Purpose of Job
We are looking for talent who manages the operations of day-to-day Reinsurance services. As a team lead of Operation Team Reinsurance Broker, you will play a crucial role in ensuring the efficient functioning of daily operations.
Responsibilities
Billing & Reinsurance Closing
- Support the Head of Department in overseeing day-to-day operations of the Reinsurance team
- Ensure timely and accurate billing aligned with the reinsurance matrix submitted by placement brokers
- Monitor team performance in achieving planned revenue recognition targets
- Oversee the preparation and timely dispatch of reinsurance closings for reinsurers and debit notes for cedents in accordance with SOPs
Reinsurance Documentation
- Lead the team in maintaining high standards of documentation with zero tolerance for errors or omissions
- Supervise the accurate and timely preparation of key documents, including placement slips and addendums, as per SOP timelines
- Ensure completeness, clarity, and correctness across all documentation processes
Claims Management & Processing
- Manage departmental claim accounts, ensuring prompt closure within stipulated SOP timelines
- Guide the team in pursuing claim recoveries effectively, following established procedures
- Foster strong working relationships with claim personnel of cedents and reinsurers to support smooth and efficient recovery processes
Cedents & Markets Relationship Management
- Ensure quality service delivery to internal and external clients, minimizing complaints and ensuring satisfaction
- Strengthen partnerships with key cedents and reinsurers to streamline operational collaboration and enhance mutual efficiency
People Management
- Monitor the day-to-day operations of the unit and ensure clients insurance requirements and needs are handled efficiently and competently.
- Guide and monitor team members to improve their knowledge and skills
Others
- Actively participate in assigned training programs to stay updated and enhance operational capabilities
- Represent the department in meetings with cedents and reinsurers as needed
Compliance
- Ensure compliance with relevant company and/or group policies and procedures.
- Maintain accurate records and correspondence.
Representing the Company
- Perform any other reasonable duties as required.
Qualifications
- Diploma or bachelor's degree in accounting, business administration, finance, or related disciplines.
- Minimum 7 years of working experience within the insurance industry in relevant field.
- Preferably with experience in broking or reinsurance.
- Proven experience in supervising or leading a team within the insurance industry in relevant field.
- Professional insurance qualification is preferred, along with relevant knowledge of insurance principles, and practices.
- Proficiency in computer skills, specifically Microsoft Excel, Word, and PowerPoint.
- Excellent relationship-building and communication skills.
- Ability to work independently and collaboratively in a team environment.
- Attention to detail and compliance-oriented mindset.
- Proactive problem-solving skills.
