Director of Contracts - Contract Wordings, Reinsurance

Director – Contracts - Reinsurance

This is a hybrid role with the flexibility to work both virtually and from our Chicago, IL or Bloomington, MN office

Aon is in the business of better decisions

At Aon, we build decisions for the better to protect and enrich the lives of people around the world.

As an organization, we are united through trust as one inclusive team and we are passionate about helping our colleagues and clients succeed.

What the day will look like

Joining Aon's Reinsurance Solutions team, you will take charge of preparing, examining, and completing formal documentation that captures the terms and conditions related to treaty reinsurance arrangements. You will be motivated to continuously learn and stay current with industry expressions, conditions, trends, and regulatory changes.

Role Responsibilities

• Support hiring, workforce planning, and talent development to ensure suitable staffing, technical knowledge, and capabilities within the department.
• Prepare complex reinsurance contracts and review the work of supporting Contract Drafters, ensuring technical quality, accuracy, and consistency.
• Manage and develop team of supporting Contract Drafters, offering technical mentorship, quality oversight, mentoring, feedback, and support for colleague development.
• Participate in client, reinsurer, and broker meetings, providing wording expertise in the development and interpretation of contract language.
• Apply deep understanding of reinsurance structures and intent to guide brokers and clients in developing and interpreting contract language covering complex coverage builds and potential loss scenarios.
• Partner with brokers during placement negotiations to join client discussions regarding wording provisions addressing emerging risks and specific client concerns.
• Support business growth and strengthen client advocacy through RFP participation, competitor wording reviews, and recommendations for coverage and contract improvements for new and existing clients.
• Maintain a solid grasp of evolving insurance, reinsurance, and risk management market conditions and keep brokers and clients updated on pertinent developments.
• Serve as a senior subject-matter expert on reinsurance contract wordings, offering mentorship and recommendations to brokers and clients.
• Manage departmental projects and initiatives passionate about improving contract processes, capabilities, consistency, and client service.
• Develop training materials and deliver internal technical training on reinsurance contract wording, market trends, and guidelines within the department.
• Contribute to the Annual Global Client Training Summit by presenting to clients and preparing materials on reinsurance contract wording trends, market developments, and possible coverage or contract improvements.
• Support multiline reinsurance business for Global and US clients.

Skills and experience that will lead to success

• Bachelor’s degree in Business Administration, Legal Studies, Risk Management, a related field, or equivalent years of industry experience.
• A minimum of 8 years in insurance or reinsurance, working as a lawyer/attorney or contract/policy specialist, with preference for experience in reinsurance structures. Experience drafting and interpreting treaty wordings for domestic and global placements is preferred.

For positions in San Francisco and Los Angeles, we will consider for employment qualified applicants with arrest and conviction record in accordance with local Fair Chance ordinances.

Aon is not accepting unsolicited resumes from search firms for this position. If you are a search firm, you will not be compensated in any way for your submission of a candidate, even if Aon hires that candidate.

Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. 

The salary range for this position (intended for U.S. applicants) is $130,000 to $190,000 annually. The actual salary will vary based on applicant’s education, experience, skills, and abilities, as well as internal equity and alignment with market data.  The salary may also be adjusted based on applicant’s geographic location.

This position is eligible to participate in one of Aon’s annual incentive plans to receive an annual discretionary bonus in addition to base salary.  The amount of any bonus varies and is subject to the terms and conditions of the applicable incentive plan.

Aon offers a comprehensive package of benefits for full-time and regular part-time colleagues, including, but not limited to: a 401(k) savings plan with employer contributions; an employee stock purchase plan; consideration for long-term incentive awards at Aon’s discretion; medical, dental and vision insurance, various types of leaves of absence, paid time off, including 12 paid holidays throughout the calendar year, 15 days of paid vacation per year, paid sick leave as provided under state and local paid sick leave laws, short-term disability and optional long-term disability, health savings account, health care and dependent care reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; optional personal insurance policies, adoption assistance, tuition assistance, commuter benefits, and an employee assistance program that includes free counseling sessions.  Eligibility for benefits is governed by the applicable plan documents and policies.

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