisting in the development of junior colleagues;
- Collating information for insurers’ and internal audits as and when required;
- Ensuring that company procedures and systems are followed and maintained, as per procedures and compliance manuals.
- Assisting with Reinsurance credit control in regard to Claim Recoveries.
- Being a driving force for good Conduct - enabling the business to deliver the best outcomes for customers / policyholders.
- Understanding all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC) , ExCo and Board for Conduct Risk.
You are required to comply with the PRA and FCA conduct rules:
- Acting with honesty and integrity at all times
- Acting at all times with due care, skill and diligence
- Being open and honest with the FCA, the Prudential Regulation Authority (PRA) and all UK regulators at all times
- Always paying due regard to the interests of customers and always treat them honestly and fairly
- Observing proper standards of market conduct at all times
It'd be great to understand more about your relevant London Market Reinsurance experience (both proportional and non-proportional treaty – claims and premiums).
Your good level of data analytics for internal and external reporting will make this role a huge success!
Team culture is important to us and we love to progress together: If you have an ability to efficiently train more junior members of the team with respect to the basic aspects of the RI processing, you'll fit in great with us!
We're looking forward to hearing about your regular use and full knowledge of the LORS system.
Your profileCompetencies for the Role
- Team orientation
Work cooperatively and flexibly with other members of the team with a full understanding of the role to be played as a team member.2. Communication
Communicate clearly and persuasively, both orally and in writing.3. Achievement/results-orientation
Get things done well and the ability to set and meet ambitious goals, create own measures of excellence and constantly seek ways of improving performance.4. Problem-solving
Analyse situations, diagnose problems, identify the key issues, establish and weigh up alternative courses of action and produce a logical, practical and acceptable solution.5. Flexibility
Adapt and work effectively in different situations and to carry out a variety of tasks.6. Customer focus
Take constant care in looking after the interests of external and internal customers. Ensure that their wants, needs and expectations are given due consideration and that all efforts are made to meet them wherever fair and reasonable, in line with any standards from an industry regulator.7. Planning and prioritising
The ability to decide on courses of action, ensure that the necessary resources are available and schedule the work required to achieve a defined result in a desirable manner.8. Share knowledge
Share knowledge about the role you perform fully and willingly with others, where this is relevant, in the interests of the organisation.9. Self-development
Take responsibility for your own career and actively support ‘continuing professional development’.10. Commercial/business awareness
The capacity to understand the business opportunities and priorities of the organisation and constantly seek methods of ensuring that the organisation continues to be business-like and continues to meet the standards and requirements of its regulators.
Education and Professional Qualifications Required / (preferred)
GCSE’s Maths/ English at high standard.
A Levels preferred but not Required.
Working towards CII.It skills:
- Keyboard skills
- MS Word - Intermediate
- MS Excel – Intermediate to Advanced
- MS Outlook
- MS PowerPoint - Intermediate
MRSG UK Services Limited is the employing entity for staff supporting the business activities of Munich Re Syndicate Limited (MRSL), Munich Re Specialty Group Limited (MRSG), Groves, John & Westrup Ltd (GJW), NMU (Specialty) Ltd (NMU) and Roanoke International Brokers Limited (RIBL).
As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Hong Kong, Singapore, Labuan and Dubai. We are also represented in Lloyd’s China.
Our group of companies provide solutions covering Casualty, Marine & Cargo, Energy & Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht.
Known for our dedication to excellence and quality of service provision, we pride ourselves on offering you a great place to work.
Munich Re’s employees are the backbone of the Group’s business success. They are the people that drive the business forward and develop new solutions for our clients.
Ensuring that we recruit talented staff is therefore crucial to our future success. Our objective is to make Munich Re the employer of choice for potential employees on the global job market..
To help us achieve this goal we offer a competitive salary and a generous and comprehensive benefits package which we regularly review in accordance with external market data, to ensure you are paid fairly and our benefits are tailored to suit your lifestyle. Creating an inclusive environment is a crucial part of the Munich Re culture and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.
Please Note: All applications must be received via the website. Any CVs received via email will not be considered.
Re_think, Re_engineer, Re_define, Re_invent, the boundaries of Insurance.
Once you hit apply, there is a short, 10 minute application form to complete. Please ensure you attach your current CV when applying and include details regarding your salary expectations. If you have a disability or special need that requires accommodation, please let us know.
Due to volume, we cannot always provide detailed feedback at CV stage.
Talent Acquisition, Diversity & Inclusion Specialist