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.