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Fac. Technical Accountant
Ref. JO0000007061

Position Fac. Technical Accountant
Sector Reinsurance Technical
Location City of London, City
Type Permanent
Salary £40K / Annum
Reference JO0000007061
Summary Facultative Tech. Accountant

City of London

Salary to c£40,000

About the Company:

Leading Reinsurance Company worldwide, operating in over 120 countries, developing value added and innovative products and services and making long-term commitments to their clients, namely insurers and large corporations.

As an independent global reinsurance company, they aim to develop its Life and P&C business lines, to provide its clients with a broad range of innovative reinsurance solutions and to pursue an underwriting policy founded on profitability, supported by effective risk management and a prudent investment policy, in order to offer its clients an optimum level of security, to create value for its shareholders, and to contribute to the welfare and resilience of Society by helping to protect insureds against the risks they face.

About the Role:

With us, you will be a member of the team, reporting to the P&C Administration Technical Accounting Manager and will be providing support to various departments. You fulfil the processing and validation of the facultative premiums for London through Xchanging and direct from brokers. Predominately Marine and Non-Marine Insurance & Reinsurance with numerous risks containing multi-jurisdiction IPTs.

Majority of Business is London Market through Xchanging. Also, significant proportion of direct accounting from various International, European offices and the Syndicate.

Key duties and responsibilities:

* Check and process all technical accounts mainly via XIS

* Process all premiums including the calculation of relevant taxes (IPTs)

* Calculations of premiums, discounts and other commissions when the initial figure provided is not clear

* Review booked premiums against estimated premiums on a quarterly basis

* Control and processing of closings

* Review and resolve cases with unpaid premiums in conjunction with credit control team

* Liaise with Underwriters / Underwriting Assistants / Internal Brokers as necessary

* Contributes to the overall results of the company by accounting all premiums on time

* Enhances the Company image by efficient and pleasant relationships with clients


* Technical premiums processing experience including use of Xchanging systems

* Experience and knowledge of handling Global Programmes

* Tax (IPT and Levies) and Accounts knowledge

* Business includes Marine, PCR, EIL, Cyber, Property, FI, Liability, Power, Onshore and Offshore Energy

* Knowledge and ability to calculate IPTs and Levies in conjunction with Finance Dept.

* Good IT skills including Outlook, Word, Excel (Intermediate) and London Market Xchanging system

* Knowledge of Non-Proportional & Proportional Treaty, Binding Authority and MGA bordereaux processing would be an advantage.

* Knowledge of the Insurance and Reinsurance London market practices, codes of conduct and industry bodies

* Good communication skills for effective internal and external communication at all levels

* High degree of data entry accuracy

MW Appointments is acting as an Employment Agency in relation to this vacancy.
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