AVP, Actuarial Reinsurance

Summary

The AVP, Reinsurance is responsible for the oversight and management of evaluating reinsurance needs, and negotiating and implementing reinsurance solutions in alignment with the reinsurance business strategy. This position will have active involvement with Valuation, Modeling, Projections, Financial Planning & Analysis, Financial Reporting, Legal, Tax, Financial Systems, Reinsurance Administration.

Organization

This position reports directly to VP, Actuarial Reinsurance & Capital Management and will interact with all levels of management including CFO, CRO, as well as interaction with other officers.  This position will have a direct report/s and will contribute to general training and staff development for all actuaries and the company at large with respect to reinsurance activities.  While the position is part of the actuarial department, it requires a lot of collaboration with almost all areas of the larger company, as well as with the larger reinsurance community outside the organization

Duties and Responsibilities

• Responsible for negotiating and/or developing either new reinsurance arrangements or changes to existing reinsurance arrangements.
• With respect to treaty implementation, will coordinate work with various parts of the company which could include Legal, Valuation, Treasury, Financial Planning & Analysis, Actuarial Projections, Financial Reporting, Tax, Investments, Investment Accounting, Financial Systems, and Reinsurance Administration.
• Work with Valuation and Reinsurance Administration in finalizing efficient ongoing calculation of reserve credits associated with a deal; preparation of settlement statements; preparation of schedule S for the blue book.
• Determine the existence of risk transfer with respect to a deal on different accounting bases and will be responsible for the associated risk transfer document which will be shared with the Accounting Policy team to become part of the accounting memo associated with the reinsurance deal.
• Work could involve modeling, system maintenance and modifications, data integrity review and problem detection, reinsurance calculations in support of treaties, and providing data for financial audits.
• Review and verify the accuracy of the financial reports and ensure deadlines for reporting are me. .
• Execute and manage SOX controls associated with any ongoing reinsurance reporting/calculating processes
• Maintain relationships with key reinsurers, keep abreast of changes in the industry and new structures that could be evaluated for the potential benefit of the company.
• Develop new reinsurance arrangements and maintain/modify existing reinsurance arrangements.
• Negotiate treaties, evaluate deal models, coordinate the implementation of treaties with different areas of the company, and keep management informed of ongoing progress.
• Become familiar with all existing reinsurance arrangements currently in the company.
• Actively participate with senior leadership in the development of the Reinsurance business strategy
• In support of the Reinsurance business strategy, oversee the prioritization and guidance of work for the team to ensure effective execution of projects.

Experience and Education Requirements

• Bachelor’s degree in Mathematics, Actuarial Science, or related technical field.
• Attainment of FSA. Will consider experienced ASA as well. 
• Minimum of 10 years of experience in a range of actuarial disciplines
• Prior Reinsurance experience highly preferred
• Modeling experience a plus.

Skills and Abilities

• Advanced mathematical and analytical skills
• Proficiency with Microsoft suite of products
• Highly articulate, with strong verbal and written communication skills.
• Extremely attentive to detail and highly conscientious about deadlines and duties.
• Ability to mentor and coach others.
• Demonstrated leadership abilities.
• Strong knowledge of Microsoft Office applications (Word, Excel, PowerPoint, Access)
• Ability to analyze model output to determine reasonability of results
• Flexibility and adaptability to take on ad-hoc projects as assigned.
• Ability to organize and manage multiple priorities
• Self-starter who demonstrates strong initiative, desire to learn, and a high energy level
• Team player who has the ability to function as a key member of a small group
• High degree of independence and ownership for their areas of responsibility
• Strong problem-solving skills that include advanced analytical and reasoning abilities. Demonstrate ability to apply actuarial principles to complex situations

Other Requireme