AVP, Reinsurance Placements

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Officer position responsible for providing direction and management of treaty and facultative reinsurance placements. The AVP 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. Ensures effective implementation of strategic and operational objectives in accordance with the company's strategic plans.
JOB DESCRIPTION:
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
Implements strategic and operational objectives with accountability for the short-term success of treaty reinsurance placements and moderate impact on the long-term success of the company including earnings stability and volatility management.
1. Team lead responsible for the development and training of junior staff in accordance with corporate strategic direction.
2. Manages treaty reinsurance negotiations and placements to ensure effective protection of the corporate assets. Advises senior management on reinsurance structures, limits of coverage, contract terms, retentions, cost and loss probabilities.
3. 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.
4. 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.
5. Maintains reinsurance audit files for each placement. Completes all governance activities related to the documentation in a timely manner.
6. Ensures key metrics are requested, received, and vetted with actuarial and other internal business partners to facilitate the evaluation of proposed placements.
7. Prepares PowerPoint presentations to outline proposed purchases and seeks management approval. Finalizes reinsurance contracts with external and internal business partners within regulatory time frames.
8. Creates and maintain reinsurance reports and program summaries.
9. Champions CNA with an advanced understanding of the company's differentiating position in the industry, CNA's products and services, as well as a working knowledge and understanding of competitor's products and services.
10. Remains current of state/territory regulations and issues, industry activities and trends. May represent company in industry trade groups.
May perform additional duties as assigned.
Reporting Relationship
Typically reports to VP and above
Skills, Knowledge & Abilities
1. In-depth technical knowledge of reinsurance structures, including alternative capital.
2. Broad understanding of the industry and in-depth knowledge of contract wording and understanding of the critical issues in other related areas.
3. Ability to effectively interact and communicate with all levels of external and/or internal business partners within scope of responsibility, team, and/or matrix environment.
4. Strong leadership and management skills demonstrating integrity and professionalism.
5. Ability to drive results by identifying and resolving significant problems within scope of responsibility.
6. Knowledge of the insurance industry, its products and services.
7. Knowledge of Microsoft Office Suite and other business-related software.
Education & Experience
1. Bachelor's degree with Master's preferred in a related discipline, or equivalent.
2. Typically a minimum of ten years of treaty reinsurance or related work experience, with at least five years management experience.
3. Applicable certifications preferred. (Such as CPCU, ARM, or similar certification)
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I n 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 $152,000 to $242,000 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 contact [email protected]