Reinsurance Manager

SUMMARY

The Reinsurance Team is responsible for the ceded and assumed reinsurance of the organization and related analytics including geo-spatial risk measurement, catastrophe modelling, and catastrophe event reporting.  This includes implementation of the organization’s treaties, including system setup, cross department coordination, submission preparation, contract/terms negotiation, managing treaty documentation, and all related compliance and control processes. The position is responsible for working with brokers, intermediaries, and reinsurers in the placement and assumption of reinsurance agreements. Role will require utilization of analytical and critical thinking skills to help identify risks faced by business units and determining mitigating reinsurance solutions.

ESSENTIAL DUTIES AND RESPONSIBILITIESinclude the following. Other duties may be assigned.

• Lead the placement of treaty reinsurance agreements, acting as the contact for external brokers, intermediaries, and reinsurers. 
• Interacts with internal reinsurance legal counsel to ensure that reinsurance agreement wording is in line with agreed terms and conditions, and that all parties have agreed all terms prior to seeking binding approval.
• Work with business unit leaders to understand risks and desires of reinsurance as a tool to mitigate risk.
• Understand, negotiate, and achieve best reinsurance contract terms. 
• Prepare presentations and documents outlining the reinsurance placement strategy and objectives.
• Facilitate and oversee periodic reinsurer audits and data requests.
• Present and represent the company in meetings at industry events to brokers, agency partners, and reinsurers.
• Supports monitoring catastrophe risk and aggregation management, with understanding of AM Best’s perspective and impacts on BCAR.
• Assigned advanced special projects as needed.
• Assists in providing internal pricing analysis for reinsurance purchasing decisions and provide meaningful output, enabling management to make informed and sound business decisions.
• Understands catastrophe modelling and how perils, geographies, and return periods impact output and business decisions.
• Effectively communicates complex reinsurance matters to audiences, including internal stakeholders and executive staff.
• Provide comprehensive analysis related to reinsurance purchases including but not limited to analysis of received quotes, quoting behavior, treaty structure, year on year changes in treaty cost, budget to actual treaty cost, contract interpretation and wording.
• Mentor and review the work of reinsurance analysts and placement leads.

EDUCATION AND EXPERIENCE  

Relevant combination of education and experience may be considered in lieu of degree.

• Bachelor’s degree required, business or insurance related major preferred.
• Six years of reinsurance experience required, or a combination of 6 years of either P&C experience and/or reinsurance may be considered in lieu.
• Completion of Chartered Property Casualty Underwriter (CPCU) or Associate in Reinsurance (ARe) designations preferred.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

OTHER SKILLS AND ABILITIES 

• Knowledge of property and casualty insurance with understanding of reinsurance principles, practices and procedures, products, and services
• Ability to effectively exchange information clearly and concisely, present ideas, report facts and other information, and respond to questions as appropriate.
• Presentation skills and confidence to present company and product in one-on-one settings or in small groups. 
• Ability to apply the principles of logical thinking to define problems, collect data, establish facts and draw conclusions. 
• Ability to establish a personal rapport with opposing parties and to resolve conflicts in a professional manner.
• Ability to serve as a mentor and trainer of reinsurance leads.
• Subject matter expert in reinsurance contract structures and terms
• Thorough knowledge of insurance principles and practices including reinsurance, underwriting, and marketing guidelines, and claims practices.
• Knowledge of GAAP and SAP accounting with understanding of financial data
• Ability to create reinsurance pro-forma structure with little direction.

ADDITIONAL INFORMATION 

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified. This job description does not constitute a contract for employment.

WORKING CONDITIONS 

Work is performed in a virtual office and onsite office setting with no unusual hazards. Travel is required. 

The qualifications listed above are intended to represent the minimum education, experience, skills, knowledge and ability levels associated with performing the duties and responsibilities contained in this job description.  

Pay Range - Actual compensation decision relies on the consideration of internal equity, candidate’s skills and professional experience, geographic location, market, and other potential factors. It is not standard practice for an offer to be at or near the top of the range, and therefore a reasonable estimate for this role is between $94,500 and  $158,250 (P4B).

We are an Equal Opportunity Employer. We will not tolerate discrimination or harassment in any form. Candidates for the position stated above are hired on an "at will" basis. Nothing herein is intended to create a contract.

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