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Reinsurance Treaty Processing
Ref. JO0000007485

Position Reinsurance Treaty Processing
Sector Reinsurance Technical
Location City of London, City
Type Contract
Salary £40K - £50K / Annum
Reference JO0000007485
Summary Technical Accountant (Treaty Processing)

City of London

Initial 12 month contract (likelihood of extension)

Salary to £50,000

About the Company:

One of the largest Reinsurance Company worldwide, following a profit-driven underwriting policy and practising selectively across all branches of reinsurance. The specialist teams operate 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.

Job Summary

To provide support services in respect of all aspects of treaty business by:

Ensuring that all information captured on the underwriting ledger is accurate and reliable.

Guarantees that all premiums are received and accounted on time

Key duties and responsibilities

Proportional Accounts

* Control of accounts, premiums, cash losses, deposits, Individual losses and outstanding Losses

* Receipt of accounts on time

* All accounts agreed and completed within seven days of receipt unless under query

* All deductions shown within the accounts are checked with the underwriting details on the system

* Signed line shown on first account are checked with written and signed line on the system

* Premiums are checked with underwriting details before confirming account and payment

* Cash losses are monitored and any cash losses not released on time are queried

* Deposits are monitored and any deposit not released on time are chased

* Liaise with Claims Department and ensure that individual losses advised to us are entered and updated regularly

* Any large increase in block outstanding losses is queried with the cedant / broker and loss details requested

* When all the accounts and reserves have been received for an accounting period of a treaty the complete account is confirmed on the system

* Proportional accounts received via LIRMA are validated in E-Proc

* All overdue accounts are chased

* All block outstanding losses are reviewed regularly and chased when overdue

* Assist Commutation Department on commutation of proportional treaties

* Ensuring all run off accounts are cut - off or run - off to natural expiry

* Monthly reports to management

* Any balance over £200,000 is checked by the Department Manager

* Booking of proportional account if applicable

Non-Proportional Premiums

* Control of all premiums

* Receipt on time of M&D premiums, Adjustment Premiums and Reinstatement Premiums

* All minimum and deposit premiums are checked with the underwriting conditions

* Overdue adjustment premiums are chased

* Revised position of EGPI is advised to the underwriting department

* Reinstatement premiums are checked manually and any premiums overdue are chased

* Signed Line shown on the Minimum and deposit premium is checked with the written and signed line

* Error rate less than 3% on all entries

Schemes of Arrangement and Liquidations

* Control of payments

* Submitting claim documentation

* Management of files

Key Skills and experience:

* Technical Accounting experience in the London Market

* Knowledge of Reinsurance, Treaty, Claims, Exchanging, London market practices, codes of conduct and industry bodies

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