AVP - Reinsurance Operations

Job Description

Job Description

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 companys 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 Groups whistleblowing procedures
Promote and provide guidance to reports in relation to the Groups Whistleblowing policies and procedures.
Where applicable, following the Companys 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

Bachelors degree required
Masters 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

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