Reinsurance Accountant

Posted 29 November 2023
Salary £100000 - £120000 per annum
LocationCity of London
Discipline Finance
Contact NameMark Brown

Job description

A leading London Market insurance business who have seen some significant growth over the recent years are looking for an experienced Reinsurance Accountant to join the Outwards Reinsurance team. This is a newly created role with a broad scope across the ceded reinsurance function to support in the management of ILS placements and third-party capital strategy, and to support an effective controls framework around all ceded reinsurance data held within reporting systems.

This role reports into the Reinsurance Operations Manager and will work alongside the reinsurance purchasers and operations technicians. You will assume a critical position within the team, working closely with underwriting, claims, actuarial, finance and exposure management, as well as liaising with brokers in respect of ILS placements.

  • Support in the renewals of ILS placements throughout the year by preparing roll-forward statements and financial plans for prospective deals
  • Prepare and distribute quarterly financial statements for each of the ILS deals, working with actuarial and exposure management to report actuals and forecast to ultimate positions
  • Calculate and report collateral positions for each deal and capital partner
  • Prepare all cash transactions in support of ILS placements, and provide statements to the operations team to post settlements into the underwriting system
  • Respond to ad hoc requests from brokers and ILS capital partners
  • Prepare and monitor analysis of ILS performance and returns
  • Support in the development of third-party capital strategy
  • Support in ensuring the consistency and quality of ceded reinsurance data around the business
  • Review and audit figures provided by / to the outwards reinsurance function, ensuring the integrity of the inputs / outputs used and provided by the team

The ideal candidate will be a qualified accountant (ACA/ACCA/CIMA) with experience of a reinsurance function of a non-life insurer. You will need to be proficient with outwards reinsurance software and comfortable working with large data sets. The role works with multiple senior stakeholders so good communication skills are paramount.