Posted on Aug 11, 2019 by Assurant
Assurant has an exciting opportunity for a Director, Reinsurance!
This role is responsible for directing Assurants Reinsurance Programs and in support of it's Domestic (ceded) and International Reinsurance programs (ceded & assumed). In addition, offers guidance to related insurance growth initiatives including but not limited to: International assumed reinsurance, underwriting, risk tolerance and appetite recommendations, contract administration, and other Reinsurance operational functions. Guides decisions in accordance with Assurants risk appetite and profile and operating strategy.Responsibilities
- Actively facilitates the management, preparation and maintenance of related reinsurance contracts, non-disclosure agreements, letters of intent and other related contracts supporting international and domestic business managed under the Risk Management & Product Development Department. As necessary, actively supports M&A initiatives where risk management/reinsurance involvement is required.
- Underwrites assumed reinsurance transactions and makes recommendations to management regarding the impacts of deal economics including but not limited to: expected returns, capital utilization, general deal mechanics, contract terms and geographic accumulations.
- Supports coordination with Product Development, Financial Planning & Analysis, and related committees regarding reinsurance needs for Assurant Growth initiatives.
- Directs the preparation of records as well as recurring and special reports and analysis for Risk Management ensuring that they are complete, accurate and prepared on time. Reviews and interprets these in order to ascertain the extent to which goals are being attained. Takes corrective action as necessary
- Assists in the direction and coordination of the Corporations non-captive reinsurance programs ensuring risk transfer at appropriate levels to meet the corporate risk retention goals.
- Prepares semi-annual reports and presentation for CAT communications and ERMWorks with Exposure Management, Capital Management and Data Management in development of risk reporting and accumulation management tools supporting ceded and assumed risk analysis and accumulation management.
- Works with Assurant accounting and finance to appropriately book new account premium and create an appropriate understanding of deal cash flows.
- Regularly communicates with reinsurance brokers and in the case of direct relationships, clients to manage underwriting and claims related issues on an as needed basis.
- Assists Exposure Management in the direction and coordination of the Corporations participation in residual market mechanisms ensuring that all reporting is held in compliance as statutorily required, assessment outlays are minimized and account assessment recoupment is effectively implemented. Remains abreast of developments in the field(s) of reinsurance, alternate risk transfer, catastrophe modeling, and residual markets by pursuing a program of self development, participating in professional organizations, interacting with peers, reviewing pertinent literature, and so forth. Incorporates advancements when practicable and cost effective.
- Direct reports: May have small team of one or two analysts/modelers
- Financial responsibility:Develops, secures approval of and administers an operating budget for attainment of agreed upon goals in accordance with approved plans. ASP, Risk Management & Underwriting is actively managing in excess of $200M of Reinsurance Expense Worldwide, and is responsible for Profitability on near $100M of Annual International Premiums.
- Travel up to 50%
- Bachelors degree or its equivalent
- 5years' of experience in insurance or reinsurance
- 10 years of related insurance or underwriting experience
- Knowledge of: Ceded Reinsurance, Reinsurance Underwriting, Alternate Risk Transfer, Catastrophe Modeling, Financial Analysis and Residual Market Mechanisms
Preferred Experience, Skills and Knowledge:
- Bachelors degree strongly preferred in mathematics, economics or actuarial science
- Strong mathematical skills
- Prior experience in insurance and/or actuarial
- Strong negotiation skills
- Excellent communication skills with global stakeholders
- Masters degree in finance or economics
- Bi-lingual in Spanish or Portuguese a plus