Role Title: Reinsurance Asset Handler
Division: Business Support
Location: London
Department: Reinsurance Asset Management
Type: Permanent
About the Department & Team:
The Reinsurance Asset Management team are responsible for all operational aspects of Outwards Reinsurance including treaty set up, recoveries, cash allocation, credit control, reporting, broker communications and reconciliations. The team works closely with outwards reinsurance, purchasing, Claims, Finance and other operations functions to ensure a coordinated approach throughout all associated activities.
Key Responsibilities:
- Identification and Calculation of Reinsurance Asset focused on Quota Share Reinsurance
- Calculation of premium and claim bordereaux to support the production of reinsurance accounts across company and syndicate business on complex global reinsurance contracts
- Complete the booking of premiums, profit commissions, sliding scale commissions and cash calls
- Assist and liaise with the credit control team
- Liaise with Finance Team, Claims Team, Brokers and clients to resolve queries.
- Assist with the delivery of KPI’s
- Review and update tracking tools
- Support the QS pillar head to collate data for internal and external audit and internal controls
- Other tasks within the QS Pillar and wider RAM Team as required
- Ability to contribute to Process improvement and process effectiveness.
Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.
Skills and Experience
- Ability to learn and adapt in a dynamic environment
- Good ceded Reinsurance knowledge
- London Market Company and Lloyd's Syndicate experience preferred
- Strong verbal and written communication skills, ability and confidence to challenge existing procedures and use of systems
- Strong computer skills - knowledge of Microsoft Excel Pivot Tables, V-Lookups, and MS PowerPoint preferred
- Understanding and use of AI functions.
About Liberty Specialty Markets (LSM)
Liberty Specialty Markets is part of Liberty Mutual Insurance Group, a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
Our people are key to our success. That is why “Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:
- Offering a vibrant and inclusive environment and committing to their career development.
- Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
- Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
- A supportive culture, which includes promoting a healthy work-life balance and working flexibly.
For more information, please follow the links below:
https://www.libertyspecialtymarkets.com/gb-en/careers/working-for-us
https://www.libertyspecialtymarkets.com/gb-en/careers/diversity-inclusion-wellbeing/diversity-and-inclusion
