Job Summary:
The Senior Contracts Manager, Ceded Reinsurance, is responsible for overseeing the negotiation, drafting, and management of ceded reinsurance contracts. This role ensures that all contracts are structured in accordance with the company's risk management strategy, regulatory requirements, and financial objectives. The Senior Contracts Manager will work closely with internal stakeholders such as underwriting, claims, and legal teams, as well as external reinsurers and brokers, to maintain strong and effective reinsurance partnerships and ensure contract compliance.
Key Responsibilities:
Lead negotiations and the drafting of reinsurance contracts, ensuring terms align with the company's risk appetite and financial goals. Collaborate with reinsurers, brokers, and legal teams to finalize agreements that are equitable and clear.
Review and interpret complex reinsurance treaties, ensuring the terms are accurately captured and fully understood by internal stakeholders. Maintain a comprehensive record of all ceded reinsurance contracts and related documents.
Contract Compliance & Risk Mitigation: Ensure all ceded reinsurance contracts comply with regulatory standards and internal policies. Identify potential risks in contract terms and recommend solutions to mitigate exposure.
Provide input on optimizing the ceded reinsurance program by analyzing contract terms, pricing, and coverage levels. Ensure treaties align with overall company strategies for risk transfer and capital efficiency.
Act as a primary point of contact for resolving any disputes or claims-related issues arising from reinsurance contracts. Work closely with claims teams to ensure timely and effective resolution of issues.
Track the performance of reinsurance contracts, ensuring that the terms are being adhered to and that recoveries, settlements, and payments are processed correctly and efficiently.
Qualifications:
Education: Bachelor's degree in Insurance, Business Administration, Law, or a related field. Professional certifications such as CPCU, ARM, or legal qualifications are preferred.
Experience:
- Minimum of 6-8 years of experience in reinsurance contract management or a related field.
- Extensive experience negotiating and drafting complex reinsurance treaties and agreements.
- Solid understanding of the reinsurance industry, including treaty structures, pricing, claims, and regulatory requirements.
Skills & Competencies:
- Strong negotiation and communication skills, with the ability to clearly articulate contract terms and conditions to both internal and external parties.
- In-depth knowledge of reinsurance contracts, treaty wordings, and regulatory compliance requirements.
- Ability to manage multiple, complex projects simultaneously while maintaining attention to detail.
- Proficiency in Microsoft Office Suite and contract management software.
- Strong problem-solving skills and the ability to identify and mitigate risks in reinsurance contracts.
