Assistant Vice President – Ceded Placement

Who Are We?

Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 170 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Operations

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range

$165,400.00 - $273,000.001The Ceded Reinsurance Placement & Analytics Team is responsible for the analysis and placement of Travelers' Reinsurance Programs. As an AVP, Ceded Reinsurance Placement & Analytics, you will independently work on your own treaties. You will leverage your expertise and leadership to drive the day-to-day execution of treaty placements and provide thought leadership to support the long-term strategy for Placement and other critical reinsurance areas. You will possess an advanced knowledge of reinsurance concepts to solve complex problems and advise on technical matters and serve as a resource to the organization. You will be able to communicate clear and concise insights/recommendations with the goal of influencing functional/business decisions. Leveraging your relationship building skills and executive presence, you will build strong internal and external networks. You are expected to be an influential leader that can articulate how reinsurance can influence business strategy.

What Will You Do?

• Submission Preparation. Coordinates independently with brokers and gathers required information needed for reinsurance submissions. Evaluates and implements changes to the appropriate data requirements
• Contract Wording. Drafts and proposes contract wording for new and renewal treaties. Research conceptual topics and evaluates alternative clauses. Researches and implements changes to standard treaty clauses. Performs secondary contract reviews. Trains others on contract wording.
• Data Analytics. Verifies data for accuracy and identifies anomalies. Directs the broker and actuarial to thoroughly understand pricing and risk evaluation analytics and the implications for placement options. Develops team learning on analytics.
• Treaty Design and Structuring. Evaluates broker and reinsurer presentations for veracity and applicability to Travelers. Proposes treaty renewal structure changes and establishes the associated evaluation criteria. Has knowledge of and able to direct capital market (ILS) solutions. Has knowledge and ability to consult on structured and other specific reinsurance solutions. Provides leadership and technical expertise on intercompany reinsurance solutions and reinsurance impacts from corporate M&A activity.
• Operational Controls. Designs and implements team controls to assure compliance and best practices. Develops corporate reinsurance policies to assure business units follow appropriate referral protocol and maintain compliance standards.
• Team Development. Coaches other team members on technical expertise and other skills required to perform effectively. Develops and implements associated training programs.
• Treaty Negotiation. Independently negotiates pricing, coverage, exclusions and other conditions with reinsurance markets to obtain best terms for Travelers.
• Internal Relationship Management. Communicates proactively with business units and demonstrates thorough understanding of primary coverages and underwriting strategies. Proposes ideas and solutions to address portfolio challenges above and beyond renewal placements. Leads management strategy decision meetings and advocates for the best option.
• External Relationship Management. Manages broker expectations and timelines for assigned placements. Takes steps to maintain and enhance market relationships. Coordinates material meets with and presents to reinsurance markets. May represent Travelers on a reinsurance industry panel.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Bachelor’s degree or professional designations such as CPCU or ARE.
• Extensive experience with insurance/reinsurance concepts of underwriting, claims or analytics.
• Exceptional communication, collaboration and influencing skills with the ability to present and influence complex information to senior leadership.
• A proven track record as a leader who is well respected and highly organized with the ability to mentor, coach and develop team members and strategically align resources to accomplish key objectives.
• Exceptional data analysis skills with the ability to interpret and report insights and recommendations to business partners.
• Strong business acumen, with the ability to problem-solve, think critically and operate strategically across the company.
• Technical Experience using Excel, Word, Outlook, PowerPoint. Advanced at creating the content of slides.

What is a Must Have?

• 12 years’ experience in P&C insurance or reinsurance and/or reinsurance placement.