To assist Polo Managing Agency (PMA) and its managed syndicates on providing Outwards Reinsurance services across all lines of business including but not limited to syndicate onboarding, oversight, reporting, governance reporting and regulatory returns.
Oversee the full reinsurance cycle for managed syndicates, from design to business-as-usual (“BAU”).
To liaise with existing and potential new clients to ensure rigorous oversight and approval of proposed outwards reinsurance arrangements.
To review and challenge proposed business plans for existing and potential clients to ensure plans are logical, realistic and achievable.
To review and challenge mid-year changes to existing business plans to ensure plans are logical, realistic and achievable.
Provide Managing Agency support for existing and potential clients in relation to their outwards reinsurance function.
Ensure that existing and potential clients have appropriate systems, procedures, and controls in place in order to manage its reinsurance-related responsibilities in line with Lloyd’s Principles Based Oversight framework.
Represent the Reinsurance team on committees internally and externally as required.
Ensure delivery of all required reporting, both personally and on behalf on the Reinsurance team, within the agreed timescales as defined in the applicable SLA.
Monitor syndicate performance against plan, including all aspects of the outwards reinsurance process.
Participate in liaison with stakeholders, including but not limited to, the Lloyd’s Outwards Reinsurance function, the PRA, FCA, Capital Providers, clients and Brokers, as required.
Where applicable, undertake the management of policy administration, loss review, recovery processing and reporting and counterparty monitoring.
Liaise with other Managing Agency functions as required, including finance, actuarial, claims, operations and Ml.
Submit, or assist in submission of, regulatory returns in relation to outwards reinsurance, including Lloyd’s SRS returns and QMA/B.
Attending market forums and committees as necessary.
All other reinsurance related tasks as may be reasonably required to undertake the role.
Solid experience in the Lloyd’s market within an outwards reinsurance related role.
Working knowledge of reinsurance operations, from design through to BAU.
Experience in filing Lloyd’s regulatory returns preferable.
Data analysis skills
IT Proficiency & Report preparation skills - Microsoft Word / Excel / PowerPoint etc.
Self-motivated and proactive.
Excellent written and verbal communication skills with strong interpersonal skills.
Highly numerate with strong analytical and problem-solving skills.
Ability to adapt to changing priorities and manage multiple deadlines.
Ability to work collaboratively with others and establish strong relationships both internally and externally.
As well as a competitive salary, discretionary annual bonus, and a minimum 26 days of annual leave (with the option to buy more), you will also get an excellent benefits package, including flexible, hybrid working, private health insurance, life assurance, income protection, enhanced pension contributions, and occupational maternity and paternity pay.
You will also have access to company volunteering days, an Electric Vehicle (EV) leasing scheme, an employee assistance programme with retail discounts and savings, a generous employee referral scheme and regular sports and social events.
PoloWorks is the leading provider of UK-based support services to the insurance market. We have built a strong reputation as dedicated and dependable experts in our field. We pride ourselves on our ability to be flexible, responsive, and knowledgeable.
As a leading service support company and turnkey managing agency, our clients choose us because our staff not only have the expertise but also a profound affinity with their business challenges. Our mission is to support, inspire, and develop the insurers of today and tomorrow.
Our clients, whether digital start-ups or well-established organisations, rely on the PoloWorks team to develop and strengthen their businesses. Our clients' goals are our goals. As such we design and deliver bespoke solutions to their specific business challenges.
Recognised as a Great Place to Work certified company and listed among the Best Workplaces in Financial Services & Insurance, PoloWorks is proud of its positive culture and commitment to its people. With offices in London and Cheltenham, PoloWorks has ambitious growth plans, offering exciting opportunities for anyone joining us on the next phase of our journey.
It's our mission to unleash the potential in every team, and we know that teams perform best when they are diverse and every team member feels that they belong. It is the unique contributions of all PoloWorks colleagues that drive our success, and we are committed to building an inclusive culture where everyone is empowered to do meaningful work and are recognised for their efforts. To that end, we are committed to providing an environment free of discrimination for everyone.
