Job Summary
The Vice President, Ceded Reinsurance is principally responsible for executing and servicing successful treaty placements within Allied World’s Ceded Reinsurance department, in support of direct underwriting operations for North America and Global insurance teams.
Job Duties
· Working with Underwriting, Actuarial, Claims and Reinsurance Intermediary, as appropriate, to place effective reinsurance treaties to support the business requirements.
· Coordinate with Ceded Re team members, and other Allied World departments to produce accurate submission data for reinsurer analysis.
· Evaluate reinsurer quotations, negotiate efficient terms, and execute best-in-class reinsurance treaties.
· Advise senior management on proposed firm order terms on largest treaties.
· Negotiate contract wording to reflect transaction. Review all treaty contracts. Manage execution of contract and maintain electronic filing archive.
· Evaluate risk transfer compliance for treaty transactions.
· Coordinate implementation of treaty reinsurance into ProCede/Genius with Finance/IT.
· Assist in maintaining compliance with the tenets of the Sarbanes-Oxley Act.
· In a collaborative approach, review existing treaty reinsurance requirements and analyze structure alternatives, as part of Plan processes.
· Support Risk Management Committee.
· Maintain regular contact with existing and potential reinsurance markets for general marketing as well as specific program updates.
· Meet with key brokers regularly to discuss business development, service, and other topics relative to the company’s reinsurance program.
· Stay current with respect to industry issues and developments.