Assistant Vice President – Reinsurance Treaty & Legacy

You have a clear vision of where your career can go. And we have the leadership to help you get there. At CNA, we strive to create a culture in which people know they matter and are part of something important, ensuring the abilities of all employees are used to their fullest potential. 

Officer position responsible for direction and management of reinsurance treaty and legacy administration for the company. Ensures effective implementation of strategic objectives and policies in accordance with the company’s strategic plans.

JOB DESCRIPTION:

Essential Duties & Responsibilities

Performs a combination of duties in accordance with departmental guidelines:

• Strategic management of legacy/run-off business for both ceded and assumed claims including prompt reporting and claims handling; compliant with regulatory and financial requirements for all matters related to legacy business; regular collaboration with CNA’s direct claims team.

• Ensures timely and accurate delivery of payment of premium for all corporate ceded treaties; work with CNA’s affiliates to ensure US premium is paid for contracts placed outside of the US. Collaborate with other areas as needed for accruals or other financial requirements.

• Manage relationship and is main point contact with external third-party reinsurance companies (ceded and assumed), maintain consistency in handling of claims involving CNA.

• Ensures compliance with regulatory requirements to permit the corporation to benefit from reinsurance recoverable on the financial statements, oversees collections on all outstanding balances.

• Partners with legal advisers on issues related to contract formulation. Provides business expertise on contract matters.

• Fosters the development and implements strategies for cessions and collections of legacy reinsurance business, negotiating with reinsurers when appropriate.

• Leads, directs and has full management accountability for staff in area of responsibility with an emphasis on talent management and succession planning in accordance with corporate strategic direction.

• Directs claims handling and philosophy for assumed legacy reinsurance business, seek opportunities for finality where possible.

• Play an integral role in developing CNA’s strategy and response to issues such as insolvencies, disputes, actuarial analyses and direct claims collaboration.

May perform additional duties as assigned.

Reporting Relationship

Typically reports to VP and above

Skills, Knowledge & Abilities

1. In-depth technical knowledge of reinsurance structures, contracts and reinsurance industry practice and working knowledge in other related fields in addition to experience with legacy reinsurance issues such as reserving, commutations and insolvencies.
2. Ability to effectively interact and communicate with all levels of external and/or internal business partners within scope of responsibility, team and/or matrix environment.
3. Leadership and management skills demonstrating integrity and professionalism.
4. Ability to drive results by identifying and resolving problems within scope of responsibility.
5. Knowledge of the insurance industry, its products and services.
6. Knowledge of Microsoft Office Suite and other business-related software.

Education & Experience

1. Bachelor’s degree with Master’s preferred in a related discipline, or equivalent.
2. Typically a minimum of ten years of related work experience in reinsurance, with five years management experience.
3.  Applicable certifications preferred.
 

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In certain jurisdictions, CNA is legally required to include a reasonable estimate of the compensation for this role. In District of Columbia,California, Colorado, Connecticut, Illinois, Maryland, Massachusetts, New York and Washington, the national base pay range for this job level is $152,000 to $242,000 annually. Salary determinations are based on various factors, including but not limited to, relevant work experience, skills, certifications and location. CNA offers a comprehensive and competitive benefits package to help our employees – and their family members – achieve their physical, financial, emotional and social wellbeing goals.  For a detailed look at CNA’s benefits, please visit cnabenefits.com.

CNA is committed to providing reasonable accommodations to qualified individuals with disabilities in the recruitment process. To request an accommodation, please contact[email protected]