Risk Reinsurance Specialist

1 week ago

Kanpur, Uttar Pradesh, India beBeeAccounting Full time ₹ 9,00,000 - ₹ 11,50,000
Reinsurance Accounting Professional

This role is responsible for providing leadership on ceded reporting, including external reporting for regulators and reinsurers. It also involves supporting other ceded re administration activities.

The ideal candidate will have past experience of ceded re applications and processes, strong reporting and analytical skills, and relevant experience in collateral calculations and Cat Stop Loss Contracts is desirable.

Key Responsibilities:
  • Ceded Reinsurance Regulatory Reporting: Annual Cat and TRIA regulatory returns, Bermuda Cat regulatory returns, and AM Best ILS/ILW annual regulatory returns.
  • Ad Hoc Claim Responses: Netting down of large claims and reporting back of net position and associated reinsurance recoveries.
  • Collateral Management: Quarterly management of collateralized excess of loss placements, including establishing ultimate gross ceded losses to collateralized reinsurers, calculating ultimate reinsurance recoveries, and applying loss buffer weightings.
  • Stop Loss Contract Management: Management of key stop loss reinsurance contracts, including contract entry into policy administration system, quarterly assessment of ultimate loss values/ratios against reinsurance cover, and management of associated collateral.
  • Whole Account Quota Share Reporting: Preparing and managing quarterly reporting on ultimate Gross and Net view on Whole account Quota shares to various counterparties.
Duties Include:
  • Regulatory Reporting: Obtaining exposure and premium figures from available reinsurance system, reading through reinsurance contracts and recording Terrorism and other exposures.
  • Working with the ceded placement team in relation to review and sign-off of the above regulatory reports.
  • Ad Hoc 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.
  • Quarterly Management of Collateralized Excess of Loss Placements: Establishing ultimate gross ceded losses to collateralized reinsurers, calculating ultimate reinsurance recoveries, and applying loss buffer weightings as per outwards reinsurance contracts.
  • Preparing Collateral Release Documentation and Facilitating Relevant Sign-offs and Bank Call Back Procedures.
  • Maintaining Spreadsheet Containing Details of Released, Drawn Down and Remaining Collateral.
Support to Broader Offshore Team:
  • Assistance with Month End and Quarter End Processes, In Particular on the Quarterly QS Statements, Sending to Brokers and Arranging Payments.
  • Credit Control.
  • Calculation of XOL and Facultative Reinsurance Claims.
  • Support Various Project and Change Activities.
  • Attending Regular Team Meetings.
Key Required Skills:
  • 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.

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