London United Kingdom (GB)
Technical Accountant (12 month contract)
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.
We now have a 12 month contract role available within our technical accounting team.
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.
The m ajority 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 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
Review and resolve cases with unpaid premiums in conjunction with credit control team
Liaise with Underwriters (EMEA SCOR and Channel Syndicate) as necessary
Liaise with Underwriting Technical Assistants (EMEA 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
Plan and review own training, seeking support from others as required
Take initiative to solve own training needs
Required experience & competencies
Extensive experience working within insurance
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
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
High degree of data entry accuracy
Good IT skills including Outlook, Word, Excel (Intermediate) and London Market Xchanging system
A level or equivalent qualification or work-based experience
CII qualified, working towards completion, or be willing to undertake exams if required
If you are interested in this position please send through your CV ensuring it outlines you experience and your relevant working rights in the UK.