Ceded Reinsurance Operations Manager
2 days ago
We are seeking an experienced Ceded Reinsurance Operations Manager to join our team at EXL. This role is responsible for providing lead on ceded reporting, including external reporting for regulators and reinsurers, as well as internal reporting. The successful candidate will also provide support for other ceded re administration activities.
Key Responsibilities:- Regulatory Reporting: Prepare and submit annual Cat and TRIA regulatory reports, including obtaining exposure and premium figures from available reinsurance systems. Also, record Terrorism and other exposures by reading through reinsurance contracts.
- Ad Hoc Claim Responses: Provide netting down of large claims, reporting back of net position, and any associated reinsurance recoveries arising from Facultative, Quota share, and Excess of loss reinsurance placements.
- Collateral Management: Manage collateralized excess of loss placements, working in conjunction with clients' reserving teams to establish Ultimate gross ceded losses to collateralized reinsurers, calculate subsequent ultimate reinsurance recoveries, apply loss buffer weightings, and attend quarterly Collateral committee meetings to obtain sign-off of collateral amounts to be released back to reinsurers.
- Stop Loss Contract Management: Manage key stop loss reinsurance contracts, including contract entry into policy administration systems, quarterly assessment of ultimate loss values/ratios against reinsurance cover, and management of associated collateral. Collaborate with clients' reserving teams to establish ultimate Ceded losses to stop loss contracts, attachment points, limit based on ULR, and periodic trapped collateral releases.
- Whole Account Quarterly Reporting: Prepare and manage quarterly reporting on ultimate Gross and Net view on Whole account Quota shares to various counterparties, collating information from Reserving, Finance, Operations, and narratives from business.
- Past experience of Ceded re applications and processes
- Strong reporting and analytical skills
- Relevant experience in Collateral calculations and Cat stop loss contracts is desirable
- Strong Microsoft applications skills, in particular Excel
- Ability to read and interpret Reinsurance contract wordings
- Effective communication
- Knowledge of Airtable is advantageous
- Ability to manage time and tasks in order to meet key deadlines and SLAs
EXL is a global company that provides operations management and analytics services. We pride ourselves on delivering high-quality solutions to our clients and fostering a collaborative work environment.
This role offers a competitive salary of $120,000 - $180,000 per annum, depending on experience. If you have the necessary skills and qualifications, we encourage you to apply for this exciting opportunity.
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