Director of Reinsurance

JOB RESPONSIBILITIES:  

• Manage Reinsurance Reporting Supervisors - six
• Writing performance reviews and interviewing candidates as positions become available
• Review treaty settlements, statistics, related reports and reinsurance details, including profit commission calculations, as needed
• Assist in conversion to new reinsurance system, including reviewing reconciliation of data between current system and new system
• Assist in preparation of ad hoc reports for senior management, auditors, actuaries and accounting
• Review journal entries for general ledger, and sub-ledgers and reconciliations to G/L
• Approve financial documents in Sharepoint accounting system
• Assist in pulling together data for commutations and companies in liquidation
• Oversee movement of funds between issuing companies and reinsurers on Risk Management treaties and XSL contracts
• Respond to inquiries from reinsurers, reinsurance brokers, auditors and issuing companies
• Review updates to business continuity plan
• Reviews or maintains various reports and advices prepared by analysts reporting to supervisor to ensure that such reports are accurate and up-to-date.  Such reports may include those regarding to facultative and excess of loss coverages, or any other reports.
• Prepares or reviews reports and other documents involving reinsurers in liquidation to ensure that information is correct and up-to-date.  Fills out claims to be filed with liquidators and ensures that they are filed by the deadline provided to us.
• Reviews reinsurance documents for completeness in accordance with negotiated terms and conditions, following statutory requirements.
• Distributes to reinsurers reports and information distributed to reinsures and verifies cessions before payment is made.
• Monitors usage of reinsurers to ensure only those financially able to meet its obligations as determined by the Security Committee are used.
• Serves as an advisor to senior management regarding application and usage of reinsurance.

Skills & Requirements:

• Bachelors Degree in related area.
• Minimum of 5 years supervisory experience preferably in reinsurance
• Advanced computer skills, particularly in Word and Excel, basic knowledge of database applications.
• Sound analytical skills with the ability to interpret data and make astute recommendations. 
• Sound numeric skills- detailed and accurate. 
• Strong communication skills both written and oral. 
• Good understanding of business and accounting practices. 
• Must have good organizational skills with the ability to work well under pressure.
• Strong ability to multi-task.
• Ability to supervise and manage a staff of supervisors/analysts/analyst assistants.
• Ability to write advanced reports and business correspondence.
• Ability to define problems, collect data, establish facts, and draw valid conclusions. 
• Ability to perform complex mathematical calculations for reinsurance cessions and cost/benefit analyses.
• Strong PC knowledge, including MS Office Package (Excel, PowerPoint and Word).
• Knowledge of NAIC and State Insurance Regulations on Reinsurance Transactions/Contracts, including associate in Reinsurance (or equivalent experience).
• Extensive knowledge of insurance industry, including knowledge of financial, claims and underwriting processes.
• Knowledge of reinsurance agreements and standard clauses for such contracts.
• Ability to apply reinsurance knowledge to new and various types of lines of business.
• Ability to analyze underwriting results and cost/benefit analyses of reinsurance.

   Ability to perform mathematical calculations for reinsurance cessions and cost/benefit analyses.