Job Detail - The Fidelis Partnership

Premium Management Analyst

Bermuda Permanent - Full Time

About Us

Fidelis MGU is a privately-owned, Bermuda-based Managing General Underwriter, which, through its subsidiaries, is a global underwriter of property, bespoke and specialty insurance and reinsurance products. Additional information regarding Fidelis MGU may be found at www.fidelismgu.com.

The Company currently writes lines of business including; specialty insurance: aviation & aerospace, energy, marine, property, terror & political violence, contingency and other specialty lines; reinsurance: property reinsurance, property retrocession, specialty reinsurance, whole account/multi-class and bespoke.

The Role

This role is an essential part of the Technical Operations Team, and the purpose of the role is to ensure that all premiums are chased, calculated, and recorded in an accurate and timely manner

Key Accountabilities

Bordereaux management
• Ensure the timeliness, accuracy, and completeness of data entry into the system of record for all the Fidelis Delegated Authority book of business including reviewing bordereau information, following up with brokers for outstanding bordereau (written and paid), and reconciliation of paid to written bordereau
• Review and resolve all errors and exceptions identified
• Manage all final adjustments and account closing advices checking against premium
instalments - with any discrepancies to be brought to the Underwriters’ attention
• Reconcile and match Xchanging entries to policy and premium entries booked
• Acquisition costs to be reviewed for differences between expected and received

Premium Review and Updates
• Check and book all premium adjustments
• Statutory premium reserve reviews and ensure that all reserves that have been retained are released
• Ensure all Quota Share premium statements are received on time
• Ensure all Aggregate Lineslip premiums are booked in Prequel before month end
• Review policies which contain a No Claims Bonus to identify whether any returns of the NCB are due
• Perform annual calculations of the profit commissions
• All Lineslips which contain zero booked premium after the expiry of the Lineslips should be reviewed
• Review policies which contain a Continuity Commission/bonus to identify whether any returns are due

Policy Reviews / Premium Status
• All policies to be reviewed in line with premium slip conditions to ensure that all premiumsare accurately booked and all endorsements for expected premium are captured

IPT Returns
• Responsible for the preparation of the IPT returns which are submitted to the Fiscal
Representatives
• Ensure all IPT returns are submitted before the required deadlines
• Ensure that any negative amounts are reported
• Import agreed paid IPT items into the Credit Control system

Skills & Experience

• A minimum of 3 years experience in an Operations team with a particular focus on PremiumManagement
• A practical understanding of Underwriting and policy administration systems;
• Basic competency in MS Office applications: Word and Adobe Standard required
• Advanced Outlook and Excel skills
• Demonstrated ability to master new concepts quickly, and take initiative with own personal development
• Ability to develop relationships with key stakeholders both internal and externally across the Company
• Must be able to self-lead and work effectively both independently and with teams;

• Demonstrated ability to deliver and manage accurate thoughtful detail-oriented work within tight deadlines

Other

FIDELIS MGU ETHOS

Our culture is defined by our ethos. It is the foundation of who we are and the core of everything we do.

Results – We want to be the best at the things we care about, so we focus on profitability over volume, with responsive decision-making and clear prioritised accountability.
Innovate – We aspire to lead the market in providing the services and products our clients need, and to drive change in the broader impact our industry has on human rights, society, and environmental sustainability.
Include – We create an environment where employees can bring their whole self to work, with open communication where everyone, irrespective of gender, ethnicity, sexual orientation or background, feels able to contribute ideas and be recognised and rewarded for their contribution
Unite – We operate as team of individual talents that actively seeks to reflect the diversity of the societies in which we operate, giving our business the widest range of inputs and perspectives.
Respond – We work in a business exposed to sudden shocks and changes – elemental, political, economic and human – so we remain nimble and ready for change.

DIVERSITY, EQUITY AND INCLUSION

Our vision is for a workplace culture where differences are valued and where diversity of background, experience and thought are welcomed. We want to create an environment where all employees, regardless of who they are, are given equal opportunities for career progression and enjoy fair reward from their and Fidelis MGU’s successes. This will be driven by a workforce that embraces Diversity and Inclusion at every level, in every department across Fidelis MGU.

We welcome applications from all qualified candidates. To ensure that all candidates have a fair opportunity to show their abilities during the recruitment process, adjustments may be required. If your physical or mental health or disability may necessitate an adjustment, please contact James.Lochrie@avenciaconsulting.com to discuss. All information relating to your health or disability will be treated in accordance with our data protection policy.

Apply by 30/09/2024

Reference: FID01147

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