Job Description - Retrocession Senior Technical Operations Specialist
Job Number:
12002638D20241213 Location:
London Ceded Reinsurance is a strategic function within AXA XL in charge of defining and implementing the reinsurance strategy as well as administrating all reinsurance treaties through their lifecycle. Ceded Re is part of the AXA XL Risk Management function, the AXA XL Chief Risk Officer being a member of AXA XL Leadership team. The Retro Ceded Re Operations team is responsible for the administration of all Retro Treaty Reinsurance business placed within AXA XL. Retro Ceded Re Operations is composed of 2 key areas: Technical Operations and Technical Accounting. Job Responsibilities
The individual will be required to: Oversee the treaty/contract setup process to ensure accurate setup and payment of ceded premiums for both QS and XOL programs. Oversee the preparation and issuance of bordereau to brokers and reinsurers as per contract requirements. Monitor inward claim movements to identify and apply where retro ceded recoveries can be made. Calculate and apply retro ceded recoveries in the Ceded Claims System for XOL programs and ensure that reinsurers are notified on time as per contract requirements. Manage the internal control framework for Retro Ceded Re key controls for both Technical Operations and Technical Accounting and ensure they are completed on time. Assist in internal audit and external audit with requests and provide evidences. Partner with our brokers to manage settlement queries and sanction-related issues. Build close relationships with internal stakeholders and colleagues in Claims, Underwriting, Finance, and Actuarial. Support Ceded Re transformation journey, actively participating in projects which aim to drive efficiency, reviewing processes and suggesting improvements where appropriate. Ensure all contractual reporting requirements are met and reviewed. Work closely with the Technical Accounting team to support the credit control process and improve cash flow. Attend regular meetings with Ceded Placement Officers to understand new placements and ensure understanding of how placements for various lines of business interact. Reporting Line
You will report to – Senior Manager Retrocession Operations Required Skills and Abilities
Significant professional experience in reinsurance operations. Experience in reinsurance finance and technical accounting and reporting. Knowledge of various forms of reinsurance, specifically QS and XOL. Excellent written and oral communication skills. Proven efficiency in ability to multitask, with attention to detail. Proficient in Microsoft Office (Excel, Word, PowerPoint). Knowledge of SQL is preferred. Excellent research and analytical skills, robust financial reconciliation skills. Display excellent customer relation skills, as well as result-driven. Ability to prioritize, multitask and work under pressure. Ability to work well both independently and as part of a team. Ability to self-motivate. AXA XL
is known for solving complex risks. For mid-sized companies, multinationals, and some inspirational individuals, we don’t just provide re/insurance; we reinvent it. We combine a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business. AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic. AXA XL is an Equal Opportunity Employer.
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12002638D20241213 Location:
London Ceded Reinsurance is a strategic function within AXA XL in charge of defining and implementing the reinsurance strategy as well as administrating all reinsurance treaties through their lifecycle. Ceded Re is part of the AXA XL Risk Management function, the AXA XL Chief Risk Officer being a member of AXA XL Leadership team. The Retro Ceded Re Operations team is responsible for the administration of all Retro Treaty Reinsurance business placed within AXA XL. Retro Ceded Re Operations is composed of 2 key areas: Technical Operations and Technical Accounting. Job Responsibilities
The individual will be required to: Oversee the treaty/contract setup process to ensure accurate setup and payment of ceded premiums for both QS and XOL programs. Oversee the preparation and issuance of bordereau to brokers and reinsurers as per contract requirements. Monitor inward claim movements to identify and apply where retro ceded recoveries can be made. Calculate and apply retro ceded recoveries in the Ceded Claims System for XOL programs and ensure that reinsurers are notified on time as per contract requirements. Manage the internal control framework for Retro Ceded Re key controls for both Technical Operations and Technical Accounting and ensure they are completed on time. Assist in internal audit and external audit with requests and provide evidences. Partner with our brokers to manage settlement queries and sanction-related issues. Build close relationships with internal stakeholders and colleagues in Claims, Underwriting, Finance, and Actuarial. Support Ceded Re transformation journey, actively participating in projects which aim to drive efficiency, reviewing processes and suggesting improvements where appropriate. Ensure all contractual reporting requirements are met and reviewed. Work closely with the Technical Accounting team to support the credit control process and improve cash flow. Attend regular meetings with Ceded Placement Officers to understand new placements and ensure understanding of how placements for various lines of business interact. Reporting Line
You will report to – Senior Manager Retrocession Operations Required Skills and Abilities
Significant professional experience in reinsurance operations. Experience in reinsurance finance and technical accounting and reporting. Knowledge of various forms of reinsurance, specifically QS and XOL. Excellent written and oral communication skills. Proven efficiency in ability to multitask, with attention to detail. Proficient in Microsoft Office (Excel, Word, PowerPoint). Knowledge of SQL is preferred. Excellent research and analytical skills, robust financial reconciliation skills. Display excellent customer relation skills, as well as result-driven. Ability to prioritize, multitask and work under pressure. Ability to work well both independently and as part of a team. Ability to self-motivate. AXA XL
is known for solving complex risks. For mid-sized companies, multinationals, and some inspirational individuals, we don’t just provide re/insurance; we reinvent it. We combine a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business. AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic. AXA XL is an Equal Opportunity Employer.
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