Retrocession Senior Technical Accounting Specialist

AXA XL; London; On-site; GBP 100,000 - 125,000

Job description

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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 organisation including Actuarial, Senior Underwriting, Placement, Brokers, Reinsurers and Senior Management so excellent communication skills are essential along with experience.

DISCOVER your opportunity

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 Operation

SHARE your talent

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.

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