Ceded Operations Process, Controls and Change Support

Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully-tailored solutions.

We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism.

Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded.

The work pattern for this job is Hybrid 

The minimum and maximum salaries for this job role are below:

Minimum Salary - 128,000.00  

Maximum Salary - 160,000.00  

The Role

Ceded Reinsurance Operations is a global Aspen function accountable for all post-placement processing, control, analysis and financial reporting of Aspen’s treaty and facultative Ceded Reinsurance placements, across all business segments and platforms. This role is responsible for supporting the process and controls environment for both Ceded Operations and Accounting functions. This role will assist in developing processes and controls relating to the Ceded function, increasing awareness of controls, helping business leaders improve control documentation, and liaise with internal and external auditors ensuring a successful audit result. This role also supports the Ceded Operations Change function to best facilitate the achievement of business objectives, by identifying and implementing relevant and timely high quality, resilient, end-to-end solutions, aligned to an effective control environment. This role will also work closely with the Internal Controls Over Financial Reporting (ICOFR) team to ensure Ceded controls adhere to company and SOX standards, as well as work with Aspen’s Risk department to mitigate operational and financial risks.  Our Aspen Values are expected to be reflected in the delivery and performance of every role.

Key Accountabilities

• Contributes to functional strategy development and prioritises operational deliverables and activities of team to support delivery of overall business targets.
• Supports the Process, Controls and Change Manager in delivering strategic objectives relating to the provision of enhanced Ceded reinsurance processing.
• Manages tactical plan and provides support to others to achieve positive results for the business in line with strategy.
• Applies specific expertise to manage processes and workflow within the team, and is responsible for ensuring accuracy, efficiency, good practice and adherence to prescribed standards.
• As a senior technical expert, is responsible for executing high value/highly complex transactions (making decisions within authority limits) to ensure that they are appropriately completed and that related records and systems are properly maintained.
• Interprets, and helps to cascade organisation goals and regulatory/legislative requirements; and is responsible for monitoring functional activity, and application of Policy and Procedures, to ensure that compliance, effectiveness and risk management is optimised.
• Management of operational and accounting processes and controls to a level that satisfies the requirements of all key stakeholders including Group, Segment, Platform and Regulatory Finance teams, as well as Actuarial and Capital Modelling.
• Compliance with operational risk policy - ensure operational risks associated with the external audit process are analysed and managed.
• Assist in the development, implementation, and maintenance of quarterly SOX controls, ensuring the team’s processes are compliant and the control environment is robust and up to date.
• Continual improvement of processes to increase effectiveness and efficiency.
• Assist in the delivery of risk assessments based on qualitative and quantitative factors to determine the annual SOX scope, including key systems.
• Liaise with internal/external auditors on the coordination of annual controls testing plan, including control testing, key reports, automated controls and SOC report review.
• As a senior technical expert and designated point contact for others within the function, is proactive in providing advice and guidance to colleagues, making appropriate decisions and promoting improved understanding of functional needs and standards.
• Develops strong relationships with internal and external stakeholders to ensure that service delivery meets customer/colleague expectations.
• Networks with relevant colleagues across the organisation to share best practice and to identify optimal service delivery options within the function.
• Builds upon broad awareness of their market context, industry best practice and headline legislation related to their specific discipline, by engaging with external peers, to enhance personal contribution to functional performance.
• Actively participate in relevant internal and external meetings as required to develop and demonstrate knowledge of Aspen and its processes.
• As a senior technical expert will represent the function by providing support and technical input to project teams and other areas of Aspen to ensure solutions take account of functional needs.
• Support the process and controls environment for both Ceded Operations and Accounting functions including systems.
• Liaison with internal and external audit on Ceded reinsurance matters and resolve queries in a timely manner.
• Develop processes and controls relating to the Ceded function, increase awareness of controls, help business leaders improve control documentation, and liaise with internal and external auditors ensuring a successful audit result.
• Ensure that Finance policies, including those over controls, are implemented and monitored and in compliance on an ongoing basis.
• Work closely with Internal Controls Over Financial Reporting (ICOFR) team to ensure Ceded controls adhere to company and SOX standards.
• Work with Aspen’s Risk and compliance departments to mitigate operational and financial risks.
• Provide support and technical oversight, as appropriate, to members of the Ceded Reinsurance Operations team, enabling reciprocal flow of knowledge across the end-to-end process.
• Support the successful pursuance and procurement of Ceded Reinsurance system solutions that align with the strategic plan and business goals.
• Supports the process for high value/complicated tender requirements to ensure that the best value is achieved to meet strategic requirements and best practice.
• Supports the technical quality, processing and data management of Ceded Reinsurance transactions, recommending and implementing enhancements that meet user needs and deliver critical business delivery.
• Supports the Process, Controls and Change Manager in ad hoc analytical work, in addition to answering queries related to Ceded Reinsurance.
• Operate as an effective team member by supporting colleagues and contributing to the delivery and achievement of overall team and business objectives.

Knowledge, Skills, & Experience

• Extensive knowledge, and technical understanding of how Aspen's underwriting/reinsurance strategy translates into operational targets for region/area of responsibility.
• Strong knowledge of business and market developments, including risks and key players.
• Extensive knowledge and understanding of business, operations and service functions across Aspen.
• Strong working knowledge of core technical principles and concepts related to the role and how to apply them.
• Good awareness of Target Operating Model design and Third-Party Business Process Operations (BPO) contract structure and provisions.
• Extensive knowledge of relevant systems, processes etc, and how technology can be leveraged to improve performance.
• Expert knowledge of data manipulation and data analytics.
• Technical expertise and knowledge in relation to legal and regulatory requirements (specific reference to FCA/Lloyd’s regulation).
• Technical acumen and skilled in using relevant technology applications and systems.
• Able to take an innovative approach to develop new ideas.
• Strong financial and resource management skills.
• Skilled in balancing a long-term view with detail and immediate realities.
• Able to navigate detailed reports and summarise key information.
• Significant post-qualification work experience in relevant technical/underwriting/(re)insurance or other role within a specialised/complex area.
• Experience of providing support to strategic business planning activities and developing plans to enhance business profitability.
• Experience of influencing and managing stakeholders at all levels.
• Experience of the full lifecycle of supplier management from procurement through to operational governance and leadership.
• Experience of working within a regulated environment.
• Experience of complaint handling in the UK insurance market (e.g. Lloyds of London Syndicate Market).
• Strong experience of risk management and/or compliance including effective case management.
• Experience of applying change management methodologies or tools.
• Experience of providing analysis/MI to senior teams and relevant external agencies.
• Experience of managing individuals/teams with relevant subject matter expertise.
• Is experienced in resolving complex queries for area of responsibility.
• Degree level education (or equivalent) and relevance of degree subject to role is expected.
• Has gained professional or technical qualifications/certification that are specific to personal discipline e.g. ACII, (or equivalent), Accountancy qualifications, ITIL certification, Lean Practitioner/Blackbelt /Six Sigma.

At Aspen we know that having a diverse and inclusive workforce is good for our people, good for our business and good for the environments in which we operate.  We therefore welcome applications from people which allows us to draw on diverse cultures, perspectives, skills and experiences.