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MW Appointments
,
London, Greater London
Reinsurance Treaty Processing
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Salary: £40,000 per annum |
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Overview
Technical Accountant (Treaty Processing) City of London Initial 12 month contract (likelihood of extension) Salary to £50,000 About the Company: One of the largest Reinsurance Company worldwide, following a profit-driven underwriting policy and practising selectively across all branches of reinsurance. The specialist teams operate in over 120 countries, developing value added and innovative products and services and making long-term commitments to their clients, namely insurers and large corporations. Job Summary To provide support services in respect of all aspects of treaty business by: Ensuring that all information captured on the underwriting ledger is accurate and reliable. Guarantees that all premiums are received and accounted on time Key duties and responsibilities Proportional Accounts Control of accounts, premiums, cash losses, deposits, Individual losses and outstanding Losses Receipt of accounts on time All accounts agreed and completed within seven days of receipt unless under query All deductions shown within the accounts are checked with the underwriting details on the system Signed line shown on first account are checked with written and signed line on the system Premiums are checked with underwriting details before confirming account and payment Cash losses are monitored and any cash losses not released on time are queried Deposits are monitored and any deposit not released on time are chased Liaise with Claims Department and ensure that individual losses advised to us are entered and updated regularly Any large increase in block outstanding losses is queried with the cedant / broker and loss details requested When all the accounts and reserves have been received for an accounting period of a treaty the complete account is confirmed on the system Proportional accounts received via LIRMA are validated in E-Proc All overdue accounts are chased All block outstanding losses are reviewed regularly and chased when overdue Assist Commutation Department on commutation of proportional treaties Ensuring all run off accounts are cut - off or run - off to natural expiry Monthly reports to management Any balance over £200,000 is checked by the Department Manager Booking of proportional account if applicable Non-Proportional Premiums Control of all premiums Receipt on time of M&D premiums, Adjustment Premiums and Reinstatement Premiums All minimum and deposit premiums are checked with the underwriting conditions Overdue adjustment premiums are chased Revised position of EGPI is advised to the underwriting department Reinstatement premiums are checked manually and any premiums overdue are chased Signed Line shown on the Minimum and deposit premium is checked with the written and signed line Error rate less than 3% on all entries Schemes of Arrangement and Liquidations Control of payments Submitting claim documentation Management of files Key Skills and experience: Technical Accounting experience in the London Market Knowledge of Reinsurance, Treaty, Claims, Exchanging, London market practices, codes of conduct and industry bodies MW Appointments is acting as an Employment Business in relation to this vacancy.