Insurance Technical Accountant - Retro - 2 Year Contract

SCOR Global Life
London, WC2N, GB
Closing date
30 May 2022

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Job Type
Full Time
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EMEA London United Kingdom (GB) | Insurance Technical Accountant - Retro - 2 Year Contract Fixed-Term Finance & Accounting About SCOR SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Using its experience and expertise, " The Art & Science of Risk ", SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk - in Life & Health insurance as well as in P&C insurance. Our 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. SCOR's aim, as an independent global reinsurance company, is to develop its Life and P&C business lines, to provide its clients with a broad range of innovative reinsurance solutions and to pursue an underwriting policy founded on profitability, supported by effective risk management and a prudent investment policy, in order to offer its clients an optimum level of security, to create value for its shareholders, and to contribute to the welfare and resilience of Society by helping to protect insureds against the risks they face. Job Summary The Technical Accountant will be a member of the wider P&C Administration community within the SCOR Group, reporting to the P&C Administration Technical Accounting Manager. The Technical Accountant is a member of a small service team providing support to various departments of the SCOR Group, in particular; SCOR UK, SCOR Europe and SCOR Channel The Technical Accountant fulfils the processing and validation of the SCOR P&C facultative premiums for London through Xchanging and direct from brokers. Predominately Marine and Non-Marine Insurance & Reinsurance with numerous risks containing multi-jurisdiction IPTs. In addition this role will also include the processing of all Retro premiums . Majority of Business is London Market through Xchanging. Also, significant proportion of direct accounting from various International, European offices and Channel Syndicate Key duties and responsibilities
• Check and process all technical accounting documents.
• Process all assumed and Retro premiums including the calculation of relevant taxes and premium allocation splits.
• Review booked premiums against estimated premiums on a quarterly basis
• Control and processing of closings and Debit Notes.
• Review and resolve cases with unpaid premiums in conjunction with credit control team
• Liaise with Underwriters ( SCOR and Channel Syndicate) as necessary
• Liaise with Underwriting Technical Assistants ( SCOR and Channel Syndicate) as necessary
• Liaise with Channel Internal Broker team as necessary
• Contributes to the overall results of the company by accounting all premiums on time
• Enhances the Company image by efficient and pleasant relationships with clients Contribute to process and quality improvement
• Work with colleagues and customers to continually seek ways of improving work methods and processes
• Gather, investigate and analyse relevant data via root cause problem solving to support and evaluate suggested improvements and/or modifications
• Agree, implement and evaluate improvements as necessary Delivering customer service
• Liaise with claims colleagues and other stakeholders to ensure the provision of an exemplary service to internal and external customers
• Gather relevant information from customers to determine requirements, improve service levels and enhance customer satisfaction
• Respond speedily and accurately to any requests or queries raised Contributing to team performance
• Develop and maintain productive working relationships with others
• Attend and contribute to team meetings
• Communicate constructively and openly to staff and management
• Agree and review work objectives with Technical Accounting Manager
• Demonstrate commitment for achieving team objectives and plan and adjust work activities accordingly
• Support others by providing advice, training and coaching where necessary
• Manage company resources responsibly and effectively Personal Development
• Plan and review own training, seeking support from others as required
• Take initiative to solve own training needs Required experience & competencies Experience:
• Several years experience working within insurance
• Experience of working in an Outwards R/I team .
• Experience of handling multi jurisdictional risks.
• Technical premiums processing experience including use of Xchanging systems
• Experience and knowledge of handling Global Programmes
• Tax (IPT and Levies) and Accounts knowledge
• Business includes Marine, PCR, EIL, Cyber, Property, FI, Liability, Power, Onshore and Offshore Energy
• Knowledge and ability to calculate IPTs and Levies in conjunction with Finance Dept.
• Excel use to intermediate level an advantage as high volumes of calculations required.
• Knowledge of Non-Proportional & Proportional Treaty, Binding Authority and MGA bordereaux processing would be an advantage.
• Knowledge of the Insurance and Reinsurance London market practices, codes of conduct and industry bodies Personal Competencies:
• Trustworthy, honest and high ethical and personal standards
• Good communication skills for effective internal and external communication at all levels
• Clear and appropriate written and oral communication skills
• Collaborative, teamwork attitude
• Good analytical skills
• Accepts responsibility
• High degree of data entry accuracy Digital Competencies :
• Good IT skills including Outlook, Word, Excel (Intermediate) and London Market Xchanging system Required Education
• A level or equivalent qualification or work-based experience
• CII qualified, working towards completion, or be willing to undertake exams if required Please contact your HR team should you have any question.
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