This role is designed to liaise closely with key internal and external stakeholders to ensure the completeness and accuracy of all Reinsurance premiums, claims and commissions, and related reporting, and to be the primary point of contact for treasury processes on a day to day basis.
* Monthly Review of Risk Excess of Loss (XL) Reinsurance Losses
* Prepare a Quarterly Reinsurance Risk (XL) Loss Update for our reinsurance managing agent (RMA)
* Prepare and circulate supporting documents for Risk XL collections
* Monitor, record and report the collection of Risk XL Recoveries
* Prepare and circulate Quota Share (QS) hard close figures following each Quarter End
* Prepare Quarterly Master QS Treaty Statements, XL Premium Letters, QS Treaty Letters and review the SUN ‘Transaction Report’ in line with the Quarterly Timetable
* Circulate documentation to RMA to support Quarterly Payment
* Monitor, record and report the Quarterly Payment and receipt of the funded collections
* Prepare supporting documentation for Annual XL Premium adjustments
* Assist with Reinsurance Audits – Internal / External as required
* Liaise closely with the Operations team
Treasury
* Import of payment runs from Sun GL (B4B) to Nat West Bank
* Settling payments in line with delegated authorities and monitoring/resolving outstanding invoices/statements
* Monitoring/chasing/resolving outstanding balances
* Receipts – banking and matching to debts
* Monitoring cash movements and balances
* Maintaining electronic bank link, in line with delegated authorities
Other
Assist in preparation and distribution of other financial operations team deliverables such as:
* Management accounts, dashboards and key performance/risk indicators
* Cash analysis and forecasts
* Levies
* Build and maintain effective working relationships with third parties and colleagues
* Ensure procedures and controls are documented and maintained.
* Undertake ad-hoc projects and tasks.
Knowledge and Experience
* Highly numerate and extremely detail-focused
* Willing to get to grips with the reinsurance contract programme as a whole, as well as the detail, and confident enough to ask questions when queries or issues arise.
* Commitment to tracking and resolving outstanding issues and queries
* Able to prioritise and plan to meet deadlines
* Effective problem-solving skills
* Team player with a committed, professional and positive attitude
Useful background and/or knowledge and experience:
* Desire to train as an accounting technician or accountant (AAT/CIMA/ACCA)
* Experience of general insurance finance.
* Knowledge of SUN/B4B/Q&A accounting software
* Previous company banking/treasury experience
Download the full job description and apply below:
Flood Re is a world first – a collaboration between government and the insurance industry that makes flood cover in household insurance policies more affordable.
You’ll be joining a team of talented individuals from a variety of backgrounds, working to deliver an increasingly important social purpose.
Find out more about our rewarding roles, supportive culture and comprehensive package here .
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