Reinsurance Accounting Credit Controller
Job Title: Reinsurance Accounting Credit Controller
Reporting to: Reinsurance Accounting Credit Control Manager
Direct Reports: N/A
Position Type: Fixed Term Contract (12 months)
Tokio Marine HCC?
Standing still is not an option in the current world of Insurance. TMHCC are one of the world’s leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.
The Reinsurance Accounting team is responsible for the post placement management and administration of the TMHCC International outwards reinsurance program. We engage with each Line of Business Underwriting team to understand their assumed portfolio and the reinsurance program purchased to enhance our service offering. We use our collective knowledge, experience and expertise to deliver value add service and proactive support on the handling and performance of each portfolio. Collaborative engagement with our external broker and carrier contacts enables the delivery of the contractual obligations and terms of trade by each party.
Establish RI Accounting as a key business partner across all Underwriting Line of Business and be accountable for managing trading relationships. Understand reinsurance contracts in outwards systems and monitor settlement of reinsurance premium to broker and carrier. Identification of reinsurance recoveries within reinsurance systems and facilitate cash collection and allocation, with consideration of Counterparty Management credit control opportunities. Program performance reporting with delivery of KPI metrics and engagement with key stakeholders, brokers, and clients across portfolio.
The successful candidate will be expected to understand and manage the needs of key stakeholders; Brokers/Reinsurers, Underwriting team and Group Finance then demonstrate reinsurance knowledge and organisational acumen in order to deliver upon the RI Accounting remit.
- Ownership and accountability for credit control and counterparty management oversight of broker and reinsurers to ensure portfolio performance.
- Review and evaluation of contract terms to ensure due dates are captured allowing timely recovery of reinsurance balances
- Manage and administer credit control opportunities across all reinsurance types purchased – facultative, proportional and non-proportional treaty.
- Liaise with RI Account Handlers, underwriting lines of business, claims, brokers and clients to resolve queries.
- Utilise broker and client meetings to drive cash collection discuss broker and client payment performance.
- Compliance with the Finance month/quarter/year-end deadline requirements
- Knowledge sharing of portfolio handling across Reinsurance accounting team to ensure business continuity.
- Supporting key departmental initiatives and projects such as change in core reinsurance systems, control and process enhancement and e admin development
- Aged Debt analysis to ensure reduction in > 90-day debt and prevention of further debt deterioration
- Portfolio analysis of reinsurer exposure, reinsurer and broker payment performance as well as program and line of business performance
- Delivery of team training on credit control and counterparty management practice and procedure
- Contribution to FP&A reporting adding insight and acumen to Reinsurance financials.
- Understanding of Reinsurance Accounting activity on ledger and P&L.
- Ad-hoc reporting as required for example assistance on Terrorism Pools information.
Skills and Experience Specification:
The successful candidate will require knowledge and experience gained through working for an Insurance/Reinsurance Syndicate, Company or Broker.
- Experience, knowledge and understanding of the Insurance/Reinsurance Market from a Lloyd’s, Company or broker market perspective
- Ability to learn and adapt in a dynamic environment
- Methodical approach to problem solving and decision making
- Customer focus and service mentality
- Self-motivated, can-do attitude and pro-active mindset
- Works well as part of a team and on individual tasks
- Focus on execution and timely delivery of quality outputs
- Strong verbal and written communication skills
- Strong computer skills - knowledge of Microsoft Excel Pivot Tables, V-Lookups, and MS PowerPoint
- Ability to influence and guide self and others to reach and maintain a Best in Class reinsurance team
- Work collaboratively across RI Accounting, Finance and key Underwriting stakeholders to achieve common goals.
What We Offer
The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals. The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies.
The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies.