Group Proportional Reinsurance Accounting Technician

Purpose

Own the end-to-end proportional reinsurance accounting process, including accurate booking, reconciliation and reporting of premium and claim movements. Support month-end/quarter-end/year-end close, manage credit control, create and validate proportional BDXs, review processes, and provide support on other reinsurance accounting responsibilities.

Specific Responsibilities

Proportional Reinsurance Accounting (Premium & BDX)

• Prepare, validate and issue proportional premium BDXs (including manual preparation where required), ensuring data completeness, correct allocations/signings and timely distribution.
• Apply strong working knowledge of LOD and RAD basis BDXs.
• Record and reconcile proportional reinsurance premium movements in relevant systems/ledger.
• Manage proportional reinsurance accounting queries from brokers/reinsurers.
• Maintain robust controls and records for proportional BDXs and accounting entries.
• Monitor and resolve proportional reinsurance accounting exceptions.
• Identify and implement process improvements.
• Produce and maintain proportional reinsurance accounting MI.
• Provide proportional reinsurance accounting inputs for internal and Group reporting.
• Document and maintain proportional reinsurance accounting procedures.

Proportional Reinsurance Accounting (Claims & BDX)

• Prepare, validate and issue proportional claims BDXs (including reinstatement premiums).
• Understand and apply LOD and RAD basis requirements.
• Record and reconcile proportional reinsurance claim movements.
• Liaise with internal stakeholders, brokers and reinsurers to resolve queries.
• Process proportional claims transactions in relevant systems (e.g., LORS).
• Review and clear proportional reinsurance suspense/unallocated balances.
• Review proportional aged debt and open query positions.
• Support review of proportional technical provisions.
• Perform transactional review and reconciliation.

Proportional Reinsurance Close & Reconciliations

• Support month-end and year-end close for proportional reinsurance.
• Provide timely support to Finance and external/internal audit.
• Perform proportional reinsurance balance sheet substantiation.
• Undertake additional reinsurance accounting tasks as required.

Essential Skills & Requirements

• Sound Reinsurance experience
• Relevant Experience in a similar role within a Lloyds Syndicate & Company or Broker
• LIT (Lloyds Introductory Test) preferred.
• Computer literate
• Working knowledge of Microsoft Excel and Word.
• LORS understanding would be an advantage.
• Working knowledge of producing and reviewing LOD and RAD basis BDXs for proportional reinsurance.
• Numeric skills
• Able to work on own initiative as well as within a team.
• Good time management skills
• Be able to work to strict deadlines.

[Employer hidden] Way

At [Employer hidden — sign up to reveal], we believe our culture sets us apart. Straight-talking, Collaborative, Hard-working, Responsible, Positive.

• Straight-talking: We feel empowered to share thoughts and ideas.
• Collaborative: We work together towards common goals.
• Hard-working: We all have a stake in the company’s success.
• Responsible: We focus on achieving tangible results.
• Positive: We engage with brokers, clients, communities, stakeholders and colleagues professionally.

About [Employer hidden] Group

[Employer hidden — sign up to reveal] are a provider of global specialty insurance and reinsurance products operating in Bermuda, London, the U.S. and Australia. Focus on short-tail, specialty (re)insurance risks within Property and Casualty, Aviation, Energy and Marine, and Specialty.

Visit [Employer hidden — sign up to reveal] for more information.