Retrocession Senior Technical Accounting Specialist

XL CATLIN; London; On-site; GBP 100,000 - 125,000; Full time

Job description

Job Description - Retrocession Senior Technical Accounting Specialist (12002639D20241213)

Job Number:

12002639D20241213

Retrocession Senior Technical Accounting Specialist

London, UK

This new position is part of the Retro Ceded Reinsurance Operations team based in London. The role will be responsible for administering all Retro Treaty Reinsurance business placed within Retro Ceded Re for AXA XL. This includes settlement of all Ceded Premium in line with AXA XL payment guidelines and the recovery of all Retro Ceded Recoveries processed within the AXA XL systems.

This role requires the individual to be responsible for the credit control of all balances including Bad & Aged debt Management. This will include globally placed Retro Treaty to assist with reduction of large and aged debt.

The individual will be required to develop and maintain relationships with all internal and external stakeholders and provide a high level of service and accuracy to all clients. Adhering to any bespoke requirements, so workload management and attention to detail is key.

The role requires the individual to have interactions with various areas within the organization including Actuarial, Senior Underwriting, Placement, Brokers, Reinsurers, and Senior Management so excellent communication skills are essential along with experience.

What will your essential responsibilities include?

1. Ensure that Credit Control is performed to a high standard to include attending regular meetings with internal and external parties.
2. Be responsible for the Credit Control of all outstanding balances including maintaining the input and timely bank reconciliation of cash receipts.
3. Responsibility for providing internal Credit Control reports in turn providing individual Broker/Reinsurer dashboards.
4. Attend regular meetings with Line Manager to effectively target and resolve aged debt issues.
5. Ensure a team approach is taken between Retro Tech Ops and Retro Tech Accounting towards all program business ensuring that settlement requirements are adhered to.
6. Assist in the co-ordination of historical ARAP backlog cleanup exercise, liaising where appropriate with both internal and external stakeholders.
7. Settlement of all Retro Ceded Premium in line with contract wording.
8. Recovery of all Retro Ceded Recoveries processed within the Retro Ceded systems.
9. Collection and disbursement of funds through internal transfer across AXA XL business units.
10. Interact with brokers and reinsurers to manage Letter of Credit collateral collection/withdrawal for collaterals that fall under the responsibility of Retro Ceded Re.
11. Regulatory reporting including Schedule F.
12. Support Audit (internal/external) requests.
13. Provide regular support and assistance to Line Manager.
14. Oversee and manage the team of Retrocession Technical Accounting Analysts both onshore and offshore, who contribute to various tasks such as credit control, reconciliation, billing process, and supporting audit requests.

You will report to – Senior Manager Retrocession Operations

We’re looking for someone who has these abilities and skills:

1. Experience in (re)insurance Industry within Credit Control
2. Knowledge of collateral management
3. PC Skills – Microsoft Word/Excel and Email essential
4. Accuracy and attention to detail are essential
5. Excellent communication skills are required
6. Ability to prioritize, multitask and work under pressure
7. Ability to work well on own and part of a team
8. Ability to self-motivate.

Location

London, UK

Job Field

Finance

Schedule

Full-time

Job Type

Standard

AXA XL is an Equal Opportunity Employer.