Lead for Outwards Reinsurance at Liberty Specialty Markets
3 weeks ago
Position Overview:
We are seeking a professional with a background in Casualty and/or Financial Lines to facilitate the comprehensive placement of our long-term reinsurance treaties. This role will involve close collaboration with business leaders to gain insights into our globally written insurance lines. The focus will be on Liberty International Insurance and Liberty Mutual Re exposures, working in tandem with our North American and Credit teams.
A strong foundation in purchasing, placing, or underwriting Casualty and Financial Lines Treaty business, along with an understanding of the underlying business and actuarial pricing principles, is highly desirable.
Department and Team Function:
The GRS Outwards Reinsurance team is tasked with managing outwards reinsurance treaty programs that safeguard GRS.
This department oversees all facets of the contract placement process, which includes reinsurance strategy formulation, preparation of RI submissions, treaty allocations, and engagement with underwriters and brokers. Additionally, the team handles contract wording, special acceptance requests, and supports both internal and external stakeholders with inquiries related to reinsurance.
The team plays a vital role in business planning, capital requirement assessment, exposure management, and regulatory reporting. It collaborates closely with Liberty Executives, Underwriters, Claims, Finance, and Operations to ensure a cohesive and coordinated approach across all activities.
Key Responsibilities:
Oversee the complete lifecycle of long-tail reinsurance treaty placements, including the generation and analysis of data necessary for modeling and pricing appropriate products. Document and communicate treaty terms effectively to all relevant departments, including Finance, Operations, and Actuarial. Independently prepare and distribute Summary of Terms, Reinsurance Schematics, and other pertinent reports. Work in close partnership with the Outwards Reinsurance Operations team to ensure the precise and timely transfer of reinsurance structures, aligning with administrative system requirements and processes. Collaborate with Underwriting, Finance, Actuarial, Capital Management, Exposure Management, and Claims teams to ensure a thorough understanding of all Reinsurance Treaties, facilitating accurate integration into relevant internal processes. Independently produce, verify, and formalize ceded metrics sheets. Offer initial reinsurance strategy recommendations for all long-tail placements based on ceded metrics and extensive business knowledge gained through engagement with underwriters. Develop, maintain, and communicate suitable reports for reinsurance monitoring purposes, including tracking FAC RI expenditure, evaluating RI treaty performance, monitoring credit risk exposure, and overseeing reinsurance collateral. Contribute to the assessment of regulatory reports, such as Solvency II forms, showcasing a comprehensive understanding of regulatory requirements. Manage various annual reinsurance renewal processes, including data submission preparation and review, along with the execution of reinsurance placements. Maintain various internal reinsurance allocation models. Coordinate annual internal and external reinsurance planning. Ensure the development, maintenance, and communication of appropriate reports to assist in reinsurance monitoring. Provide mentorship to junior staff members.Required Skills & Experience:
Fundamental understanding of reinsurance principles. Strong capability to adapt and address unique challenges in a collaborative and innovative manner. Exhibits advanced communication, organizational, analytical, critical thinking, and team-building skills, along with advanced presentation, influencing, and relationship management abilities. In-depth knowledge of business operations, including an understanding of the function's value chain and market conditions, is strongly preferred. Proficient in data management and manipulation using MS Excel. Excellent communication and interpersonal skills, including the ability to present to senior leadership audiences.About Liberty Specialty Markets (LSM) and Liberty Mutual Reinsurance (LMRe)
Liberty Specialty Markets and Liberty Mutual Reinsurance are integral parts of Global Risk Solutions and the broader Liberty Mutual Insurance Group, a leading global insurer. We provide a wide range of world-class insurance and reinsurance services to brokers and insureds across all major markets.
Our workforce is crucial to our success. This is why "Put People First" is one of the five core values that unite us as a global organization. We embody this commitment through:
Fostering a vibrant and inclusive environment while investing in career development. Promoting diversity, equity, and inclusion (DEI). Our Inclusion Matters framework and employee-led networks enhance the diversity of our workforce and our inclusive culture. Reinforcing that collaboration and sharing unique perspectives lead to better decision-making, innovative solutions, and the pursuit of ambitious goals. A supportive culture that encourages a healthy work-life balance and flexible working arrangements.-
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