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Director level expert, responsible for purchasing corporate reinsurance treaties. This role involves working closely with reinsurers, brokers, and internal business units to ensure effective risk management. The Director of Reinsurance Placements acts as the company's expert in reinsurance, identifying areas of risk concern and determining the extent to which reinsurance can be a cost-effective method to mitigate these risks.
JOB DESCRIPTION:
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
Team lead position responsible for the development and training of junior staff in accordance with corporate strategic direction. Manages the purchasing of reinsurance treaties.
Acts as the placement liaison with claims and accounting on new or renewed treaties to ensure correct application of treaty terms.
Leads the preparation of external submissions for the reinsurance market following department guidelines and protocols.
Creates and maintain reinsurance reports and program summaries.
Serves as the company's resource in the area of reinsurance, identifying areas of risk concern within the company.
Plans and strategizes with business units for packaging and negotiating complex treaty placements and pricing with reinsurers and brokers. Close collaborator with reinsurers, brokers, and internal business units. Interacts with internal reinsurance legal counsel to ensure reinsurance agreement wording aligns with agreed terms and conditions.
Works closely with business and actuarial units to review underwriting and loss data, underwriting guidelines, and limit profiles. Assesses the efficiency and cost-effectiveness of reinsurance as a risk mitigation tool.
Maintains reinsurance audit files for each placement. Completes all governance activities related to the documentation in a timely manner.
Ensures key metrics are requested, received, and vetted with actuarial and other internal business partners to facilitate the evaluation of proposed placements.
Prepares PowerPoint presentations to outline proposed purchases and seeks management approval. Finalizes reinsurance contracts with external and internal business partners within regulatory time frames.
May perform additional duties as assigned.
Reporting Relationship
APV or above.
Skills, Knowledge & Abilities
• Strong knowledge of core functions of an insurance and general insurance .
• Strong leadership skills and ability to work independently receiving minimal guidance.
• Experience with analyzing large data sets to determine trends.
• Extensive knowledge of reinsurance principles as well as major insurance lines of business including property, casualty, GL, D&O, WC, and healthcare liability.
• Ability to solve issues with a high degree of urgency; utilizes and manages the available resources to make informed decisions and achieve superior results.
• Ability to effectively manage through ambiguous and challenging problems, leads through change and takes appropriate level of risk.
• Solid knowledge of Microsoft Office Suite and other business-related software.
Education & Experience
• Bachelor's Degree in a related discipline, or equivalent with preferred Business, Economics, Mathematics, Finance, Statistics, or related discipline.
• CPCU or ARE Designation preferred
• Typically a minimum of ten years of related work experience.
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In New York City, the base pay range for Underwriting Consultant is $164,000 to $205,000. Salary determinations are based on various factors, including but not limited to, relevant work experience, skills, certifications and location.
In certain jurisdictions, CNA is legally required to include a reasonable estimate of the compensation for this role. In District of Columbia,California, Colorado, Connecticut, Illinois, Maryland, Massachusetts, New York and Washington, the national base pay range for this job level is $97,000 to $189,000 annually. Salary determinations are based on various factors, including but not limited to, relevant work experience, skills, certifications and location. CNA offers a comprehensive and competitive benefits package to help our employees – and their family members – achieve their physical, financial, emotional and social wellbeing goals. For a detailed look at CNA’s benefits, please visit cnabenefits.com.
CNA is committed to providing reasonable accommodations to qualified individuals with disabilities in the recruitment process. To request an accommodation, please contactleaveadministration@cna.com.
