Senior Ceded Reinsurance Operations Specialist

1 day ago


Noida, Uttar Pradesh, India EXL Full time
Job Description

We are seeking a highly skilled Senior Ceded Reinsurance Operations Specialist to join our team at EXL. As a key member of our operations team, you will play a crucial role in providing lead on ceded reporting, external reporting for regulators and reinsurers, and internal reporting.

The ideal candidate will have 12-16 years of experience in Insurance/Reinsurance operations, with 3+ years of team leading experience in Ceded Reinsurance. You should be proficient in Microsoft applications, particularly Excel, and have strong analytical skills.

Key Responsibilities:
  • Regulatory Reporting:
    • Prepare and submit annual Cat and TRIA Regulatory reports, including obtaining exposure and premium figures from available reinsurance systems.
    • Record Terrorism and other exposures by reading through reinsurance contracts.
    • Submit Bermuda Cat Regulatory returns, recording CAT cover provided in reinsurance contracts by territory.
    • Post limits available on ILS/ILW annual regulatory returns.
  • Ad Hoc Claim Responses:
    • Net down large claims and report back net position and associated reinsurance recoveries.
  • Collateralized Excess of Loss Placements:
    • Work with clients' reserving teams to establish ultimate gross ceded losses to collateralized reinsurers.
    • Calculate ultimate reinsurance recoveries and apply loss buffer weightings as per outwards reinsurance contracts.
    • Establish trapped collateral and attend quarterly Collateral committee meetings for sign-off.
    • Maintain spreadsheets containing details of released, drawn-down, and remaining collateral.
  • Stop Loss Contract Management:
    • Manage key stop loss reinsurance contracts, including contract entry into policy administration systems.
    • Quarterly assess ultimate loss values/ratios against reinsurance cover and manage associated collateral.
  • Whole Account Quota Share Reporting:
    • Prepare and manage quarterly reporting on ultimate Gross and Net views on Whole account Quota shares to various counterparties.
Requirements:
  • 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, particularly Excel.
  • Ability to read and interpret Reinsurance contract wordings.
  • Effective communication.

Estimated Salary: $120,000 - $180,000 per year, depending on experience and qualifications. This estimate is based on industry standards and location.



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