VP, Reinsurance

VP of Reinsurance

This opportunity is responsible for designing & leading Assurant’s Reinsurance Programs and in support of it's Domestic (ceded) and International Reinsurance programs (ceded & assumed). In addition, you will offer guidance to related insurance growth initiatives including but not limited to: International assumed reinsurance, underwriting, risk tolerance and appetite recommendations, contract administration, and other Reinsurance operational functions. You will need to make decisions in accordance with Assurant’s risk appetite and profile and operating strategy while influencing our overall strategy for reinsurance. This is a remote position.

What makes us different?

• The people – we care

• The diversity - every day is different

• The excitement – we focus on ‘What Matters Most’ to our customers

• The difference in the value Assurant places on strong leadership

• The opportunity to learn, grow and advance within our fortune 500 global company

• Competitive salary

Primary Responsibilities:

• Guides and directs the management, preparation and maintenance of related reinsurance contracts, non-disclosure agreements, letters of intent and other related contracts supporting international and domestic business managed under the Risk Management & Product Development Department. As necessary, actively supports M&A initiatives where risk management/reinsurance involvement is required. Support new product development and launches.

• Understands strategic direction and strategy for reinsurance and actively works with reinsurers, brokers and other third parties to execute in best interest of Assurant, actively making recommendations to guides decisions and strategy

• Develop & maintain relationships with AON to properly leverage its resource to meet requirements and AIZ’s reinsurance related goals and objectives.

• Establish, develop and maintain working relationships with the panel of insurers, consisting of approximately 48 reinsurers.

• Responsible for managing and developing team for exposure management and team for reinsurance.

• Underwrites assumed reinsurance transactions and makes recommendations to management regarding the impacts of deal economics including but not limited to: expected returns, capital utilization, general deal mechanics, contract terms and geographic accumulations.

• Directs the preparation of records as well as recurring and special reports and analysis for Risk Management ensuring that they are complete, accurate and prepared on time. Reviews and interprets these in order to ascertain the extent to which goals are being attained. Takes corrective action as necessary

• Assists in the direction and coordination of the Corporation’s non-captive reinsurance programs ensuring risk transfer at appropriate levels to meet the corporate risk retention goals.

• Reviews and guides preparation of quarterly reports and presentation for CAT communications and ERM. Works with Exposure Management, Capital Management and Data Management in development of risk reporting and accumulation management tools supporting ceded and assumed risk analysis and accumulation management.

• Works with Assurant accounting and finance to appropriately book new account premium, create an appropriate understanding of deal cash flows, and manage CAT placement allocations among product lines.

• Oversees the Exposure Management & Modeling team supporting reinsurance placements.

• Assists in the direction and coordination of the Corporation’s participation in residual market mechanisms ensuring that all reporting is held in compliance as statutorily required, assessment outlays are minimized, and account assessment/ audit true-ups.

• Submission to Florida Hurricane CAT Fund.

• Remains abreast of developments in the field(s) of reinsurance, alternate risk transfer, catastrophe modeling, and residual markets by pursuing a program of self-development, participating in professional organizations, interacting with peers, reviewing pertinent literature, and so forth. Incorporates advancements when practicable and cost-effective.

• Financial responsibility: Develops, secures approval of, and administers an operating budget for the attainment of agreed-upon goals in accordance with approved plans. SOX compliance input. Responsible for expenses in excess of $150 M.

• Act as point person for financial reporting on reinsurance, press releases, rating agency, ESG, and similar disclosures.

Basic Qualifications:

• Bachelor’s degree or equivalent

• 15 years of experience in insurance or reinsurance for CAT exposed portfolios

• 10 years of related insurance or underwriting exposure.

• Must have significant experience with CAT placements and in-depth knowledge of allocation, reinsurance finance, and modeling methodologies from an oversight and strategic perspective.

• Knowledge of: Ceded Reinsurance, Reinsurance Underwriting, Alternate Risk Transfer, Catastrophe Modeling, Financial Analysis, and Residual Market Mechanisms

• Demonstrated ability to achieve results through working cross-functionally, influencing others, making timely decisions while considering needed trade-offs, negotiating conflicts, as needed

• Strong problem-solving ability and the ability to adapt to shifting priorities and align activities and priorities to meet organizational goals

• Experience with product-line allocations and reinsurance financial reporting to regulatory and rating agencies

• Up to 15% travel (Dependent on company mandates relative to controlling exposure to Covid)

Preferred Experience:

• An advanced degree in finance or actuarial science is strongly preferred

• Strong mathematical aptitude

• Prior experience in insurance and/or actuarial for casualty & property

• Ability & experience presenting to C-Suite

• Strong negotiation skills

• Excellent communication skills with global stakeholders

For more information, please visit https://www.assurant.com/

#AssurantProudSD