Function / Area: Reinsurance
Reporting to: Reinsurance Operations Manager
Position Summary
Recognised as an experienced reinsurance technical contributor across all reinsurance operational matters including the interpretation of reinsurance contracts. Provides technical input within the CNA Hardy Reinsurance function to help ensure that all post-placement reinsurance operational activities are conducted efficiently and accurately. Responsible for collaborating with reinsurance operations team members to support the smooth day to day running of key reinsurance operational processes. Collaborates with placement team and other areas of the business on all matters relating to reinsurance operations.
Key Responsibilities
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Specific responsibility for co-ordination of end to end process across all Excess of Loss Reinsurance.
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Involvement in reinsurance claims recovery processes for all reinsurance contract types. This includes collaboration on processes for identifying, monitoring, calculation, advice and collection of reinsurance claims, as well as period close processes for internal stakeholders (finance and reserving teams).
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Presentation of claims into the market through broker technical and placement channels, including investigating and resolving claims, to ensure recoveries are settled in a cost effective and timely manner. Coordinating and leading reinsurer claims meetings / file audits.
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Partners with the business and is recognized as an experienced technical contributor on reinsurance matters by underwriting, reserving, finance and claims departments. Collaborates with these areas to ensure appropriate application of reinsurance by these teams.
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Produces and presents management information regarding reinsurance operations to different internal and external stakeholders, including senior management. Makes recommendations on major process changes and strategies, including for optimizing recoveries in complex scenarios.
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Supports the Reinsurance Operational Manager in the support and mentorship of less experienced reinsurance technical staff. Provides technical reinsurance guidance and assistance to team members and to other functional areas. Acts as a technical reinsurance referral and peer review point within the team.
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Comply with all applicable legal and regulatory requirements and adhere to agreed procedures and controls to ensure this compliance.. Involvement in regulatory returns and those required for reinsurance Pools schemes.
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Entering and updating contract details in core systems (e.g. Subscribe, Senator and XLRAS).
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Collaborate with colleagues to ensure the efficient and effective co-ordination of reinsurance credit control and aged debt processes.
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Additional Reinsurance Technical duties when required, may include:
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Administration of message processing (LORS and USMs)
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Calculation and generation of premium adjustments
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Calculation of broker relationship dividends
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Involvement in projects to support the RI function, e.g. support of reinsurance technologies including reporting and system functionality/ implementation as required
Skills, Knowledge & Experience
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Understanding of Lloyd's and London market, with experience of working for both Lloyd's and non-Lloyd's platforms a bonus
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10+ years' experience in a ceded technical/operations reinsurance role
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Experienced and thorough understanding of principles and application of reinsurance
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Good working knowledge of Microsoft Office software and reinsurance systems (Subscribe, Senator and XLRAS a bonus); strong Microsoft Excel skills.
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Recognized as a technical expert and business partner across the organization
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Strong communication, negotiation and presentation skills. Ability to effectively interact with all levels internal and external business partners.
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Advanced analytical and problem solving skills, with the ability to manage and prioritize multiple projects.
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Ability to deal with ambiguous situations and issues.
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Ability to adapt to change and value diverse opinions and ideas.
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Appropriate knowledge of all relevant regulatory and legal requirements applicable to the position
Additional Information
Company Overview
CNA Hardy is a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets. We are part of CNA Financial Corp, the 8th largest U.S. commercial property and casualty insurance company. Established in 1897, CNA has approximately 7,000 employees, serving businesses and professionals in the U.S., Canada, Europe and Asia. We offer a wide range of products and services, providing a superior suite of insurance solutions that any organisation conducting business requires.
Why Choose CNA Hardy?
For us, the customer comes first.
Our winning proposition is our commitment to our customers: We offer more than just a policy – we deliver distinctive insurance solutions and we promise a superior customer service. How we deliver on this commitment is what sets us apart from the competition. Here are just some of the reasons you should choose us:
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Our people: We recognise that our staff bring our commitment to our customers to life. Our priority is to be a great place to work so we continue to attract, retain and develop the best talent in the market.
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Our product offering: We develop innovative and specialised solutions by product and industry specialism and create certainty for customers through the delivery of underwriting and service excellence. This comprehensive global product offering supported by superior claim and risk control services is hard to replicate.
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Our relationships: We believe in building enduring relationships and want to focus our energy on partnering with customers and producers who value our approach and seek the same.
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Our track record: Our financial strength underpins our contract with our customers. We receive consistently high ratings from AM Best and Standard and Poor’s proving our ability to deliver on our commitment should the worst happen.
Treating Customers Fairly
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We deal with our Customers in a professional, open and honest way at all times
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Designing and delivering products that meet their needs;
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Ensuring that no claims are unreasonably rejected; and
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Aiming to do things right the first time and putting them right if we get them wrong.
CNA Hardy is an equal opportunity employer.