Job Description
Sompo has a unique opportunity for a Senior Assumed Reinsurance Technician in our Assumed Reinsurance team.
This team works within the Reinsurance Operations team and deals mainly with (inwards) Proportional business. This position reports to the Assistant Vice President, Assumed Reinsurance Accounting Supervisor.
Location: This position will be based out of our London office. We strive for collaboration, which is why we offer a work environment where our employees thrive and develop long-lasting careers.
Our business, your impact, our opportunity:
What you’ll be doing:
Management of Inbox ensuring completion of tasks within agreed timeframes, liaising with other processing staff
Production and analysis of Weekly, Monthly & Quarterly reports as part of the close process, including identification of anomalies and resolution (where possible)
Collaborate with Internal and external clients to resolve queries or technical issues including Underwriters, Brokers, Cedants, Claims, IT, Operations, Finance and Credit Control
Ensure knowledge is kept up to date around new systems and procedures and provide training when requested
Collaboration with Claims Department on Inward Proportional treaty claims (inc event tracking)
Amendments to UW risks in system as directed such as adding sliding scale templates
Participation in projects to enhance systems and ongoing processes with a view to finding efficiencies where possible
Provide resolutions to processing queries raised by team members
Undertaking Technical analysis and processing responsibilities incorporating complex Inward Proportional & Non- Proportional treaties
Process tasks/ necessary accounts accurately in an efficient manner within agreed timeframes
Review & check accuracy of closings/documents of rendered accounts, cash calls, premium and loss reserve deposits; event claims management and tracking
Review Lead LIRMA agreements for query/agreement via Brokers
Demonstrate high level of attention to detail by producing exceptional quality and accurate technical data into the Underwriting system – ensuring the system is updated with accounting and payment information within agreed timeframes
Timely investigation and resolution of challenging accounts is expected
Collaboration with colleagues including participation in meetings when required
Providing requested documentation following Audit requests
Understanding of LOC/OCA process to include review and OCA processing where necessary.
Ad hoc tasks as directed by your manager
What you’ll bring:
Strong technical skills and ability to prioritize workload to meet deadlines
Understanding of general insurance and reinsurance principles is essential
Understanding & review profit commission/sliding scale calculations is essential
Understanding complex accounts such as clean-cut accounts (portfolio in and out) is essential
Experience of month end report checks is desirable
Experience of oversight/peer review is desirable
5+ years’ experience in a similar processing role within the Inward reinsurance market
Understanding of Proportional Treaty claim handling and event claims is essential
Good understanding of Bureau systems and procedures is desirable
Knowledge of Property, Casualty, and Marine business classes are desirable but not essential
Understanding of Genius and SAP Accounting system is desirable but not essential
Knowledge of Imageright is desirable but not essential
Excel skills at intermediate Level are essential (Pivot tables & VLOOKUP formula)
At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all…