Director, Reinsurance

Job Description

This position is responsible for directing and leading reinsurance functions for AF Group. This individual will be responsible for the assessment of reinsurance needs, proposal of structures, facilitating placements, and general management of in-force reinsurance. In this position the individual will interact with key decision makers within AF Group and work in a consultative and collaborative manner to address a variety of risk appetites within the organization. Preparation, presentation and communication of recommendations and results to the executive management team of AF Group is expected, in addition to external outside parties.

The individual must be interactive with all levels of company and operating unit management, insightful, and able to see above the details to the big picture. This individual will need to leverage subject matter experts across various areas in a collaborative manner to oversee all aspects of reinsurance. This position must be able to work on many tasks concurrently and use time management skills effectively to meet hard deadlines, along with prioritizing tasks with similar expectations.

RESPONSIBILITIES/TASKS:

• Lead the reinsurance program for the enterprise, acting as a contact for external brokers with regard to communication, reporting and data delivery, as well as the corporate advocate for planning and placement.
• Provide internal pricing analysis for reinsurance purchasing decisions and provide meaningful output enabling AF Group management to make informed and sound business decisions.
• Coordinate the reinsurance purchasing decisions for AF Group, working with the Capital Modeling Team, the business unit, outside brokers, Finance, and Executive Office.
• Effective communication of reinsurance purchasing decisions along with their associated accounting impacts.
• Monitor catastrophe risk, with understanding of AM Best's perspective and impacts on BCAR.
• Facilitate and oversee periodic reinsurer audits and data requests.
• Manage external relationships with brokers and reinsurers, representing the company in meetings at industry events.
• Create, execute and monitor AF Group's reinsurance strategy.
• Review workpapers for the recording and accounting of AF Group's reinsurance contracts.
• Analyze and recommend collateral requirements for reinsurance contracts in conjunction with the credit department
• Support elements of Schedule F reporting
• Lead commutation efforts to close out older reinsurance arrangements.
• Manage a team of reinsurance specialists.
• Act as a point of contact to support Performance Management with forecasting and annual planning with regards to reinsurance
• Responsible for preparation of and in some cases presentation of reports to various audiences (including Executive Staff and Board) on reinsurance.
• Responsibility for balancing workload to optimize the effectiveness of the department.

This position description identifies the responsibilities and tasks typically associated with the performance of the position. Other relevant essential functions may be required.

DIRECTION EXERCISED:

Directly supervises exempt and non-exempt staff in accordance with company policies and applicable Federal and State Laws. Responsibilities include but are not limited to effectively interviewing, hiring and training employees; planning, assigning and directing work; appraising performance; rewarding and counseling employees; addressing complaints and resolving problems; supporting and encouraging the engagement process.

EMPLOYMENT QUALIFICATIONS

EDUCATION:

Bachelor's degree in actuarial science, mathematics, business, or a related area required. Attainment of Chartered Property Casualty Underwriter (CPCU) and Associate in Reinsurance (ARe) designations from The Institutes is strongly preferred. Continuous learning, as defined by the Company's learning philosophy, is required.

WORK EXPERIENCE:

Ten years relevant reinsurance experience which provides the necessary skills, knowledge and abilities required. Experience must include assessment of reinsurance needs and facilitation of reinsurance placement. Five years experience managing, supervising, or project management experience required. Ideal candidate will have established relationships within the reinsurance community at various companies and brokerages.

SKILLS/KNOWLEDGE/ABILITIES (SKA) REQUIRED:

• Advanced knowledge of reinsurance products regarding potential applications, benefits, and costs, along with an understanding of market participants and procedures.
• Knowledge of GAAP and SAP accounting rules particularly as it relates to reinsurance.
• Apply the principles of logical thinking to define problems, collect data, establish facts and draw conclusions, even in ambiguous situations.
• Maintain confidentiality as appropriate.
• Superior written and verbal communication skills
• Ability to establish workflows, manages multiple projects, and meets necessary deadlines.

WORKING CONDITIONS:

Work is performed in an 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 $142,700 and $239,000.

We are an Equal Opportunity Employer. Diversity is valued and 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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