Reinsurance Data Analyst

Operations Overview

The Operations division is an integral part of the independent control and support structure whose key mandate is to establish and maintain an effective control environment. Robust control and risk management drives our Business.

Operations strategy is underpinned by 3 guiding principles - Payments, Policyholders and Data Management. These 3 principles drive our processes and controls, and are essential for reputation, risk/capital management, and TPA management.

In addition, Operations provides solutions to new structures, monitors contractual and regulatory obligations and creates efficient and cost saving processes. It is also a member experience unit providing best-in-class policyholder service, client management and TPA management.

General activities of the operations team include:

         Act as an independent control over transactions of the Business

         Trade capture and risk mitigation to ensure bookings are an accurate reflection of business risk

         Execution and management of lifecycle events

         Support of project teams in department-wide initiatives

         Development of technology infrastructure to support the risk management and processing capabilities of transactions

 

The Rothesay Life Reinsurance Project Team ensures all legacy and new reinsurance activity is appropriately implemented onto the new in-house reinsurance system.  Reinsurance trades have varying structures and complexities, and therefore implementing these deals through to a BAU process involves a tailored approach taking into account best practices and standard procedures.

This role will suit a person who is a self-starter, creative with process, confident in managing projects to strict deadlines, confident in communicating with a range of internal and external stakeholders, who can work independently as well as being part of a small team, and who is able to communicate effectively and demonstrate initiative. It is key that the candidate understands the role that Operations plays in a financial services firm such that they can ensure processes implemented fit in with the wider scope of the team. The analyst role requires a high level of skill in data manipulation and analysis off-system (using large Excel spreadsheets) so it is important that the candidate can demonstrate project work based on analysing and summarising data using excel. The candidate must possess an analytical mind-set where they are able to formulate processes that achieve project goals, while also maintaining a controls mind-set.

The position available gives the candidate a lot of autonomy and it is important that they are driven to deliver against targets whilst managing time and expectations independently.  The role would ideally suit a candidate with 1-2 years’ work experience in the pensions/reinsurance de-risking sector, but is potentially also suitable for a candidate with an Operations/Technology background coming from an investment bank or other financial services company.

 

Responsibilities:

         Performing large data reconciliations and following through the query resolution process in order to facilitate the implementation of reinsurance contracts

         Contribute to the CRM function for our growing list of reinsurance counterparties, attending client meetings and leading conference calls to maintain dialogue around managing client expectations in terms of timelines and outputs expected

         Ensuring all internal operational processes are set up and handed over to the BAU Team including any collateral provisions

         Continuously improving and documenting implementation ‘best practices’ with a view to standardising procedures as much as possible

         Analysts will be expected to take ownership across multiple reinsurance contracts at the same time in a fast paced environment

         Managing stakeholders such as Ops, Pricing and Strats to ensure a smooth implementation process.

 

Skills & Experience:

 

Required:

=         Minimum 2:1 in a degree from a leading university (please note strong candidates with exceptional work experience will also be considered should the degree criteria not be met)

=         Strong Excel skills - experience of manipulating large data sets. Candidate should show an interest in project work focussed around data migration and implementation

=         Ability to multi-task effectively and monitor deliverables and deadlines

=         Ability to communicate effectively and confidently with external and internal stakeholders

=         Understanding of risk controls in an operational environment

=         Accuracy and absolute attention to detail

=         Can demonstrate problem solving ability and considered decision making

=         Ability to summarise and communicate complex data queries

=         Desire to work as part of team in a collaborative environment

=         Motivation to deliver above and beyond core functions

Preferred:

=         Strong MS Excel / VBA skills

=         Some pensions, insurance and/or reinsurance knowledge

=         Strong communication skills to clearly articulate status and issues to others

=         Understanding of risk controls in an operational environment, including knowledge of RCSAs

Competencies

 

=         Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills

=         Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks

=         Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions

=         Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others

=         Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives.  Sees the big picture and effectively analyses complex issues

=         Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value

=         Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions.  Takes a position on issues and influences others' opinions and presents persuasive recommendations

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