AVP - Reinsurance Operations

JOB PURPOSE

• Manage all ceded and inuring reinsurance claim professionals, processes, and billing
• Manage all aspects of ceded and inuring reinsurance collections, accelerate the collection of owned company receivables and minimize aged debt
• Perform regular credit analysis (including bad debt and letter of credit reviews) and provide recommendations to leadership re same
• Partner with Claims vendor management to identify and oversee vendors necessary for ceded and collections operations
• Establish a direct line of communication with vendors, clients, and internal departments to ensure the flow of accurate financial information for payment and collection
• Partner with Finance Department to create journal and ledger entries, as necessary
• Continuously seek to improve system processes and ensure effective collaboration across the interdisciplinary team

KEY RESPONSIBILITIES

• Work with senior management to review and implement formulation of the company’s ceded and inuring credit policy to mitigate unnecessary risk and conduct monthly or quarterly compliance reviews for same
• Develop business plan for collections that leverages cost-effective to ensure timely collection of billings
• Establish and deliver appropriate learning and development materials for Reinsurance Operations claims specialists that reduces operation risk while improving the recovery of reinsurance assets across the team
• Establish KPIs and conduct regular analysis across all team members under your management
• Review and report on aged debtors
• Manage write-offs, bad-debt provisions, and partner with counsel to write payment agreements

• Establish credit, collections and ceded reinsurance protocols for new business deals
• Lead all internal and external audits related to ceded billing, credit, and collections
• To maintain compliance with any applicable US or International statutory or regulatory obligation as required by the role. This includes but not limited to obligations arising from:

• The prudent management of the business.
• Placing due regard on the interests of customers.
• Observing rules on Sanctions and financial crime.
• Regulatory requirements and local licensing restrictions.
• Promoting and follow the Group’s whistleblowing procedures
• Promote and provide guidance to reports in relation to the Group’s Whistleblowing policies and procedures.
• Where applicable, following the Company’s Consumer Duty principles to deliver good outcomes for retail customers

SKILLS / KNOWLEDGE

• Inquisitiveness
• History of setting and achieving strategic priorities
• Ability to drive change and empower employees to operate as one and own the next step
• Continuous improvement mindset and experience with change management
• Significant Excel experience (macros, pivots, and functions are your passion)
• Ability to influence beyond your span of control
• Experience developing and delivering cross-functional or multi-departmental projects
• Excellent written and verbal communication skills
• Ability to manage internal and external stakeholders’ expectations
• Strong business acumen with emphasis in ceded and inuring reinsurance, collections and credit
• Strong analytic skills and ability to synthesize and prioritize under strict deadlines
• As an R&Q Manger, you are expected to have the following skills:
  • Teambuilding: Builds consensus via shared decision making. Fosters a sense of shared accountability and group responsibility. Creates a work environment based on inclusiveness, welcoming others’ suggestions, and points of view. Regularly looks for common ground and encourages collaboration among team members.
  • Communication: Communicates clearly and effectively at all levels. Produces easily understandable reports and presentations. Effectively deals with others, both internally and externally. Provides timely feedback and follow up, and encourages open communication, cooperation, and the sharing of knowledge.
  • Leadership: Provides an appropriate amount of structure, direction, and feedback to ensure a high level of group performance. Structures projects and assignments with clear goals and measurable outcomes so that team members can creatively individualize solutions.

Education

• Bachelor’s degree required
• Master’s or Juris Doctorate degree preferred
• Applicable certifications or business management certifications preferred

Experience

• Financial accounting and analytics experience > 10 years
• Leadership and management of remote and diverse teams > 10 years
• Proven ability to identify and minimize financial risks
• Experience in handling vendor relationships
• Five years of direct experience managing ceded reinsurance collections