Manager Retrocession Operations
UK
The FTC Manager Retrocession operations is responsible to assist the Senior Manager Retrocession Operations for overseeing Re Segment ceded for the delivery of technical operations (treaty/contract set, bdx preparation), technical accounting (BDX run, payment, recoveries) and regulatory reporting activities for Reinsurance segments for both Traditional reinsurance and ILS – Alternative Capital (e.g. E declare, CDCA).
The Retrocession operations manages a team of ca. 10 team members based in the UK (London) and India with interactions with other Ceded Re teams (Placements, S&A, Large & Complex Claims and Insurance Segment Operations) as well as other XL Re Functions (Finance, claims, IT).
The Manager Retrocession operations reports to the Senior Manager Retrocession Operations who is member of Ceded Re Operations leadership team.
DISCOVER your opportunity
Ceded Re Retrocession Operations team oversees accurate records of ceded reinsurance transactions (Treaties, ILS) for AXA XL Re segment covering notably generic processes over:
· Treaty / contracts Set up & ceded premiums payment: Lead and oversee the treaty / contracts set up process in the operating tool (Destiny) to ensure accuracy of set up and payment of ceded premiums on time as well as adjusted premiums (when applicable). Lead discussion with underwriters to understand and ensure accuracy of cession of assumed business;
· Bordereaux Issuance: Lead and oversee the bordereaux preparation and issuance to brokers and reinsurers as per contracts requirements.
· Claims Management: Oversee the correct booking of retroceded claims and ensure that reinsurers are notified on time as per contracts requirements.
· Credit Control and Cash Collection: Lead exchanges with Core Brokers or Reinsurers for Treaty credit control activities to coordinate credit control and cash collection process to ensure fast collection process and avoid bad debt provisions or write offs.
· Collaterals collection and management: Lead interaction with brokers and reinsurers for collaterals collection / withdrawals and management for collaterals falling under the responsibly of the Retro Operations teams.
· Financial Close: Lead financial close process for operations (accruals) with smooth and efficient interactions with finance team to ensure that all deliveries are delivered timely.
· Regulatory and Operational Reporting: Oversee the production and submission on time of regulatory reporting (e.g. e-Declare for Group) and all operational reporting required for operating (e.g. credit control, RI dashboard, …).
· Internal Control: Oversee the completion on time through smooth and efficient collaboration with Finance team notably of internal controls with evidence populated in SCALA when applicable.
SHARE your talent
We’re looking for someone who has these abilities and skills:
Required Skills and Abilities:
· Master Degree equivalent qualification;
· Extensive professional experience in reinsurance operations. Proven Reinsurance experience is essential for this role and previous experience of Ceded Reinsurance is highly beneficial.
· Fluent English (mandatory), French is a plus;
· Experience of the insurance/reinsurance sector with excellent understanding of finance and technical insurance accounting & reporting
· Required knowledge of Specialty, Professional, Property and Casualty Insurance and Reinsurance
Desired Skills and Abilities:
· Problem solving: through the ability to understand the issues, develop ideas and propose meaningful solution in a complex environment
· Communication and relationship management: ability to communicate clearly and forge constructive relations across the stakeholders
· Able to work collaboratively across a global, multicultural team and effectively coordinate with colleagues at all levels and time zones, to provide alignment, guidance and direction
· Shows a great ability to listen, understand and synthesize competing business demands and priorities
· Mental Agility: Innovative thinker, willing to turn ideas on their head
· Result focused: through drive, raising standards and ability to execute on time
· Able to work autonomously, be objective, rigorous and data-driven in their approach
· Is concerned with service quality and implementation / follow up
· Excellent attention to detail and a meticulous eye
FIND your future
AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it.
How? By combining 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 − property, casualty, professional, financial lines and specialty.
With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.
Learn more at axaxl.com
Inclusion & Diversity
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.
At AXA XL, we know that an inclusive culture and a diverse workforce enable business growth and are critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most diverse workforce possible, and create an inclusive culture where everyone can bring their full selves to work and can reach their highest potential. It’s about helping one another — and our business — to move forward and succeed.
- Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe
- Robust support for Flexible Working Arrangements
- Enhanced family friendly leave benefits
- Named to the Diversity Best Practices Index
- Signatory to the UK Women in Finance Charter
Learn more at axaxl.com/about-us/inclusion-and-diversity. AXA XL is an Equal Opportunity Employer.
Sustainability
At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called “Roots of resilience”, focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.
Our Pillars:
- Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society – are essential to our future. We’re committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
- Addressing climate change: The effects of a changing climate are far reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
- Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
- AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.
For more information, please see axaxl.com/sustainability
